Jigar Shah

Whereas Department of Energy has 10,000 plus scientists, experts, and engineers on the platform, many of whom invented the technologies And probably provided some of the money for demonstrations, etc. And so the loan programs office operates like a commercial bank, but has this mandate to lose money to make sure that we are commercializing technologies here in the United States.

Whereas Department of Energy has 10,000 plus scientists, experts, and engineers on the platform, many of whom invented the technologies And probably provided some of the money for demonstrations, etc. And so the loan programs office operates like a commercial bank, but has this mandate to lose money to make sure that we are commercializing technologies here in the United States.

And oh, along the way, we haven't actually lost money. We've made money for the federal government.

And oh, along the way, we haven't actually lost money. We've made money for the federal government.

Well, remember, I think starting in around 2018, there were huge funds that were created to support the next generation of climate companies. And then that number continued to expand exponentially, right, in 2019, 2020, 2021. And there were thousands of companies that got investment from the private sector. And so part of, I think, what

Well, remember, I think starting in around 2018, there were huge funds that were created to support the next generation of climate companies. And then that number continued to expand exponentially, right, in 2019, 2020, 2021. And there were thousands of companies that got investment from the private sector. And so part of, I think, what

the Biden administration realized was that we had this moment again where those companies could either build things here in the United States or they could go overseas. And a lot of those companies were starting to become ready to commercialize here. And I think that at the core of this, there was a recognition that these projects were going to be big.

the Biden administration realized was that we had this moment again where those companies could either build things here in the United States or they could go overseas. And a lot of those companies were starting to become ready to commercialize here. And I think that at the core of this, there was a recognition that these projects were going to be big.

So when you think about, for instance, the three biggest automakers and the battery manufacturing plants that they're building, each one of those plants were multi-billion dollar endeavors. And so I think it was very clear by the time we got into 2022 and the legislative session that the loan programs office needed to be beefed up. And so

So when you think about, for instance, the three biggest automakers and the battery manufacturing plants that they're building, each one of those plants were multi-billion dollar endeavors. And so I think it was very clear by the time we got into 2022 and the legislative session that the loan programs office needed to be beefed up. And so

We were seeing so much interest in using the loan programs office. And there were tons of libertarian folks who were like, wait a second, I don't think I'm going to be able to get this company to scale and exit unless we figure out a beefed up loan programs office.

We were seeing so much interest in using the loan programs office. And there were tons of libertarian folks who were like, wait a second, I don't think I'm going to be able to get this company to scale and exit unless we figure out a beefed up loan programs office.

Yeah, I mean, so the identities of the actual loan applicants are confidential, but I can maybe talk about it from a sector perspective.

Yeah, I mean, so the identities of the actual loan applicants are confidential, but I can maybe talk about it from a sector perspective.

Yeah, I can certainly do that. I think, so there's some broad categories, right? Clearly, battery manufacturing has been a huge highlight of our industry. four years in office. And so you've got 400 gigawatt hours worth of battery manufacturing. But then you've got critical minerals production facilities here in the United States that are going to feed those battery manufacturing facilities.

Yeah, I can certainly do that. I think, so there's some broad categories, right? Clearly, battery manufacturing has been a huge highlight of our industry. four years in office. And so you've got 400 gigawatt hours worth of battery manufacturing. But then you've got critical minerals production facilities here in the United States that are going to feed those battery manufacturing facilities.

And remember, auto companies are some of the most sophisticated companies in the world from a supply chain standpoint. They have to buy stuff from many, many countries and assemble it all into one place. And so they're also very nervous about 90% of processed critical minerals coming from China.

And remember, auto companies are some of the most sophisticated companies in the world from a supply chain standpoint. They have to buy stuff from many, many countries and assemble it all into one place. And so they're also very nervous about 90% of processed critical minerals coming from China.

And so we're now on track with the lithium loans that we provide to Thacker Pass, the conditional commitment to Rhylite Ridge, Ioneer in Nevada, the graphite processing facility in Vidalia. Louisiana. We have a number of grants that the manufacturing supply chain office provided to folks.

And so we're now on track with the lithium loans that we provide to Thacker Pass, the conditional commitment to Rhylite Ridge, Ioneer in Nevada, the graphite processing facility in Vidalia. Louisiana. We have a number of grants that the manufacturing supply chain office provided to folks.