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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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SK On secures US$2B for battery business in Europe

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SK On has secured a total of US$2 billion as its investment resource for its European battery business with the aid of Euler Hermes, a trade credit insurance institution of Germany, Korea Trade Insurance Corporation, and the Export-Import Bank of Korea. The three agencies that took part in the financing are all export credit agencies (ECAs).

Europe 210
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NRG invests additional $35M in FuelCell Energy for 6% of company; establishes $40M financing facility

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FuelCell Energy intends to use the net proceeds from the offering for project development, project finance, working capital support and general corporate purposes. The company’s project finance subsidiaries may draw on the facility to finance the construction of projects through the commercial operating date (COD) of the power plants.

Financing 244
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DOE awarding $1.6B to 11 battery materials separation and processing projects as part of $2.8B funding

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billion will go to 11 projects in the materials separation and processing segment of the supply chain. Anovion , Scaling the Domestic, US Owned and Operated Anode Supply Chain for Synthetic Graphite, $117,000,000. Albemarle is finalizing the site selection for the lithium hydroxide conversion plant in the southeastern United States.

Parts 459
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DOE offers Ioneer conditional commitment for a loan of up to US$700M for Rhyolite Ridge project

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The US Department of Energy’s (DOE) Loan Programs Office (LPO) has offered a conditional commitment to lend up to $700 million to Ioneer Rhyolite Ridge LLC to develop a domestic supply of lithium carbonate for electric vehicle (EV) batteries from the Rhyolite Ridge Lithium-Boron Project (Rhyolite Ridge) in Esmeralda County, Nevada.

Nevada 199
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POSCO accelerates production of lithium in Argentina with early stage 2 investment

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POSCO Holdings has moved up the scheduled investment in the second stage of a lithium production operation in Argentina from next year to now, due to increased demand for lithium amid booming investment in the secondary battery sector resulting from the “Inflation Reduction Act ” in the United States. billion (about KRW 1.5

Argentina 150
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Visteon Files for Chapter 11 Reorganization in United States

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Global automotive supplier Visteon Corporation and certain of its US subsidiaries voluntarily filed petitions for relief under Chapter 11 of the US Bankruptcy Code. Ford Motor Company has executed a commitment letter to support debtor-in-possession financing for Visteon’s restructuring efforts and to ensure long-term continuity of supply.