5E's project qualifies under the Export-Import Bank of the United States' Make More in America Initiative
Letter of Interest will consider potential future funding of $285 million of 5E's project costs
Initial program qualification is based on U.S. exports of boric acid and the number of U.S. jobs created
HESPERIA, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- 5E Advanced Materials, Inc. (NASDAQ:FEAM) (ASX: 5EA) ("5E" or the "Company"), a boron and lithium company in southern California, announced that it received a non-binding Letter of Interest ("LOI") from the Export-Import Bank of the United States ("EXIM"). The LOI outlines the potential for the creation of a debt facility to backstop project debt financing of up to $285 million, which would be utilized for commercial scale development and construction of 5E's Boron Americas Complex. The potential debt funding package would carry a repayment tenor of up to 15 years under EXIM's Make More in America Initiative. 5E's Boron Americas Complex is designated as Critical Infrastructure by the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency.