The Export-Import Bank of the United States is getting serious about boron. Which is exactly why they are providing a new loan to a publicly traded company.
What’s happening:
- 5E Advanced Materials (NASDAQ: FEAM) has landed $8M USD in funding from the Export-Import Bank of the United States to advance their Fort Cady boron project located near Newberry Springs, California
Why it matters:
- This is the first time that the Export-Import Bank of the United States has ever provided funding to 5E Advanced Materials
Going deeper:
- 5E Advanced Materials’ Fort Cady project is widely considered to be the only advanced boron project under development in the United States and is expected to produce high-value brown as well as recovering lithium as a byproduct
- 5E Advanced Materials has publicly stated they are in ongoing discussions with the Export-Import Bank of the United States for up to $285M USD in debt financing
The intrigue:
- 5E Advanced Materials Fort Cady project is fully permitted and has begun shipping high-purity boric acid from their pilot facility to companies in Taiwan and the United States for product qualification and testing
