Rhyolite Ridge Receives $996 Million Loan Guarantee from U.S. DOE
– Ioneer Rhyolite Ridge LLC has secured a $996 million loan guarantee from the U.S. Department of Energy’s Loan Programs Office (LPO).
– The loan includes $968 million of principal and $28 million of capitalized interest to support the processing of lithium carbonate.
– This initiative aims to advance domestic production of lithium carbonate to strengthen the U.S. battery supply chain, particularly for electric vehicles (EVs).
Author’s Take
The significant financial support provided by the U.S. DOE to Ioneer Rhyolite Ridge marks a crucial step in boosting the production of lithium carbonate domestically. This move not only accelerates the development of the EV battery supply chain but also underscores the importance of sustainable energy solutions in driving the future of transportation.
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