Natron Energy to invest $1.4 billion in a sodium-ion battery manufacturing plant at the Kingsboro Megasite in Edgecombe County, North Carolina.
This investment is expected to create over 1,000 jobs, with an average wage well above the local median, directly impacting employment in Rocky Mount and surrounding areas.
Over a 12-year period, the project is projected to contribute approximately $3.4 billion to the state’s economy, supported by substantial state and local incentives.
Governor Cooper’s October 2024 Announcement
Update as of 10/29/2024:
Governor Roy Cooper announced that Natron Energy, a leading sodium-ion battery company, will establish the first U.S. sodium-ion battery gigafactory at the Kingsboro Megasite in Edgecombe County, North Carolina. This $1.4 billion investment will create over 1,000 jobs, marking a significant boost for the state’s clean energy sector.
Natron’s innovative, non-flammable sodium-ion batteries, which use patented Prussian blue electrodes, offer longer life cycles and improved safety compared to lithium-ion alternatives. These batteries serve various industries, including AI data centers, defense, and EV fast-charging infrastructure.
The project, supported by a 12-year Job Development Investment Grant (JDIG), is expected to contribute $3.4 billion to the state economy and yield a 22% return on investment. Additional state support, including up to $30 million from the Megasite Readiness Program, will aid infrastructure improvements. The average salary for new positions will be $64,071, exceeding the county’s current average wage.
The collaborative efforts of the North Carolina Department of Commerce, state agencies, and local partners facilitated Natron’s decision, underscoring North Carolina’s role as a hub for battery manufacturing and clean energy innovation.
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Governor’s Announcement Oct 2024
Doug has held income properties in North Carolina for more than 20 years. He holds a North Carolina broker’s license, and is a member of the National Association of Realtors and the Triangle Real Estate Investors Association. A lifelong learner, he holds an MBA and a PhD in business, and continues his education by attending meetings of the Society of Exchange Counselors and the National Counsel of Exchangors. In addition to his extensive real estate activities, Doug enjoyed a successful career in academia, achieving the rank of Full Professor in the Cameron School of Business at UNC Wilmington. He was honored with research and teaching awards, served as Director of the MS Computer Science and Information Systems program, and was awarded the endowed position Distinguished Professor of Information Systems.
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