The DOE’s Loan Programs Office (LPO) closed a $102.1-million loan to Syrah Technologies to increase the production capacity of an active anode material processing facility. The Syrah Vidalia facility in Louisiana produces graphite-based active anode material. According to the DOE, the facility is “the only vertically integrated, large-scale AAM manufacturer outside of China and the first of its kind in the United States.”

“With this expanded production capacity, the Syrah Vidalia Facility is expected to produce enough natural graphite-based AAM to support approximately 2.5 million EVs by 2040, thus saving an estimated 970 million gallons of gasoline,” says the DOE.

The loan is from LPO’s Advanced Technology Vehicles Manufacturing (ATVM) loan program. The DOE says it is the first loan from the program since 2011.

Source: DOE