In May 2023, LPO announced a conditional commitment to CelLink Corporation for a $365 million Advanced Technology Vehicles Manufacturing (ATVM) loan and last month, LPO Director Jigar Shah visited their new facility in Georgetown, Texas, to take stock of their approach to building clean energy jobs—a priority of the Biden-Harris Administration’s Investing in America agenda. In his latest blog piece, Director Shah gives his impressions from his visit to the Lone Star State, including his top three takeaways:
1) Early workforce engagement lowers risk in a project.
2) It’s starting to make sense to build big in America again.
3) Reshoring successfully will take all of us.
Once fully operational, the Texas facility is expected to produce flex harnesses to support approximately 2.7 million electric vehicles (EVs) per year and displace an estimated 7.7 million gallons of gasoline annually due to weight and space savings of the flex harnesses. When fully operational, the project is expected to create 165 construction jobs and more than 1,200 permanent jobs.
Read the full blog piece here: https://lnkd.in/g4Smv4CD and read the full CelLink conditional commitment announcement for more details about the project: https://lnkd.in/g3XPbAYE
As with all conditional commitments that LPO offers, it's important to note that the expected U.S. Department of Energy (DOE) loan will only be issued pending the satisfaction of certain conditions, including final legal, contractual, technical, and financial requirements that the conditional commitment specifies.
LEARN MORE:
• What is a Conditional Commitment? https://lnkd.in/gkEDPkHs
• Advanced transportation project financing available through LPO's Advanced Technology Vehicles Manufacturing (ATVM) Loan Program: https://lnkd.in/gHzbCi7z
• Information about President Biden's "Investing in America" agenda: https://lnkd.in/gCFiWyzx
• Read about other project announcements on LPO's Blog: https://lnkd.in/gRxuSv93
Wed, Nov 1