Orrick Advises GM/LG Energy Solutions JV in First-of-Its-Kind DOE Loan for Battery Cell Manufacturing

• Orrick represented Ultium Cells LLC in connection with a $2.5 billion U.S. Department of Energy (DOE) loan, supporting three separate battery cell manufacturing facilities in Ohio, Tennessee and Michigan.
• It was the first loan exclusively for a battery cell manufacturing project through the DOE Loan Programs Office’s Advanced Technology Vehicles Manufacturing (ATVM) program.
• Ultium is a joint venture between General Motors Holdings LLC and LG Energy Solution Michigan, Inc., and is in the process of developing and constructing its three manufacturing facilities to be funded through the ATVM Loan.
• The DOE announced the loan here.

The Orrick team, which included more than 35 attorneys overall, was led by an Energy & Infrastructure team consisting of the late Jeff Kayes, Adam Griffin, Carmen Wehmeier, Nathan Bishop and Diana Tarrazo, with significant assistance from Darrell Thomas and Olivia Youn (Real Estate), Daniel Forester and Daniel Kearney (Intellectual Property), and Harry Clark and Derek Bhavsar (Governmental Contracts).