RE:RE:Back of the napkin
Lithium Americas submits formal application to DOE
2022-04-14 13:29 ET - News Release
Mr. Jonathan Evans reports
LITHIUM AMERICAS SUBMITS FORMAL APPLICATION FOR DEPARTMENT OF ENERGY ATVM LOAN PROGRAM
Lithium Americas Corp. has submitted a formal application to the U.S. Department of Energy (DOE) Loan Programs Office (LPO) for funding to be used at its 100-per-cent-owned Thacker Pass lithium project in Humboldt county, Nevada, through the advanced technology vehicles manufacturing loan program. The ATVM loan program is designed to provide loans for facilities located in the United States for the manufacturing of advanced technology vehicles and qualifying components used in those vehicles.
"Thacker Pass is a unique, large-scale and advanced-stage lithium project representing one of the most significant opportunities to create a domestic lithium supply chain to support the production of electric vehicles in the U.S.," said Jonathan Evans, president and chief executive officer. "We are pleased to submit our formal loan application and look forward to progressing through the ATVM loan program process to accelerate development of Thacker Pass. We are very excited to become a leading supplier of domestic critical materials to support the growth of the domestic battery and electric vehicle industry in response to increased demand and interest from U.S.-based consumers."
The submission is not an assurance that Lithium Americas will secure funding from the ATVM loan program and additional steps remain in the process.