Flash
Diamond Member
- Dec 8, 2014
- 71,172
- 62,058
Looks like Biden didn't learn anything during the Obama Administration on how wasteful it is to pour taxpayer's money into worthless Environmental Wacko projects. We can kiss those billions goodbye. Somebody is going to make a lot of money and the taxpayers are going to foot the bill.
More money laundering for the Democrats.
Energy Secretary Jennifer Granholm said that, if finalized, the loan will help the project create critical materials for electric vehicle batteries.
"It's going to be a slam dunk for our domestic burgeoning electric vehicle industry," Granholm said, adding that Redwood will play an "outsized role in bringing the battery supply chain home -- because you are focused on the pieces that we don't have in the United States."
Redwood Materials expects to draw down the first loan tranche later this year, Chief Executive JB Straubel said in an interview.
The initial loan draw "will help accelerate (production) and compress the time for us to get to full scale" at the northern Nevada complex, which has started to produce copper foil for battery anodes, Straubel said.
More money laundering for the Democrats.
U.S. Set to Loan Redwood Materials $2 Billion for EV Materials Plant
The U.S. Energy Department on Thursday made a conditional commitment to Redwood Materials for a $2 billion low-cost government loan to help build out a $3.5 billion recycling and remanufacturing complex in Nevada for battery materials.Energy Secretary Jennifer Granholm said that, if finalized, the loan will help the project create critical materials for electric vehicle batteries.
"It's going to be a slam dunk for our domestic burgeoning electric vehicle industry," Granholm said, adding that Redwood will play an "outsized role in bringing the battery supply chain home -- because you are focused on the pieces that we don't have in the United States."
Redwood Materials expects to draw down the first loan tranche later this year, Chief Executive JB Straubel said in an interview.
The initial loan draw "will help accelerate (production) and compress the time for us to get to full scale" at the northern Nevada complex, which has started to produce copper foil for battery anodes, Straubel said.