News-News.Zip

News in English (USA) / 17.01.2025 / 02:00

Major Funding Announcements for Rivian and Plug Power

The U.S. Department of Energy has finalized significant loan guarantees to support the production of clean energy and electric vehicles, with Rivian receiving a staggering $6.6 billion loan for its new manufacturing plant in Georgia. This deal is expected to create approximately 7,500 jobs in the area. Additionally, Plug Power has secured a $1.66 billion loan guarantee aimed at expanding its hydrogen production capabilities. These financial commitments come as the Biden administration ramps up support for green technology companies, with both Rivian and Plug Power seeing substantial boosts in their stock values following these announcements. The loans were finalized just days before the anticipated return of former President Trump to office, indicating a critical push to solidify the green energy infrastructure in the U.S.
Energy.gov, The Wall Street Journal, Yahoo Finance, Forbes, Bloomberg, The Hill, Benzinga, StockTitan, Electrek.co, TipRanks