Pure Lithium has announced the receipt of a letter of interest (LOI) from the Export-Import Bank of the United States (EXIM) for a $300m debt funding package for the company’s first industrial-scale lithium metal vanadium battery manufacturing facility.
The funding package with a 12-year repayment term will be provided under EXIM's Make More in America initiative, which supports US manufacturing and exports.
EXIM will undertake thorough due diligence upon receiving a financing application from Pure Lithium to determine the viability of a final commitment.
Any final agreement will be contingent upon meeting EXIM's underwriting standards, approval processes, and the fulfilment of all terms and conditions.
Pure Lithium founder and CEO Emilie Bodoin said: “This project will be very impactful for US manufacturing in the crucial sector of energy storage. Our disruptive Brine to Battery technology will enable the creation of the first complete US-based battery supply chain, from sourcing the materials to producing the finished product.
“Domestic battery production is imperative for US energy and national security. Additionally, this will boost US competitiveness globally – in line with the objectives of EXIM.”
The potential transaction may receive special consideration under Section 402 of EXIM's 2019 reauthorisation.
This directive encourages EXIM to counteract competitive pressures from the People's Republic of China and other countries, and to promote US leadership in key transformative export areas.
The China and Transformational Exports Program (CTEP) is a strategic EXIM programme designed to support US exporters in competing with Chinese companies and to assert US leadership in emerging technologies.
The CTEP offers benefits such as reduced fees, longer repayment terms and customised policies for projects with a majority of US content.
In March 2025, Pure Lithium secured funding from the US Department of Energy’s Vehicle Technology Office to create a closed-loop domestic supply chain for lithium metal anodes.
