California-based EnergySource Minerals (ESM), through its subsidiary SPV ESM ATLiS LLC (ATLiS), has received a conditional commitment from the U.S. Department of Energy’s Loan Programs Office (LPO) for a direct loan of up to $1.36 billion. The funds will support the construction, equipping, and operation of the ATLiS facility in Imperial County, California, which will produce lithium hydroxide from geothermal brine.
ATLiS submitted its loan application to LPO in May 2023. Today’s announcement highlights the Department of Energy’s dedication to boosting the nation’s manufacturing competitiveness and ensuring that the country’s energy future is built by Americans, for Americans.
The company had earlier signed a binding contract with Ford Motor Company to supply sustainably produced lithium hydroxide.
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