Biden Revives ‘Clean Energy' Program With $1B Loan Guarantee
The aid to Lincoln-based Monolith Inc. is the program’s first non-nuclear loan guarantee since 2016.
“Advanced, clean production technology like Monolith’s are the types of impactful projects that support not just sustainability, but economic growth and clean energy jobs for the American people,” Granholm said. “We have a track record of choosing winners,'' he said in an interview. “And I know that we get a lot of press on the ones who don’t succeed,'' but the program has suffered just over $1 billion in losses since 2011, or roughly 3.3% of its investment, a figure Shah said is on par with commercial banks.
“Tell me how you’re going to make the mice into horses, and pumpkins into a carriage and the rags into a beautiful dress,'' he said, continuing the metaphor. “What processes and procedures have you learned to put in place? How are you going to protect my money?''
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