Jervois Global Limited announced that it has applied to the United States (U.S.) Department of Energy (DOE) Loan Program Office for funding for its proposed greenfield cobalt refinery in the U.S.
Additional details on the proposed cobalt refinery in the U.S. and the following phases in its development were detailed in the Company’s ASX statement on 18 April 2023.
The request was made through the DOE Advanced Technology Vehicle Manufacturing Loan Program (ATVM Loan Program). The ATVM Loan Program provides loans to build U.S. manufacturing facilities for advanced technology vehicles and qualified components utilised in such cars. Jervois has applied for funding to build a cobalt refinery in the U.S. to produce cobalt sulphate for the country’s small but quickly growing electric vehicle industry.
Jervois’ application was submitted after consulting with the DOE Loan Program Office, and the process still requires more stages to be completed; however, there is no guarantee that the Company will get funds from the ATVM Loan Program. Jervois does not intend to update the market on this ATVM Loan Program application until definitive actions are agreed upon with the DOE Loan Program Office to proceed towards or fund the proposed U.S. refinery.
