DOE finalizes $9.8B in financing for Rivian, Plug Power, Sunwealth and Ioneer

https://www.canarymedia.com/articles/climatetech-finance/doe-finalizes-8-8b-in-financing-for-rivian-plug-power-sunwealth

by Splenda

3 comments

  1. >The LPO [announced](https://www.energy.gov/lpo/articles/doe-announces-166-billion-loan-guarantee-plug-power-produce-and-liquify-clean-hydrogen) it closed a loan guarantee of up to $1.66 billion for [Plug Power](https://www.plugpower.com/), a manufacturer of fuel cells and hydrogen electrolyzers. 

    >Plug Power, which has never turned a profit in its 20-year history, has seen losses mount and its share price fall as its core market of supplying fuel cells for forklifts has weakened and the broader clean hydrogen sector has struggled to get off the ground.

    One of the few mistakes Biden made in his massive clean energy program was appointing a hydrogen fan to lead the DOE’s Loan Program Office. His very first award was for a massive hydrogen grid storage project that most experts felt was a boondoggle. Now this. What a waste.

  2. If Rivian can up capacity before they go bankrupt, they could become a powerhouse. My next EV will be the R2 if they can make it that far.

  3. Assuming drumpf and his shithead followers don’t destroy this country, we will be ahead of the world by getting scaled hydrogen figured out

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