ATVM

Mullen Submits ATVM Loan Opportunity to the Department of Energy (‘DOE’) for Domestic Battery Materials Processing

Retrieved on: 
Wednesday, January 10, 2024
EVS, ATVM, Federation, Congress, IBN

BREA, Calif., Jan. 10, 2024 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces its subsidiary Mullen Advanced Energy, LLC (“Mullen Advanced Energy”) submitted a pre-application to the U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program to support its expansion into domestic battery manufacturing. The ATVM is a $25 billion-dollar direct loan program funded by Congress in fall 2008 to provide debt capital to the U.S. automotive industry for the purpose of funding projects that help vehicles manufactured in the U.S. meet higher mileage requirements and lessen U.S. dependence on foreign oil.

Key Points: 
  • (NASDAQ: MULN ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announces its subsidiary Mullen Advanced Energy, LLC (“Mullen Advanced Energy”) submitted a pre-application to the U.S. Department of Energy (“DOE”) Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program to support its expansion into domestic battery manufacturing.
  • The Mullen submission is a first step in the ATVM loan process.
  • “We are fully committed to transitioning the manufacturing of EVs and their related components in the U.S.,” said David Michery, CEO and chairman of Mullen Automotive.
  • “We are grateful for the vision of Congress and the federal government to provide resources to support the establishment of U.S.-based battery manufacturing.”

Piedmont Lithium Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
EV, Electric Vehicles, Automotive, General Automotive, Chemicals, Plastics, Automotive Manufacturing, Alternative Energy, Manufacturing, Energy, Mining, Minerals, Natural Resources, Lithium, Advanced Technology Vehicles Manufacturing Loan Program, U.S. Department of Energy, Office of Inspector General, ATVM, Public expenditure, United States Environmental Protection Agency, Nature, Mineral, Marketing, NAL, Economic development, Minerals Income Investment Fund, DOE, U.S. Department of Agriculture Cotton Annex, Parliament of Ghana, Investment, Commissioner, Environmental Protection Agency (Ghana), Concentrate, Security (finance), Atlantic Ocean

For financial statement purposes, Piedmont reports income (loss) from its 25% ownership in Sayona Quebec, which includes NAL, on a one-quarter lag.

Key Points: 
  • For financial statement purposes, Piedmont reports income (loss) from its 25% ownership in Sayona Quebec, which includes NAL, on a one-quarter lag.
  • Piedmont would continue to maintain a 50% life-of-mine offtake right to future lithium concentrate production from Atlantic Lithium Ghana under these agreements.
  • In Q4’23, Piedmont paid $1.5 million to acquire a 19.9% equity interest in Vinland Lithium, which owns the Killick Lithium Project in southern Newfoundland, Canada.
  • Piedmont has the right to earn up to a 62.5% equity interest through staged investments in Killick Lithium.

CORRECTING AND REPLACING: NOVONIX Finalizes US$100 Million Grant Award from U.S. Department of Energy

Retrieved on: 
Monday, November 6, 2023
ASX, U.S. Department of Energy, Office of Inspector General, MESC, US, ATVM, NVX, Workforce, United, Engineering, Admiral, RET, USN, DOE, BIL, U.S. Department of Defense Strategy for Operating in Cyberspace, Forest Law Enforcement and Governance Program, Renewable energy

BRISBANE, Australia, Nov. 07, 2023 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, today announced that its NOVONIX Anode Materials division finalized its US$100 million grant award from the U.S. Department of Energy (DOE) to expand domestic production of high-performance, synthetic graphite anode materials at its Riverside facility in Chattanooga, Tennessee.

Key Points: 
  • The DOE grant funding will support the installation and commissioning of equipment to produce the targeted 20,000 tpa of capacity from Riverside.
  • “We are excited to complete the award negotiation with the DOE and expand the capacity of our Riverside facility.
  • NOVONIX also continues to advance plans for a new production facility with an initial production target of at least 30,000 tpa.
  • This announcement has been authorized for release by NOVONIX Chairman, Admiral Robert J. Natter, USN Ret.

NOVONIX Finalizes US$100 Million Grant Award from U.S. Department of Energy

Retrieved on: 
Tuesday, October 31, 2023
ASX, U.S. Department of Energy, Office of Inspector General, US, ATVM, NVX, Engineering, Admiral, RET, USN, DOE, BIL, U.S. Department of Defense Strategy for Operating in Cyberspace, Forest Law Enforcement and Governance Program, Renewable energy

BRISBANE, Australia, Nov. 01, 2023 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, today announced that its NOVONIX Anode Materials division finalized its US$100 million grant award from the U.S. Department of Energy (DOE) to expand domestic production of high-performance, synthetic graphite anode materials at its Riverside facility in Chattanooga, Tennessee.

Key Points: 
  • The DOE grant funding will support the installation and commissioning of equipment to produce the targeted 20,000 tpa of capacity from Riverside.
  • In addition to the US$100 million DOE grant funding, the Company expects its cash position, customer revenues, additional government programs, strategic partners and other capital sources to fund planned growth.
  • “We are excited to complete the award negotiation with the DOE and expand the capacity of our Riverside facility.
  • NOVONIX also continues to advance plans for a new production facility with an initial production target of at least 30,000 tpa.

KORE Power Selects Siemens Xcelerator to Optimize Production at Arizona Gigafactory

Retrieved on: 
Wednesday, October 4, 2023
Technology, Automotive, General Automotive, Other Energy, Other Manufacturing, Utilities, Alternative Energy, Engineering, Energy, Automotive Manufacturing, Other Technology, Manufacturing, Software, Environment, Hardware, Venture Capital, Consumer Electronics, EV, Siemens Financial Services, U.S. Department of Defense Strategy for Operating in Cyberspace, KORE, Advanced Technology Vehicles Manufacturing Loan Program, Cell, LPO, Xcelerator, Siemens Healthineers, Kilowatt-hour, Vehicle registration plates of Nepal, ATVM, Transport, Safety, Automation, Mobile phone, Renewable energy, Buckeye, Siemens Energy

From production design to planning and simulation, Siemens is helping companies of all sizes simulate and automate the production process to deliver efficiency and safety.

Key Points: 
  • From production design to planning and simulation, Siemens is helping companies of all sizes simulate and automate the production process to deliver efficiency and safety.
  • The collaboration between Siemens and KORE Power underscores both companies’ commitment to driving innovation, operational excellence, and sustainability in the energy sector.
  • "We're thrilled to see KORE Power harness the transformative capabilities of Siemens' Xcelerator for their state-of-the-art KOREPlex gigafactory in Arizona,” said Barbara Humpton, President and CEO of Siemens USA.
  • At Siemens, we remain steadfast in our mission to empower industry leaders like KORE Power to achieve new heights in efficiency and digitalization."

KORE Power Announces Major Offtake Agreement with Energy Vault for Domestic Batteries Starting in 2025

Retrieved on: 
Wednesday, August 9, 2023
Environment, Other Energy, Chemicals, Plastics, Environmental Health, Utilities, Manufacturing, Alternative Energy, Sustainability, Energy, Quanta, Siemens Financial Services, Senior, Quanta Services, U.S. Department of Defense Strategy for Operating in Cyberspace, KORE, Energy Vault, LFP, LPO, Advanced Technology Vehicles Manufacturing Loan Program, Cell, NMC, Economics, IRA, Honeywell, Kilowatt-hour, ATVM, News, Corporate development, Electric battery, Renewable energy

KORE Power, Inc. (KORE) has been selected by Energy Vault to deliver domestically produced batteries starting in 2025, when phase one of the KOREPlex facility in Arizona comes online.

Key Points: 
  • KORE Power, Inc. (KORE) has been selected by Energy Vault to deliver domestically produced batteries starting in 2025, when phase one of the KOREPlex facility in Arizona comes online.
  • In the first phase of the agreement with Energy Vault, KORE Power will manufacture the batteries at its KOREPlex facility in Buckeye, AZ.
  • “Energy Vault sought a strategic domestic battery manufacturing partner that would provide an advantage to our grid-scale energy storage solution customers,” said Marco Terruzzin, Chief Commercial & Product Officer, Energy Vault.
  • “We see KORE Power leading the way as one of the first independent domestic manufacturers,” said Kevin Keough, Senior Vice President of Corporate Development, Energy Vault.

KORE Power Receives Conditional Commitment for $850 Million from the U.S. Department of Energy’s Loan Programs Office for the KOREPlex Advanced Battery Manufacturing Facility

Retrieved on: 
Friday, June 9, 2023
Technology, Automotive Manufacturing, EV, Electric Vehicles, Other Energy, Utilities, Manufacturing, Alternative Vehicles, Fuels, Automotive, Batteries, Public Policy, Government, Alternative Energy, Energy, White House, Federal Government, State, Local, U.S. Department of Defense Strategy for Operating in Cyberspace, KORE, University, Multimedia, Advanced Technology Vehicles Manufacturing Loan Program, Cell, LFP, LPO, NMC, Inflation, Vehicle registration plates of Nepal, ATVM, Digital, Inflation Reduction Act of 2022, News, Electric battery, Renewable energy

KORE Power, Inc. (KORE) has received a conditional commitment from the U.S. Department of Energy’s Loan Programs Office (LPO) for a loan in the principal amount of $850 million under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program‎.

Key Points: 
  • KORE Power, Inc. (KORE) has received a conditional commitment from the U.S. Department of Energy’s Loan Programs Office (LPO) for a loan in the principal amount of $850 million under the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program‎.
  • View the full release here: https://www.businesswire.com/news/home/20230609005051/en/
    Digital rendering of the KOREPlex (Photo: Business Wire)
    The loan will be used to fund the construction of KORE’s advanced battery cell manufacturing facility in Buckeye, Arizona‎.
  • The KOREPlex, a 1,330,000-square-foot facility, will house multiple production ‎lines to manufacture batteries for electric vehicles (EV) and energy storage systems in the United States.
  • The KOREPlex will produce cells using two chemistries: nickel manganese cobalt (NMC) and lithium-ion iron phosphate (LFP).

Lithium Americas Provides General Motors Transaction Details and Update on Construction Plan for Thacker Pass  

Retrieved on: 
Tuesday, January 31, 2023
Lithium, Lithium carbonate, EDGAR, Dorsey & Whitney, Separation, ROD, SEDAR, Hoskin, Crystallization, BMO Capital Markets, EV, NYSE, Morgan Stanley, Advanced Technology Vehicles Manufacturing Loan Program, National instrument, TSX, Asset purchase agreement, Bill, Blackwell, LLP, Water, LAC, Construction management, Bechtel, Liverpool Offtake Reservoir, Transaction, Feasibility study, Indian stock exchange, GM, ROFO, U.S. Department of Energy, Office of Inspector General, McCarthy, U.S. Department of Defense Strategy for Operating in Cyberspace, AEW, ATVM, Tranche, Exercise, Engineering, General Motors, NewCo, Security (finance), Fine chemical, Real estate, Renewable energy, Holding company, Thacker Pass lithium deposit

In connection with the Transaction, the Company has provided an update on the construction plan for the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass” or the “Project”), including the release of an independent National Instrument 43-101 (“NI 43-101”) feasibility study (“Feasibility Study”).

Key Points: 
  • In connection with the Transaction, the Company has provided an update on the construction plan for the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass” or the “Project”), including the release of an independent National Instrument 43-101 (“NI 43-101”) feasibility study (“Feasibility Study”).
  • Investment also supports the Company’s previously announced Separation by creating the foundation for an independent U.S. business focused on Thacker Pass and a North American lithium supply chain (“Lithium Americas (NewCo)”).
  • Advancing Thacker Pass construction plan targeting 80,000 tonnes per annum (“tpa”) of battery-quality lithium carbonate (“Li2CO3”) production capacity in two phases of 40,000 tpa, respectively (“Phase 1” and “Phase 2”).
  • Lithium Americas has agreed to use the proceeds from the Transaction for the development of Thacker Pass.

U.S. Department of Energy Offers Conditional Commitment for a Loan of Up to US$700 Million for the Rhyolite Ridge Project

Retrieved on: 
Friday, January 13, 2023
Lithium, National Environmental Policy Act, Climate change, BLM, Ecosystem, Project, Sibanye-Stillwater, EV, Metal, Advanced Technology Vehicles Manufacturing Loan Program, DOE, Economic policy of the Joe Biden administration, ROD, Documentation, Mining, NEPA, EVS, U.S. Department of Defense Strategy for Operating in Cyberspace, Conditional, INR, FID, Goldman Sachs, Promise, ATVM, U.S. Department of Energy, Office of Inspector General, Economics, P85, ASX, Engineering, Vinson & Elkins, Macquarie Group, Boron, Rhyolite, LPO, Wardwell, Original equipment manufacturer, United States Department of the Treasury, Bank, Security (finance), Renewable energy, Oil, Financial adviser, Ioneer

RENO, Nev., Jan. 13, 2023 /PRNewswire/ -- ioneer Ltd ("Ioneer" or the "Company") (ASX: INR, Nasdaq: IONR) is pleased to announce finalisation of a term sheet and offer of a Conditional Commitment1 for a proposed loan of up to US$700 million2 from the U.S. Department of Energy (DOE) Loan Programs Office for financing the construction of the Rhyolite Ridge Lithium-Boron Project in Nevada, USA.

Key Points: 
  • Domestic processing of critical minerals, such as lithium, for use in EV batteries qualifies for the ATVM loan program3.
  • After commencing pre-application discussions in February 2021 regarding the DOE's ATVM loan program, Ioneer submitted an application in October 2021.
  • The Loan Programs Office has undertaken extensive and detailed market, technical and legal due diligence on both Ioneer and the Rhyolite Ridge Project.
  • Finalising the term sheet and receiving the Conditional Commitment from the DOE represent a significant step towards completing the funding for the Rhyolite Ridge Project.

U.S. Department of Energy Awards Sila $100 Million to Scale Manufacturing of its Next-generation Anode Materials

Retrieved on: 
Wednesday, October 19, 2022
Other Manufacturing, Technology, EV, Electric Vehicles, Automotive, Other Energy, Automotive Manufacturing, Manufacturing, Energy, Batteries, Adoption, MESC, Electronics, Acceleration, Energy efficiency, CPP Investment Board, Silicon, Bessemer Venture Partners, Matrix Partners, Multimedia, Technology, DOE, Kilowatt-hour, Department, Mercedes-Benz, EV, Mercedes-Benz G-Class, CEO, Sutter Hill Ventures, Safety, Chemistry, ATVM, Site, Primary energy, View, Lithium, Renewable energy

The US Department of Energy (DOE) today announced it has awarded Sila, a next-generation battery materials company, $100 million to fund the build-out of its 600,000+ square foot facility in Moses Lake, WA and scale manufacturing of its breakthrough silicon anode materials.

Key Points: 
  • The US Department of Energy (DOE) today announced it has awarded Sila, a next-generation battery materials company, $100 million to fund the build-out of its 600,000+ square foot facility in Moses Lake, WA and scale manufacturing of its breakthrough silicon anode materials.
  • DOEs Office of Manufacturing and Energy Supply Chains (MESC) is responsible for strengthening and securing manufacturing and energy supply chains needed to modernize the nations energy infrastructure and support a clean and equitable energy transition.
  • Founded in 2011, Sila is a next-generation battery materials company with the mission to power the worlds transition to clean energy.
  • Committed to American leadership in clean energy production, Sila is scaling its technology at its manufacturing facility in Moses Lake, Washington.