Pure Lithium on April 22 said it received a letter of interest from the Export-Import Bank of the U.S. (EXIM) for a debt funding package of $300 million to advance the company’s first industrial-scale lithium metal vanadium battery manufacturing facility.

As part of EXIM’s Make More in America initiative, the financing consideration for project costs would include a repayment term of 12 years, according to a news release. The potential transaction also may be eligible for special consideration under Section 402 of EXIM’s 2019 reauthorization, which is intended to help U.S. exporters compete with Chinese and other companies.

“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,” said Pure Lithium Founder and CEO Emilie Bodoin. “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.”

After receiving a financing application, EXIM will conduct all requisite due diligence necessary to determine whether it will commit to the transaction. Any final commitment will depend on meeting EXIM’s underwriting criteria, authorization process and finalization and satisfaction of terms and conditions, the release said.

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