Biden Approved Huge Load to Fraudulent Green Firm

Biden Approved Huge Load to Fraudulent Green Firm

  • November 21, 2023

Staff, Real Clear Energy

The Biden administration authorized a battery recycling company to receive a massive taxpayer-funded loan for a New York facility in February 2023, months after the company had allegedly started to defraud investors.

The Department of Energy’s (DOE) Loan Programs Office (LPO) and its director, Jigar Shah, pushed Li-Cycle, a company now in dire financial condition, to apply for a LPO loan to help build its Rochester, New York, facility as early as September 2022, according to The Wall Street Journal. The DOE announced its conditional commitment to loaning $375 million to the company in February 2023, just months after Shah’s meeting.

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