5E Advanced Materials, Inc. announced on September 30, 2024, that it received a Letter of Interest for up to $285 million in debt financing from the Export-Import Bank of the United States (EXIM). This potential funding is part of EXIM's Make More in America Initiative, which supports domestic production and job creation.
The initial program qualification for this funding is based on the projected U.S. exports of boric acid and the number of U.S. jobs expected to be created by 5E's project. This development is a crucial step in securing the necessary capital for the company's commercial-scale boron and lithium facility.
The Letter of Interest indicates a potential future funding consideration of $285 million towards 5E's project costs. This represents a significant de-risking event for the company's Fort Cady Complex, which is designated as Critical Infrastructure by the U.S. government.
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