Department of Energy’s Manufacturing Capital Connector Initiative to Connect Applicants to Private Sector Capital
As part of the Biden-Harris Administration’s Investing in America agenda, and following positive feedback from Department of Energy (DOE)’s RFI in February of 2024, the DOE has launched the Manufacturing Capital Connector (MCC).
The MCC is a platform that connects companies applying to DOE-administered clean energy manufacturing programs to a range of capital providers seeking high-quality projects. Given the scale and criticality of manufacturing investments, and the focus on historical energy communities and disadvantaged communities, the aim of the MCC is to facilitate, expedite, and streamline the non-federal funding required by companies to finance their projects.
DOE is pleased to announce our initial cohort of participating financial institutions who have experience in funding similar opportunities and, through this initiative, an understanding of DOE’s energy supply chain priorities and due diligence process in selecting projects. The participating cohort, listed alphabetically, includes Appian Capital Advisory, Ara Partners, BBVA, Blackstone Credit & Insurance, Carlyle, CarVal, GoldenTree Asset Management, HASI, I Squared Capital, Keyframe Capital, Macquarie Group, and Spring Lane Capital.
The MCC may particularly benefit manufacturing companies applying for programs such as the Qualifying Advanced Energy Project Credit (48C) program, which covers critical materials processing and recycling, clean energy manufacturing and recycling, and industrial decarbonization, and to private sector investors interested in these sectors. Capital providers listed above have provided an overview of their firm and their "best practices". Best practices are meant to help applicants differentiate between the various financial institutions by providing details on capital providers’ experience and qualifications, including aspects such as capital types (debt, equity), response time, topic areas of interest, and minimum/maximum ticket size.
Applicants may choose to directly share their application information with those capital providers that offer the best practices most consistent with the applicant’s needs. Applicants may reflect the use of the MCC in their full application, through the application narrative and/or with letters of support/intent as attachments. Participation in the MCC is voluntary and applicants of programs do not receive special consideration during the application process by participating. Selectees who have already been awarded DOE funding are also welcome to utilize the platform to secure the non-Federal cost share.
If you are a recipient or applying to DOE-administered clean energy manufacturing programs such as the 48C program and interested in utilizing MCC platform to find capital for your project, please email capitalconnector@hq.doe.gov.
Learn more about the MESC mission to strengthen and secure energy supply chains as the frontline of clean energy capital deployment.
|
