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investment key to lowering capital costs, panellists tell Benchmark Week 2024","public-investment-key-to-lowering-capital-costs-panellists-tell-benchmark-week-2024","article/public-investment-key-to-lowering-capital-costs-panellists-tell-benchmark-week-2024",{"_uid":557,"date":558,"tags":559,"editor":566,"content":576,"excerpt":643,"featured":51,"reporter":644,"_editable":648,"component":649,"seo_title":553,"categories":650,"visibility":657,"author_company":49,"featured_image":658,"seo_description":643,"author_full_name":49,"author_job_title":49,"formattedDate":663,"formattedArticleDate":664},"9af5c7c1-ffcf-4eff-95f1-dfe42f6c4523","2024-11-18 00:00",[560,563],{"slug":561,"name":562},"benchmark-week-2024","Benchmark Week 2024",{"slug":564,"name":565},"policy","Policy",[567],{"slug":568,"name":569,"content":570},"matthew-bird","Matthew Bird",{"job_title":571,"image":572,"bio":574,"linkedin":575},"Senior Editor - Supply Chains & Data Visualisation",{"filename":573},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":577,"content":578},"doc",[579,586,591,596,601,608,613,618,623,628,633,638],{"type":580,"attrs":581,"content":582},"paragraph",{"textAlign":49},[583],{"text":584,"type":585},"Lowering the cost of capital through government support is crucial to establishing a competitive and sustainable battery supply chain in the US, panellists remarked at the third day of Benchmark week 2024 in Los Angeles.","text",{"type":580,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":585},"Following the passage of the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BLI), government agencies have supplied billions of dollars in grants, loans, and tax credits to support the domestic critical mineral and battery supply chain projects, significantly lowering barriers for project financing in the US.",{"type":580,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":585},"“One of the big drivers to truly being able to compete with countries such as China on a head to head basis is cost of capital,” said Ashley Zumwalt-Forbes, Deputy Director, Batteries and Critical Minerals, Office of Manufacturing and Energy Supply Chains, US Department of Energy (DoE).",{"type":580,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":585},"“These levers are the way in which we can decrease that cost of capital and ultimately compete on an even playing field,” she added.",{"type":602,"attrs":603,"content":605},"heading",{"level":604,"textAlign":49},4,[606],{"text":607,"type":585},"Commercial viability key",{"type":580,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":585},"Panellists agreed that a driving force behind investment decisions was the commercial viability of a project. Projects must demonstrate a clear path to commercialisation, as well as technical viability and an execution plan.",{"type":580,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":585},"“We want to understand basic unit economics,” said David Riposo, Director, Business Development, Energy & Infrastructure, International Development Finance Corporation. “But we don’t hold projects to the same standard as investment banks.”",{"type":580,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":585},"These sentiments were echoed by Chelsea Sexton of the DoE’s Loan Programs Office (LPO), who emphasised the programme’s role in providing low-cost capital to support high-potential, but high-risk projects, where commercial loans may not be readily available.",{"type":580,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":585},"Highlighting the example of the geothermal extraction of lithium from the Salton Sea in California, Sexton noted that pairing public and private interest could help to increase the competitiveness of US projects to those in China. “We can provide a low cost of capital that ultimately helps bring private equity in.”",{"type":580,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":585},"Graphite One CEO Anthony Huston, stressed that government financing had been essential for the domestic supply chain’s survival.",{"type":580,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":585},"“For us, it’s been life or death,” he said. “Now we have an opportunity to do something that has never been done before, which is to create a supply chain that should have been built 25 years ago.” ",{"type":580,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":585},"“We are on the right path and I think the next administration will continue because of the great work that has been done already,” he added.","Lowering the cost of capital through government support is crucial to establishing a competitive and sustainable battery supply chain in the US, panellists remarked at the third day of Benchmark week 2024 in Los Angeles. Following the passage of the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BLI), government agencies have supplied billions of […]",[645],{"slug":568,"name":569,"content":646},{"job_title":571,"image":647,"bio":574,"linkedin":575},{"filename":573},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"9af5c7c1-ffcf-4eff-95f1-dfe42f6c4523\", \"id\": \"\"}-->","article",[651,654],{"slug":652,"name":653},"critical-minerals","Critical Minerals",{"slug":655,"name":656},"geopolitics","Geopolitics","private",{"id":49,"alt":659,"name":659,"focus":659,"title":659,"source":659,"filename":660,"copyright":659,"fieldtype":661,"meta_data":662,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/4d5ca02a9a/bm-bmw-24-public-financing.jpg","asset",{"alt":659,"title":659,"source":659,"copyright":659},"Nov 18, 2024","18th November 2024",[],[],1789982571100]