Lithium Americas Submits Draft Loan Application to U.S. Department of Energy
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Lithium Americas Corp. has submitted a draft application to the U.S. Department of Energy (DOE) for funding to be used at its 100 percent owned Thacker Pass lithium project in Humboldt County, Nevada, through the Advanced Technologies Vehicle Manufacturing Loan Program. The loan program is designed to provide funding to U.S. companies engaged in the manufacturing of advanced technology vehicles and components used in those vehicles.
“Thacker Pass is a unique, large-scale and advanced-stage lithium project representing one of the most significant opportunities to create a truly domestic lithium supply chain to support the production of electric vehicles in the U.S.,” said Jonathan Evans, president and CEO.
“We are pleased to submit our draft application and look forward to engaging with the DOE to accelerate the growth of the domestic lithium industry in response to increased demand and interest from U.S.-based consumers,” added Evans.
As Lithium Americas continues to advance its projects in both regions towards production, the company has started the process of exploring a separation of its U.S. and Argentina operations, through the creation of a standalone public company focused on the development of Thacker Pass. The company is assessing available alternatives and structures to effect such separation.
“We have world-class assets in both regions with tremendous potential. While no final decision has been made, we believe a separation could enable each of our businesses to maximize and accelerate their strategic objectives, with dedicated focus and increased financial flexibility,” said Evans.
“Thacker Pass is one of the largest-scale and most advanced development-stage lithium projects in the U.S. and received a record of decision (ROD) in January 2021. The project is aligned with the national agenda to enhance domestic supply of critical minerals and has the potential to be a leading near-term source of lithium for the U.S. battery supply chain,” added Evans.
About Lithium Americas
Lithium Americas is focused on advancing lithium projects in Argentina and the United States to production. In Argentina, Caucharí-Olaroz is advancing towards first production and Pastos Grandes represents regional growth. In the United States, Thacker Pass has received its record of decision and is advancing towards construction.
To stop by Lithium Americas’ website, CLICK HERE
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