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Ford, Ford Credit introduce sustainable financing framework prioritizing EV, clean production, community investments

Green Car Congress

Ford Motor Company and its financing subsidiary, Ford Motor Credit Company, introduced the North America auto industry’s first sustainable financing framework, focusing on and paying for ambitious plans in vehicle electrification and other environmental and social areas. Vigeo Eiris, an arm of Moody’s Corp.,

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US DFC approves $150M conditional loan commitment for Balama graphite mine in Mozambique

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The US Development Finance Corporation’s (DFC’s) Board of Directors approved the provision of up to $150 million in financing to Twigg Exploration and Mining—a wholly-owned subsidiary of Australia-based Syrah Resources Limited—to fund investments in the company’s graphite mining and processing operation in Balama, Mozambique.

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Eos Energy launches $500M Project AMAZE with $398.6M conditional loan guarantee from DOE; long-term zinc-based storage

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Eos Energy, a provider of safe, scalable, efficient, and sustainable zinc-powered long-duration stationary energy storage systems, announced Project AMAZE (American Made Zinc Energy), a $500-million planned expansion and a significant milestone to build 8 GWh of clean energy storage production capacity.

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Li-Cycle receives conditional commitment for $375M loan from DOE ATVM program

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The conditional commitment follows DOE technical, market, financial and legal due diligence and marks another significant milestone endorsing Li-Cycle’s development of the first commercial hydrometallurgical resource recovery facility in North America, located near Rochester, New York. Li-Cycle Holdings Corp.

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California ARB approves ACC II rule; 100% of LDVs to be PHEVS, ZEV by 2035; LEV IV emissions requirements

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The California Air Resources Board approved the Advanced Clean Cars II (ACC II) rule. It does not impact existing vehicles on the road today, which will still be legal to own and drive. The Clean Vehicle Rebate Project (CVRP) provides up to $7,000 for income-qualified drivers to buy or lease a ZEV.

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SEC charges Volkswagen AG, former CEO Winterkorn with defrauding bond investors during emissions fraud

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The US Securities and Exchange Commission charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding US investors, raising billions of dollars through the corporate bond and fixed income markets while making a series of deceptive claims about the environmental impact of the company’s “clean diesel” fleet.

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California ARB fines Ford $2.96 million for sales of non-compliant On-Board Diagnostic systems in California

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million, $740,000 will go to the California Pollution Control Financing Authority (CPCFA), which provides financial assistance to projects aimed at reducing pollution and waste and encouraging the use of renewable energy. Officials estimate the money will support loans for about 90 clean-diesel vehicles.