Natron Energy Halts Operations, Abandoning $1.4 Billion North Carolina Battery Plant

Natron Energy, a California-based innovator in sodium-ion battery technology, has ceased operations, effectively terminating plans for a $1.4 billion manufacturing facility in Edgecombe County, North Carolina.

 

The abrupt shutdown has left the community grappling with the loss of over 1,000 anticipated jobs and a significant economic uplift.

 

In an internal memo to employees, the company cited insurmountable financial challenges as the primary reason for discontinuing operations.

 

“We appreciate our customers and partners' support through our journey, and this is not how we or anyone at Natron wanted this to end,” the memo stated.

 

It further explained that a small team would be retained to ensure a safe and environmentally responsible shutdown, but all commercial activities would cease immediately.

 

The closure affects 95 employees across Natron's facilities in Holland, Michigan, and Santa Clara, California.

 

These employees received a Worker Adjustment and Retraining Notification (WARN) Act notice dated August 28, indicating the cessation of operations on September 3.

 

The WARN filing revealed that the company's efforts to secure additional funding were unsuccessful.

 

“On August 27, 2025, Natron’s board of directors determined that Natron’s efforts to raise sufficient new funding were unsuccessful, having failed to result in sufficient funding proceeds to cover the required additional working capital and operational expenses of the business required to support execution of any purchase orders received by Natron,” the filing read.

 

Natron’s sodium-ion batteries were the only UL-listed sodium-ion batteries on the market, offering advantages over traditional lithium-ion batteries, including higher power density, faster recharge times, and enhanced safety features.

 

They were intended for use in markets like data centers, mobility, EV fast charging, microgrids, and telecom.

 

In August 2024, Natron announced plans to build the $1.4 billion factory at the Kingsboro CSX Select Megasite near Rocky Mount, promising to create 1,000 jobs with an average salary of $64,071, exceeding Edgecombe County’s average wage of $43,183.

 

The state had awarded the company a $21.7 million Job Development Investment Grant (JDIG) for a 12-year term and $30 million from the North Carolina Megasite Readiness Program for on-site preparation, with the expectation that the project would grow the state’s economy by $3.4 billion.

 

According to the Economic Development Partnership of North Carolina (EDPNC), Natron was the first recipient of Megasite Readiness Program funds.

 

None of the funds have been distributed.

 

Reports indicate that Natron Energy has faced financial issues for several months.

 

The company’s proposed $1.4 billion investment was also the fifth largest corporate investment from July 2023 to June 2025, with Amazon Web Services topping the list at $10 billion.

 

This marks the second setback for the Kingsboro Megasite in recent years.

 

In 2017, Chinese-owned Triangle Tyre announced plans for a tire-making operation at the site, promising 800 jobs and a $580 million investment.

 

In May 2022, the company pulled out of the project.

 

JDIG grants have faced criticism in the state, with many companies failing to fulfill their commitments despite the incentives provided.

 

For instance, in July, clinical trial lab services provider Q2 Solutions announced it couldn’t fulfill its agreement to create 750 jobs over seven years and invest $84 million.

 

A subsidiary of IQVIA, Q2 officials informed the state in a June 26 letter that it would have to terminate two separate JDIG agreements from November 2019.