Wayne Killen, Senior Advisor at the Department of Energy’s Loan Programs Office gave this presentation at the Forth U.S. Department of Energy Loan Program Office Overview webinar on September 28, 2021.

1. DOE Loan Programs Office
Overview and Status
Forth Mobility Briefing September 28, 2021
Wayne Killen

2. “There are many areas that are
mature from a technology
standpoint, but not from an
access to capital
standpoint…that’s a nexus
where there’s a clear mandate
for the office to participate”
Cleantechnica, March 8, 2021
Jigar Shah, Department of Energy
LPO Director

3. We are a Policy Driven Bank -- Financing
American Energy Infrastructure/Clean Tech
The Department of Energy’s
Loan Programs Office (LPO)
was established for borrowers seeking
access to $40B in low interest rate debt
financing for high impact or first-time
energy infrastructure projects.
Access to Debt Capital
that private lenders cannot
or will not provide
Flexible Financing
customized for the specific
borrower needs
A Committed Partner
LPO expertise to borrowers
through project loan lifetime
August 2021

4. 4
Batteries
• Cell Manufacturing
• Module Manufacturing
• Pack Assembly
• Critical Materials/minerals
Fueling Infrastructure
• EV Charging equipment
• Related components (DC transformers, revenue-
grade metering, etc.)
• VGI/bi-directionality enabling components
Electronics
• Microprocessors
• Power Electronics
• Battery Systems
Advanced Materials
• Advanced High
Strength Steels
• Aluminum, Magnesium,
Other Alloys
• Plastics, Composites...
Advanced Powertrain Technologies
• Hybrid / EV Powertrain Integration
• Electric Motor Manufacturing
• Energy Recovery Braking and Suspension
Components & Materials (not exhaustive)
Light Duty Vehicles Manufacturing
Key Criteria
• Less than 10,000 lbs GVW (LDT)
• Fully enclosed body, 2 + passengers
• Efficient light duty: 25%+ more
efficient than comparable 2005MY
baseline equivalent + Tier 2 bin 5
• Ultra-Efficient: 75+ mpg equivalent
Advanced Technology Vehicles
Manufacturing (up to $17.7B avail.)
The ATVM Direct Loan Program offerslow-cost manufacturing debt to the entire
automotive value chain to improve U.S. fleet fuel efficiency; loans can include land, facility
construction/refurbishment,equipmentand engineering
August 2021

5. Title XVII: Renewable Energy & Efficient Energy*
LPO helps bring nascent/first-to-market renewable & efficient energy projects to
commercial scale through its Title XVII Innovative Energy Loan Program
Up to $4.5 Billion in Loans and Guarantees Available
for deployment projects
Financing
LPO provides access
to debt capital for
energy projects using
innovative technology
when commercial
lenders cannot or will
not provide financing.
Technologies
Technology areas of interest include,
but are not limited to:
• Advanced Grid Integration & Storage
• Alternative Fuel Vehicle Infrastructure
• Distributed Energy Projects, VPP
• Enhancement of Existing Facilities
• Offshore Wind & Related Infrastructure
• Waste-To-Energy
Eligibility
LPO can consider renewable &
efficient energy projects that:
• Use innovative technology (not
deployed more than 3 times in 5
years in U.S.)
• Reduce, avoid, or sequester
greenhouse gas emissions
• Are U.S. located & provide
reasonable prospect of repayment
* TXVII also includes Advanced Fossil
Fuels and Advanced Nuclear budgets
August 2021

6. Priority Technologies (not exhaustive)
ATVM
Title XVII
Renewable Energy & Efficient Energy
Vehicle Manufacturing Biofuel (plants, plant waste) Maritime/Aviation Electrification
Battery Supply Chain Efficient Energy Offshore/Onshore Wind
EV Infrastructure Manufacturing EV/H2 Infrastructure Deployment Solar, Innovative
Components Geothermal, Enhanced
Storage, Non-Battery (hydrogen,
compressed air, pumped storage,
flywheel)
Lightweighting Materials Hydrogen, Green
Transmission/Smart
Transmission
Critical Minerals
Hydropower (non-powered dams,
pumped storage)
VPP (Virtual Power Plant)
Hydrokinetic Waste Conversion
August 2021

7. $12 Billion
First AP1000 reactor in the U.S. (Vogtle)
Advanced Nuclear Energy
$2 Billion
CO2 capture and sequestration conditional
commitment. (Lake Charles Methanol)
Advanced Fossil Energy
$1.7 Billion
Four onshore farms, including one of the
w orld’s largest. (Shepherds Flat)
Wind Energy
$343 Million
Advanced transmission lines for improved
grid reliability. (One Nevada Line)
Transmission
$7.8 Billion
Accelerated domestic electric vehicles
manufacturing. (Nissan, Ford, Tesla)
Advanced Vehicles Manufacturing
$5.8 Billion
Five CSP plants utilizing
diverse technologies.
Concentrating Solar Power
$546 Million
State-of-the-art thermal extraction,
revitalizing the sector.
Geothermal Energy
$4.7 Billion
First five utility-scale PV solar projects
larger than 100 MW in the U.S.
Photovoltaic Solar
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A diverse portfolio of innovative technologies have
resulted from $35B in loans to 30 projects, as well
as 37k jobs created and 60M tons of avoided GHG
August 2021

8. More Variable Timing
Length of these stages varies
greatly, depending on project
complexity and readiness.
Less Variable Timing
Timing for these stagesis
largely fixed,with targeted
timelines.
Due Diligence
& Term Sheet
Negotiation
Title 17 & ATVM: Enter
confirmatory due diligence
and negotiate term sheet.
TELGP: Borrow er,
Lender, and DOE engage
in confirmatory due
diligence and term sheet
negotiation.
Any third-party advisor
costs are paid for by the
applicant. For Title 17,
costs are due at closing.
Pre-Application
Consultations
Meet w ith LPO for no-fee,
pre-application consultations,
including discussions on the
application process and the
proposed project.
Formal Application
Submission
Title 17: Submit Part I application to determine
technical eligibility (innovation and greenhouse
gas emissions calculation). There is no review
of business plan or financial structure in Part I.
If invited, submit more thorough Part II
application to deter-mine project viability and
ability to move into due diligence. Application
fees are paid at loan closing.
ATVM: Submit single application to determine
basic eligibility and project viability. No
application fees.
TELGP: Tribal borrow er engages w ith a
commercial lender. Lender applies for a loan
guarantee on behalf of Borrow er and project.
Requires application fees.
Loan Closing
& Project
Monitoring
Negotiate and execute
loan documents using the
approved term sheet.
Loan closing and funding
are subject to conditions
precedent in the executed
loan documents.
Applicant pays applicable
costs and fees.
After loan closing, LPO
monitors the loan.
Credit
Approval
Process
Formal approval
process of the
term sheet,
including
interagency
consultations.
2 4
1 3 5
LPO Moves Ideas to Applications to Projects
LPO engages early with applicants and remains a partner throughout the lifetime of the loan.
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9. LPO can provide affordable, custom financing to meet the specific needs of individual borrowers.
✓ Various Loan Types | Depending on the program, LPO can offer direct
loans from U.S. Treasury’s Federal Finance Bank (FFB), 100% guarantee of
FFB loans, and partial guarantees of commercial loans. Loan terms are specific
to the proposed project and are subject to negotiation.
✓ Affordable Debt & Long Tenor | Senior secured debt priced
competitively with commercial rates.
✓ Flexible Deal Structures | Structures may include project finance,
structured corporate, corporate or warehousing lines.
✓ DOE Role | Can serve as sole lender or as a co-lender.
✓ Debt Amount Determination | Based on credit profile, business
plan, market risk, technology, cash flows, project risk allocation and other
relevant factors.
✓ Viability Standard | Emphasis placed on certainty of cash flow to the
project during initial financial viability review and during subsequent due
diligence.
We Offer Flexible Financing Solutions
$43
Million
$532
Million
$940
Million
$5.9
Billion
Smallest
Loan
Median
Loan
Average
Loan
Largest
Loan
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10. 10
How You Can Help
• Keep us in mind for your transportation
electrification plans and coalition building
• Help us identify new applicants