Biden-Harris Admin To Shell Out Roughly $670 Million To EV Battery Part Maker In Key Battleground State

The Biden ⚡Energy Department greenlit a conditional $670.6 million loan to aid in the construction of a manufacturing facility for a key component used in electric vehicle (EV) batteries, according to a press release.

The U.S. Department of ⚡Energy’s (DOE) Loan Programs Office (LPO) offered the loan to Aspen Aerogels, a company that makes insulating materials for EVs, according to the Wednesday press release. The loan, if it is finalized, will help fund the construction of a new aerogel blanket manufacturing facility in Register, Georgia.

The aerogel blankets are used as a protective barrier in EV batteries to prevent fires and improve battery safety, according to the release.

The loan from the DOE is part of an ongoing push from the Biden-Harris administration to increase domestic manufacturing jobs and EV production. The administration announced in September that it was granting more than $3 billion for EV battery projects.