$8 BILLION IN FUNDING FOR CLEAN VEHICLE INNOVATION
With Guest JIGAR SHAH, Director, Loan Programs Office, U.S. Department of Energy
Big ideas need proper funding. The U.S. Department of Energy’s Loan Programs Office (LPO) is helping companies with clean energy innovations get to the next stage of commercialization.
By providing access to debt capital and custom financing, the LPO finances first-of-a-kind projects and other high-impact energy-related ventures. Since 2009, the LPO has issued more than $35 billion of loans and loan guarantees for more 30 energy infrastructure projects in the United States.
Under the Advanced Technology Vehicles Manufacturing Loan Program (ATVM), the LPO provides loans to support the manufacture of eligible vehicles and qualifying components. To date, the program has loaned $8 billion for projects that have supported the production of more than 4 million advanced technology vehicles. Participants include Tesla, Ford, and Nissan, among others. The LPO is also helping onshore and reshore EV supply chains and manufacturing, as well as supporting energy storage.
To learn more about this program, we sat down with Jigar Shah, Director, Loan Programs Office, U.S. Department of Energy, to discuss how the LPO is transforming existing energy infrastructure, reviving nuclear construction, accelerating growth of utility-scale solar and wind, and of course, expanding domestic adoption of EVs.