Lansing, Mich-– Thursday Governor Gretchen Whitmer joined leaders from President Joe Biden’s Department of Energy (DOE) to announce new conditional commitments for loans to expand manufacturing and create jobs in Michigan. The announcement included a $544M conditional commitment to Bay City’s SK Siltron to expand manufacturing of critical wafers that are important to electric vehicle electronics, along with $165 million to American Battery Solutions in Lake Orion to expand their assembly facility to create next-generation battery packs that cut carbon emissions and boost EV efficiency.
Michigan is racking up clean energy jobs as federal and state policy converge. As we saw with Wyoming’s Governor celebrating another DOE loan yesterday, governors get what Congressional Republicans don’t: if you bury your head in your sand, you’ll just get left behind.
"While Republicans in Washington continue to attack the Biden Administration's investments in clean energy, those very investments are paying off for consumers and workers across the country,” said Alex Glass, spokesperson for Climate Power. “Investing in the growing clean energy sector in Michigan is having a real impact, and rebuilding the manufacturing sector right here at home and providing opportunities for working families."
Reuters: US offers $710 million in loans for EV technology projects
The U.S. Energy Department said on Thursday it gave preliminary approval for nearly $710 million in loans to electric vehicle (EV) technology manufacturing ventures, although the Biden administration still has $221.8 billion in loan capacity to fund clean-energy projects.
Politico: DOE loan office tees up $710M for EV battery expansion projects
The Energy Department’s Loan Programs Office announced on Thursday plans to provide roughly $710 million for a pair of electric vehicle battery supply chain projects at existing facilities in Michigan and Ohio, part of the Biden administration's effort to build the U.S. industry to counter China's dominance.
WNEM: SK Siltron receives $544M conditional loan from U.S. DOE
SK Siltron CSS has received a conditional commitment from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) for a $544 million loan to expand manufacturing of high-quality silicon carbide (SiC) wafers for electric vehicle (EV) power electronics.
Bloomberg: US Offers $544 Million Loan to Semiconductor Maker SK Siltron
Semiconductor maker SK Siltron CSS LLC was awarded a $544 million conditional loan by the Biden administration Thursday to help expand a Michigan wafer production facility used in electric vehicles.
Here was the Governor's release on the details yesterday:
Gov. Whitmer Applauds Biden Administration Support for SK Siltron CSS, American Battery Solutions
LANSING, Mich. — Today, Governor Gretchen Whitmer released the following statement on the Department of Energy’s (DOE) announcement of conditional commitments for loans to expand American manufacturing of semiconductor chips at SK Siltron CSS in Bay City and advanced battery packs at American Battery Solutions (ABS) in Lake Orion, creating up to 660 jobs.
“Today’s announcement is a huge win for Michigan that will grow our economy, bring critical supply chains and advanced manufacturing home, and put our state in the lead on the technology of the future. If finalized, the Biden Administration’s conditional commitment for two loans for SK Siltron CSS and ABS is a game-changer that reflects President Biden’s determination to invest in American workers and American innovation.
“Today is about proving that we have the skilled workforce, growing economy, strong business-friendly environment, and competitive spirit to attract cutting-edge innovators and transformative projects. It’s about helping more individuals, families, businesses, and communities get the skills they need for good-paying jobs that you can raise a family on. It’s about building a Michigan where everyone can get a fair shot at a good life.
“I am grateful to President Biden and all our federal partners for getting this done. Let’s keep working together to grow Michigan’s economy, bring supply chains home, and create opportunity for Michiganders across our state.”
SK Siltron CSS Background
Today, the Department of Energy announced a conditional commitment for a $544 million loan that will help SK Siltron CSS expand manufacturing of critical wafers that are essential to electric vehicle electronics. SK Siltron CSS will also partner with Delta College to help more Michiganders get the skills they need to get good-paying jobs manufacturing the wafers. If finalized, the project is expected to create up to 200 construction jobs in the build-out phase and up to 200 skilled, good-paying operations jobs at full production.
In 2022, Governor Whitmer joined SK Siltron CSS, headquartered in Auburn, Mich for a ribbon cutting at their new facility to expand production of much-needed silicon carbide wafers, considered the future of the industry because of their ability to efficiently transfer energy. The company acquired and rehabilitated a facility in Monitor Township, near Bay City, to support its growth, creating up to 150 jobs for residents in the area. Michigan was chosen for the project over sites in Georgia, North and South Carolina, Tennessee, and Texas for its talent and proximity to automakers.
American Battery Solutions Background
The Department of Energy also announced a conditional commitment for a $165 million loan for American Battery Solutions to expand an assembly facility to supply next generation battery packs that cut carbon emissions and boost the efficiency of electric vehicles. If finalized, the project would create and support 460 high-skilled, good-paying jobs in the process.
In 2021, Governor Whitmer joined Michigan manufacturer American Battery Solutions Inc. for the ribbon cutting ceremony of their new lithium-ion battery manufacturing facility in Lake Orion, creating more than 100 good-paying jobs and building on Michigan’s leadership in the mobility and electrification space with the new facility.
While a conditional commitment indicates the Department’s intent to finance the project, the company must satisfy certain technical, legal, environmental, and financial conditions before the Department enters into definitive financing documents and funds the loan.
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