The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) has closed a $102.1 million loan to Syrah Technologies LLC for the expansion of its Syrah
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 Energy Department announced Wednesday that it will give a $102 million loan to expand a processing facility for materials used in electric vehicle batteries."
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.