Trump Advances $1.3 Billion Biden-Approved Battery Loan
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The Trump administration is moving forward with a loan of up to $1.3 billion to a lithium-ion battery parts manufacturer following a review of Biden-era spending programs.
The Energy Department said Sept. 17 it will provide an initial installment of $77 million to Entek Lithium Separators LLC to fund a new manufacturing facility west of Indianapolis. The plant will produce lithium-ion battery separators that can be used in electric vehicles and other industries.
The loan, finalized by the Biden administration in November 2024, was among $400 billion in green bank deals halted by the Trump administration as part of its review of Energy Department financing.
While the Biden administration, in announcing the funding,emphasized the project’s potential to further the former president’s electric-vehicle goals, Trump’s Energy Department highlighted the facility’s contribution to myriad other sectors.
“The ENTEK facility will be the only U.S.-owned and U.S.-based producer of ‘wet-process’ lithium-ion battery separator materials that can be used across industries such as data centers, energy storage, and consumer electronics,” the agency aid in a statement.
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