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The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) announced a conditional commitment to American Battery Solutions (ABS) for a $165.9 million loan to help finance the expansion of an advanced battery pack assembly facility to support light-, medium- and heavy-duty electric vehicle (EV) and industrial equipment applications at its Springboro, Ohio, and Lake Orion, Michigan, facilities. If finalized, the loan will help enable ABS’s production of approximately 4.2 GWh of lithium-ion battery packs annually at full capacity by 2026. At that level of battery production capacity, the project could support enough EVs to displace approximately 71,000 metric tonnes of CO2 emissions each year from gasoline-powered vehicles. Upon completion, the project would create or support 460 high-quality, good-paying operations jobs in Springboro, Ohio; Lake Orion, Michigan; and surrounding communities.