2024 Governor's Conference on Economic Development
RAPID CITY, S.D. – Æsir Technologies, Inc., a nickel-zinc battery manufacturer with headquarters in Joplin, Missouri, announced today that it has selected Rapid City, S.D., for its new location intended to produce nearly two-billion-watt hours of batteries per year. The batteries produced in this factory are intended to service the data center and 5G network markets, providing the necessary backup power to prevent data loss or service interruption during power outages.
The data center market has traditionally used lead-acid batteries, and lately, lithium ion has been garnering market share due to the size, weight, and lower energy density of lead.
“I want to thank Æsir Technologies for selecting Rapid City as the location for its new gigafactory. To all the employees who are planning to make the move, we look forward to welcoming you to your new home,” said Governor Kristi Noem. “We appreciate companies that dream big in the Mount Rushmore state. We want South Dakota to be the place where Æsir Technologies drives new innovations in its industry.”
With proposed employment of up to 400 employees in the first five years, the economic impact this facility will have on South Dakota and surrounding states will be exponential. According to Matt Brunner, Economic Development Director of Elevate Rapid City, the move to western South Dakota will result in high-end talent and diversified jobs in the region, making this a huge win for the state.
“This level of hi-tech manufacturing Æsir is bringing will forever change the economic landscape of our region,” Brunner said. “The jobs created here will encourage continued growth and innovation as complementary businesses come alongside their one-of-a-kind product. Æsir’s commitment to the region embodies what it means to elevate the region for all.”
Representatives from Æsir noted Phase 1 of the $250 million total projected investment was secured through a syndication with U.S. Finance and the local investment community. The State of South Dakota has proposed providing debt support for the building and equipment with an additional commitment for up to $1 million in workforce development. Dream Design International of Rapid City will be handling construction of the factory building.
“We are excited about this phase of our company’s growth,” said Randy Moore, Æsir’s president and CEO. “It is important to note that we will continue to serve the aerospace and defense part of our business plan out of our Joplin, MO. manufacturing plant.”
Æsir’s Joplin facility, and its employee base, are currently working with the U.S. Navy and Air Force to develop Nickel Zinc technology for Virginia Class Submarine and the Minuteman III ICBM, respectively. Æsir will continue to rely on defense and aerospace contracts to strengthen and grow its Joplin facility to address the growing demand for nickel zinc technology in the defense and aerospace sectors.
Æsir’s batteries are produced under non-exclusive license to use ZAF Energy Systems, Inc. intellectual property. The license includes provision for Æsir to service the aerospace, defense, medical, and critical infrastructure markets.
To learn more about Æsir, visit the company website at aesirtec.com.