StoryCommercial
Syrah Resources awarded $165M Inflation Reduction Act tax credit for Vidalia expansion
Syrah Resources' subsidiary Syrah Technologies was awarded $165 million in tax credits under the US Inflation Reduction Act's Section 48C program. The credit supports expansion of the Vidalia active anode material facility from 11.25 kt/yr to 45 kt/yr capacity, strengthening the North American critical minerals supply chain for battery production.
- $165M IRA tax credit awarded to support 45 kt/yr expansion
- Total expansion investment estimated at >$586M
- Definitive feasibility study confirms technical and financial viability
- FID timing dependent on customer commitments and project financing
- Expansion supports up to 600 direct and 120 indirect construction jobs