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Biden finalizes major loan to EV-maker Rivian days before Trump’s inauguration

The Biden administration finalized a $6.6 billion loan to Rivian for constructing a manufacturing plant in Georgia, as announced by the Department of Energy.
The Loan Programs Office is providing $22.9 billion to utility companies for green energy projects, serving over 14.78 million customers across 12 states.
Rivian stated that the financing is crucial for expanding its new R2 SUV and R3 crossover, aiding U.S. Leadership in the electric vehicle industry.
Plug Power will receive a $1.66 billion loan guarantee for hydrogen plants, with its CEO emphasizing the alignment of the hydrogen economy with national security interests.

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The Daily Caller

Biden Admin Cuts Failing EV Company A Fat Check On Its Way Out The Door

The Biden administration cut a multi-billion dollar check for Rivian Thursday, just four days before President-elect Donald Trump's inauguration

1 month ago·Washington, United States

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OC Register

Rivian, U.S. finalize $6.6. billion loan before Trump retakes office

The Department of Energy announced Thursday the closing of $6.6 billion in financing for Rivian to construct a Georgia manufacturing plant.

1 month ago·Orange County, United States

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TechCrunch

Rivian finalizes $6.6B loan for its Georgia factory

Rivian and the Department of Energy have finalized a $6.6 billion loan announced in November with just a few days left until Donald Trump's inauguration.

1 month ago·United States

Volkswagen looking to deepen partnership with U.S. EV maker Rivian, Spiegel reports

1 month ago·United Kingdom

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MarketWatch

Rivian and Plug Power close government loan deals just before Trump takes office

Just in time, clean-energy companies Rivian Automotive Inc. and Plug Power Inc. have closed loan agreements with the Biden administration that will fund the construction of manufacturing plants in the United States.

1 month ago·United States

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The Georgia Star News

Biden’s Green Loan Office Offers Up a Staggering $22 Billion in Admin’s Final Hours

by Nick Pope The Biden administration’s green loan office is shelling out nearly $23 billion to utility companies for green energy development and other projects in its final days. The Department of Energy’s (DOE) Loan Programs Office (LPO) announced its conditional commitment to provide a combined $22.9 billion in financing to numerous utility companies across the country to “modernize” their grid systems by adding new green energy generation…

1 month ago

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