EnerSys Selects Greenville, SC, to Advance its Lithium Battery Production in the United States

EnerSys (NYSE: ENS), a global leader in stored energy solutions for industrial applications, said it has selected Greenville, South Carolina, to develop a lithium-ion cell gigafactory to advance battery production in the United States.

Reading, Pennsylvania-based  EnerSys said it has applied for a comprehensive incentive package through South Carolina and Greenville County valued at approximately $200 million, which includes a combination of short-term and long-term incentives. 

The company said it intends to use a portion of these proceeds, along with the Inflation Reduction Act (IRA) IRC 45X tax benefits and potential additional federal funding, to make a $500 million investment with the potential to create 500 jobs.

Officials said the new factory represents a long-term opportunity that will enable growth and allow EnerSys to optimize cell sizing in battery solutions for its customers, providing independence from non-domestic cell suppliers.

EnerSys is evaluating development of a 500,000 square foot state-of the-art manufacturing facility on approximately 140 acres in the Augusta Grove business park in Greenville. 

The operation, which would be the company’s second in South Carolina, would manufacture various form factors of lithium-ion cells for commercial, industrial and defense applications, with a production capacity of four gigawatt hours (GWh) per year.

“We recognize Greenville as an emerging hub for high-tech companies with an attractive talent pool in a thriving community. EnerSys is accelerating the global clean energy transition by significantly expanding our production of lithium-ion batteries across a broad range of end markets and applications. With the support of South Carolina and Greenville County this factory will help us meet our customers’ needs, including those with specific manufacturing requirements for domestic sourced batteries,” said EnerSys President and CEO David M. Shaffer.

"This investment will shape the region's future, fostering sustained prosperity for South Carolina in the years ahead,” said Gov. Henry McMaster.

The latest development comes after EnerSys announced June 14, 2023, that it had entered into a non-binding Memorandum of Understanding (MOU) with Verkor SAS, a European leader in battery technology, to explore the development of a lithium battery gigafactory in the United States.

The company is targeting construction to begin in early 2025 and operations to be online in late 2027.

The transaction, among other things, is subject to customary closing conditions, final board approval, regulatory and incentive approvals.

EnerSys designs, manufactures, and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide.

The company goes to market through four lines of business: Energy Systems, Motive Power, Specialty and New Ventures. 

Energy Systems, which combine power conversion, power distribution, energy storage, and enclosures, are used in the telecommunication, broadband and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions.

Motive power batteries and chargers are utilized in electric forklift trucks and other industrial electric powered vehicles.

Specialty batteries are used in aerospace and defense applications, large over-the-road trucks, premium automotive, medical and security systems applications. 

New Ventures provides energy storage and management systems for various applications including demand charge reduction, utility back-up power, and fast charging for electric vehicles. 

EnerSys also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world.

Governor Ceremonially Signs H. 3690, the ESG Pension Protection Act

Gov. Henry McMaster on Feb. 14, 2024, was joined by members of the General Assembly for a ceremonial bill signing of H. 3690, the ESG Pension Protection Act.

The bill ensures all investment decisions by the South Carolina Retirement System Investment Commission (RSIC) are based solely on maximizing the highest rate of return for participants and beneficiaries and not based on factors like the environmental, social, and corporate governance (ESG) movement. 

"South Carolina's economy continues to break records thanks to our conservative, fiscally responsible approach," McMaster said. "This bill – which passed with overwhelming bipartisan support – is yet another example of our commitment to responsible financial stewardship and will safeguard the interests of our retirees and taxpayers from the liberal ESG agenda." 

The bill provides a list of factors for the RSIC to consider when investing and managing assets, including general economic conditions, the possible effect of inflation or deflation, the role of an investment within the overall retirement system portfolio, the needs for liquidity, and the adequacy of funding for the plan based on reasonable actuarial factors.

The bill also requires the RSIC to adopt a statement of investment objectives and policies for the retirement system.

The statement must include an overall desired rate of return for the portfolio, a desired rate of return and acceptable levels of risk for each asset class, asset-allocation goals, and an explicit statement that all investment decisions must be based only on pecuniary factors.

The RSIC has exclusive authority for investing and managing all assets held in trust for the participants and beneficiaries of the five state-defined benefit plans, collectively called the Retirement System. 

The bill passed the House 103-5 and the Senate 45-0. 

Cypress Commercial & Investment Real Estate Announces Strong Year-End Results  

Cypress Commercial & Investment Real Estate, a leading commercial real estate brokerage company, announced year-end results for 2023 of 29 real estate transactions representing a value of more than $29 million. 

The year-end numbers represent a nearly 50 percent increase in the number of transactions and  a 22 percent increase in the value of transactions over the prior year.  

“The growth of our business during a challenging year of higher interest rates and market uncertainty is the result of our team’s hard work, expertise and commitment to our clients,” said Mark James, broker in charge and managing partner of Cypress Commercial and Investment Real Estate.

James added, “Although  we continue to face market headwinds and the wild card of an election year, we remain optimistic that 2024 will be a good year for commercial real estate with stabilized interest rates and strong  demand for commercial properties. We look forward to continuing to provide superior service and innovative solutions to our clients.” 

Notable transactions for the year included:  

* Negotiation of a long-term lease for RSi (Receivable Solutions, LLC) in their relocation to the entire top floor of 1441 Main St., formerly occupied by Wells Fargo. The 20,048-square-foot relocation was the largest new office lease along Main Street year-to-date in 2023. 

* Sale of more than a dozen income properties to include Bojangles, Dollar Generals, and Firehouse Subs in locations across the Southeast. 

* Sale of the former Wells Fargo branch at Garners Ferry Road and Rosewood Extension. Cypress also secured a long-term lease of the building with Chase Bank, who will be opening a branch in early 2024. 

* Sale of 1721 Harden St., Columbia, the property that houses Columbia’s iconic Barron’s Outfitters.

* Representation of Blanding Ventures, LLC, in the expansion and long-term  lease renewal of Propel Insurance, an Alera Group Company and one of the  largest privately held agencies in the nation, at 1410 Blanding St. 

Columbia-based Cypress Commercial & Investment Real Estate specializes in the sale of net leased properties, multi-tenant investments, and general commercial properties, including 1031  exchange properties, with a strong emphasis on the Carolinas and the Eastern Seaboard.

Hilton Head Realtor Cindy Creamer Named 2023 South Carolina Realtor of the Year

South Carolina REALTOR (SCR) member and Hilton Head Realtor Cindy Creamer has been named the association’s 2023 REALTOR of the Year.

The announcement was made during SCR’s annual Awards Gala and Installation of Officers. 

The South Carolina REALTOR of the Year program is the association’s most prestigious award. It was established in 1955 and has been designed to honor and recognize those Realtor members who have contributed most to the advancement of the South Carolina real estate profession and community. 

Creamer, who was SCR’s 2022 president, has been a Realtor since 2006 with Dunes Real Estate in Hilton Head, South Carolina. She is a National Association of REALTORS (NAR) director, and was recently elected as the 2025 Region 4 Vice President representing the four-state region including South Carolina, North Carolina, Kentucky and Tennessee.

She holds Realtor designations as an Accredited Buyers Representative (ABR), Short Sales and Foreclosure Resource (SFR), Certified Negotiation Expert (CFN) and Commitment to Excellence (C2EX).

She served on the 2022 NAR State and Local Issues Mobilization Committee, previously served on the REALTOR Political Action Committee (RPAC) Participation Council from 2018-202, Major Investor Council from 2023-2024, and has been a president’s circle member since 2017. 

In addition, she served two terms on the SCR executive committee as the regional vice president for 2016 and 2017 and was also president of the Hilton Head Area REALTORS (HHAR) in 2015 and 2018.

She was elected in 2010 to serve on its board of directors. Creamer was a recipient of the President’s Service Award for 2014. She received the Realtor Service Award from 2010 to present and was HHAR’s 2016 REALTOR of the Year.

Creamer serves her local community in various roles. She serves on the board of directors of Hospice Care of the Lowcountry. From 2016-2019 she was appointed to the Hilton Head Town Venue Committee as the chairman. She also currently serves on the board of directors for the Children’s Trust of South Carolina. 

“SCR is proud and honored to have Cindy represent all of the Realtors in our state as the 2023 South Carolina REALTOR of the Year. Her dedication, expertise and unwavering commitment to excellence have not only set a benchmark for her peers but have also elevated the standard of who we should strive to be as Realtors,” said SCR’s 2024 President Reah Smith.

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]