Worcester Business Journal

20 Worcester Business Journal | October 31, 2022 | wbjournal.com F A C T B O O K T E C H N O L O G Y & I N N O V A T I O N Business Banking Insured by NCUA iccreditunion.org | 800-262-1001 Business Solutions Small or Large we've got you covered. The official groundbreaking ceremony for Ascend Elements' $1-billion Apex 1 electric vehicle battery material recycling facility in Kentucky. fuels to power our lives, and specifically to power how we move across the earth. With that, a new economy has emerged based on technology around since the 19th century. e battery was invented in 1800 by Italian scientist Alessandro Volta, and through the marvels of science, it has evolved from a simple power source into a remarkable part of our every- day lives. ey've become ubiquitous. Every holiday or birthday (especially if you have small children) there's the moment of panic: Did I forget the batteries? Does it come with batteries? Now, though, batteries are the future and a new source of exploration and invention and have become an even bigger part of the economy, thanks to electric vehicles growing in popularity. e electric vehicle boom began in 2018 with the introduction of the Tesla Model 3, which was somewhat afford- able compared to other electric vehicles. Since then, electric vehicle sales have continued on an upward trajectory. According to the Massachusetts Department of Energy Resources, its rebate program, MOR-EV, has issued 26,240 rebates to people who have bought electric vehicles since the pro- gram went into effect in 2014: battery EVs account for 15,982 vehicles, and hybrid vehicles for 10,228. e DOER tracks the purchase of EVs only by cus- tomers who submit an application for a rebate, so not all electric cars purchased are not included in this tally. Electric vehicle sales are outpacing projections, said Charles Satterfield, se- nior manager of electric transportation with the national electric utility trade organization Edison Electric Institute. "Obviously things were curtailed a little bit during the COVID years, so it was not a straight line in the upward adoption curve, but that has resumed now recently," Satterfield said. "We're seeing month over month, quarter over quarter, year over year large increases in sales figures." In 2021, electric vehicles accounted for 2-4% of all light-duty vehicle sales, but this year that number has grown to 8%, Satterfield said. "We are really starting to see the in- flection curve of the adoption," he said. Servicing EV infrastructure With that adoption rate comes a need for infrastructure. If cars are no longer using gasoline, then there needs to be a fuel source nearby to abate the fear of being stranded without a place to charge your car. As part of the 2022 Infrastructure Investment and Jobs Act, the federal government plans to invest $5 billion to add charging stations along major corridors and less than one mile off highways, similar to the current gasoline station infrastructure. e U.S. will need 13 million charging ports, the vast majority of which will be in people's homes, Sat- terfield said. However, 140,000 of those need to be public fast-charging ports, and right now, 14,000 have been built, Continued from page 18 PHOTO | COURTESY OF ASPEN AEROGELS

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