U.S. finalizes $102.1 million loan to Syrah Resources for Louisiana plant

The U.S. Energy Department said Wednesday it had closed a $102.1 million loan to Syrah Technologies LLC for the expansion of a Louisiana facility that produces graphite-based active anode material -- a key component for lithium-ion batteries for electric vehicles.

This is first loan from the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program finalized since 2011, and the first ATVM loan exclusively for an automotive supply chain manufacturing project. Reuters first reported the planned loan in April.

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