Pure Lithium Corporation, a Boston-based lithium metal battery technology firm, announced it has received a Letter of Interest from the Export-Import Bank of the United States (EXIM) for a potential debt funding package of $300 million. The proposed funding aims to support the development of Pure Lithium’s first industrial-scale lithium metal vanadium battery manufacturing facility.
Under EXIM’s Make More in America initiative (MMIA), the bank will consider financing up to $300 million of the project’s costs with a repayment term of 12 years. The MMIA program is designed to bolster U.S. manufacturing, particularly in sectors critical to national security, by providing financial assistance to export-oriented domestic projects. The initiative seeks to enhance supply chain resilience, revitalize American manufacturing, and ensure that U.S. companies remain competitive in global markets.
Emilie Bodoin, Founder and CEO of Pure Lithium, stated, “This project will be very impactful for U.S. manufacturing in the crucial sector of energy storage. Our disruptive Brine to Battery™ technology will enable the creation of the first complete U.S.-based battery supply chain, from sourcing the materials to producing the finished product. Domestic battery production is imperative for U.S. energy and national security. Additionally, this will boost U.S. competitiveness globally – in line with the objectives of EXIM.”
The proposed transaction may qualify for special consideration under Section 402 of EXIM’s 2019 reauthorization. This section directs EXIM to mitigate the competitive impact of export support from countries like the People’s Republic of China and to advance U.S. leadership in transformational export areas. Through the China and Transformational Exports Program (CTEP), U.S. companies can access reduced fees, extended repayment terms, and other tailored policies, provided that projects maintain at least 51% U.S. content.
Upon receiving an application for financing, EXIM will perform the necessary due diligence to determine the feasibility of issuing a final commitment for the transaction. The final commitment will depend on meeting EXIM’s underwriting criteria, authorization processes, and the fulfillment of all terms and conditions.
About Pure Lithium
Pure Lithium is a Boston-based lithium metal battery technology company led by CEO Emilie Bodoin and Chief Scientific Officer Donald R. Sadoway, an MIT Emeritus Professor. The company’s Brine to Battery™ technology integrates metal extraction and anode production, bypassing traditional lithium compound processes. This results in a pure lithium metal anode, which enhances cell performance, reduces costs, and improves safety compared to conventional lithium-ion technology. The company’s batteries do not contain graphite, cobalt, nickel, or manganese.
Source: Business Wire
