The US Department of Energy’s (DOE) Loan Programs Office (LPO) has closed a $102.1-million loan to Australia-based Syrah Technologies LLC for the expansion of its Syrah Vidalia Facility in Louisiana a processing facility that produces graphite-based active anode material (AAM), a critical material used in lithium-ion batteries for electric vehicles (EVs).
The Department of Energy’s (DOE’s) Loan Programs Office (LPO) has offered a conditional commitment for a US$107-million loan to Syrah Technologies to fund the expansion of its Vidalia graphite-based active anode material (AAM) facility in Louisiana to 11.25 ktpa AAM production capacity. (Earlier post.) With this newly expanded production capacity,.
Syrah Vidalia will also help grow Louisiana’s auto manufacturing industry by creating approximately 150 construction jobs and 98 good-paying, highly skilled operations jobs within the clean energy sector.
Syrah Technologies plans to produce enough natural graphite-based active anode material in Louisiana for approximately 2.5 million electric vehicles by 2040.