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Syrah Resources receives US$102m loan from US Department of Energy for vehicles manufacturing
Global firm White & Case LLP has advised Australian industrial minerals and technology company Syrah Resource, on its US$102 million loan for advanced technology vehicles manufacturing with the United States Department of Energy.
Jess Feyder
Firm: White & Case (Syrah Resources)
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Deal: Syrah Resources received a US$102 million loan from the US Department of Energy for advanced technology vehicles manufacturing.
Value: US$102 million
Area: Corporate
Key players: The White & Case team was led by partners Oliver Wright in New York and John Tivey in Melbourne. The team was supported by Candice Ota from Melbourne, Ryan Hopkins from Houston, Suzanne Perry from Washington DC, and Ketan Pastakia, Xuefeng Wu, Tom Robinson and Adam Conwell from New York.
Deal significance: This is the first Advanced Technology Vehicles Manufacturing loan with the US Department of Energy in more than a decade.
The loan proceeds will fund the initial expansion of Syrah Resources’ Vidalia active anode material facility in Louisiana, which is the only vertically integrated, large-scale active anode material supplier outside of China and the first of its kind in the US.
The expansion project will provide a domestic, environmentally responsible and cost-competitive supply chain for this critical mineral to accelerate the deployment of batteries to power electric vehicles in the US.
Syrah Resources also manages the Balama Graphite Operation in Mozambique — a globally significant natural graphite operation.
White & Case is involved in advising sponsors, investors and financiers engaged in all aspects of the electric vehicle supply chain.
