On Thursday, 9 February 2023, the U.S. Department of Energy’s (DOE) Loan Programs Office announced a conditional loan commitment of USD2 billion to Redwood Materials for the expansion of its battery materials campus (BMC) in McCarran, Nevada. This loan is a part of the DOE’s Advanced Technology Vehicles Manufacturing Loan Program (ATVM) and is a part of the Biden administration’s broader strategy of establishing a domestic battery supply chain in the US.
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