Jigar Shah

I mean, that's how it provides the benefits to all of the other folks. And so that has to be the thing that is the thing that we're most focused on is that is this company going to succeed? Are the products that it's making in demand? Is the expertise required to stay ahead of its competitors something that DOE is working on? And so I would suggest to you that that has been the central tenet.

I mean, that's how it provides the benefits to all of the other folks. And so that has to be the thing that is the thing that we're most focused on is that is this company going to succeed? Are the products that it's making in demand? Is the expertise required to stay ahead of its competitors something that DOE is working on? And so I would suggest to you that that has been the central tenet.

And when you think about the loan programs office's approach, our approach and our due diligence has been the golden ticket for all the companies that have gotten conditional commitments, every one of them to date. And what we've told people is... You have to make sure that labor is not something that is going to make your project fail.

And when you think about the loan programs office's approach, our approach and our due diligence has been the golden ticket for all the companies that have gotten conditional commitments, every one of them to date. And what we've told people is... You have to make sure that labor is not something that is going to make your project fail.

Like, you need to hire people who are experts at their craft. You need to make sure that those people do the job right the first time. And people have done that because it has de-risked their project. And we've said, hey, it's great for you to talk to the community. We're not giving them a veto.

Like, you need to hire people who are experts at their craft. You need to make sure that those people do the job right the first time. And people have done that because it has de-risked their project. And we've said, hey, it's great for you to talk to the community. We're not giving them a veto.

But we are saying that, like, if you don't have a good relationship with the community, we're not really sure how you're going to get the, you know, changes to your permit that you're going to need in five years or the expansion plans you want to do in five years, etc. So, like... You should talk to them. And when it's been scary, we've facilitated the conversation.

But we are saying that, like, if you don't have a good relationship with the community, we're not really sure how you're going to get the, you know, changes to your permit that you're going to need in five years or the expansion plans you want to do in five years, etc. So, like... You should talk to them. And when it's been scary, we've facilitated the conversation.

Yeah, it's a good question, right? I think we all first have to acknowledge where we were as a country when President Biden came into office, right? America was really doubting itself and doubting its ability to do these big things. Most investors were saying to their CEOs, I know you want to do things in America, but that's just too risky.

Yeah, it's a good question, right? I think we all first have to acknowledge where we were as a country when President Biden came into office, right? America was really doubting itself and doubting its ability to do these big things. Most investors were saying to their CEOs, I know you want to do things in America, but that's just too risky.

So now we had to go to these CEOs and say, how do we arm you with the information that you need to convince your investors that this is the place that we can do business? And along the way, people are like, well... You know, I don't want to have a great track record on megaprojects here in the United States. A lot of projects are over budget and take longer.

So now we had to go to these CEOs and say, how do we arm you with the information that you need to convince your investors that this is the place that we can do business? And along the way, people are like, well... You know, I don't want to have a great track record on megaprojects here in the United States. A lot of projects are over budget and take longer.

And so we had to say, well, what are the best practices on megaprojects? Oh, you should be spending 10% of your entire budget up front on planning before you start construction, right? Oh, you should have higher quality workforce, right? And all these things. And so a lot of the companies were like... wait, this isn't free money? This is not a grant? And I was like, no, it's not a grant.

And so we had to say, well, what are the best practices on megaprojects? Oh, you should be spending 10% of your entire budget up front on planning before you start construction, right? Oh, you should have higher quality workforce, right? And all these things. And so a lot of the companies were like... wait, this isn't free money? This is not a grant? And I was like, no, it's not a grant.

And even if we were to give you a grant, which the Loan Programs Office doesn't do, we still want you to succeed. We don't want to just give you money and then have you fail and then for Chinese companies to buy all of your IP in bankruptcy.

And even if we were to give you a grant, which the Loan Programs Office doesn't do, we still want you to succeed. We don't want to just give you money and then have you fail and then for Chinese companies to buy all of your IP in bankruptcy.

Which is it? Too much process? Or is Jigar like pushing money out the door too fast? I think that when you do these billion dollar projects, there has to be a level of sobriety around how hard it is to do these things. And I think that a lot of the people that came into the loan programs office did not have that level of sobriety.

Which is it? Too much process? Or is Jigar like pushing money out the door too fast? I think that when you do these billion dollar projects, there has to be a level of sobriety around how hard it is to do these things. And I think that a lot of the people that came into the loan programs office did not have that level of sobriety.

Now, it's not my job to, like, impose that on them, but it is my job to make them actually go through the checklist. And remember, if they thought that they could get private sector capital, they should. It is not the loan program's office's job to compete with the private sector.

Now, it's not my job to, like, impose that on them, but it is my job to make them actually go through the checklist. And remember, if they thought that they could get private sector capital, they should. It is not the loan program's office's job to compete with the private sector.