A&O Shearman represents U.S. Department of Energy in financing of USD2.26 billion lithium project to fuel electric vehicle revolution

The Thacker Pass project, the largest-proven lithium reserve in North America, is expected to produce an initial 40,000 tonnes per annum of battery-quality lithium carbonate and support the production of up to 800,000 electric vehicles annually. The DOE Loan will be supplemented by the investment agreement with General Motors Holdings LLC, announced on October 16, 2024, to establish a joint venture for the purpose of funding, developing, constructing and operating Thacker Pass.

“Our work on the landmark Thacker Pass project illustrates A&O Shearman’s leading position advising clients on the development, construction, and financing of significant energy transition projects,” said Paul Epstein, energy, natural resources & infrastructure (ENRI) partner. “The closing of this loan is very exciting for alternative energy initiatives.”

The A&O Shearman team that represented the DOE was co-led by energy, natural resources & infrastructure (ENRI) partners Paul Epstein and Robert O'Leary and included ENRI partner Cynthia Urda Kassis and ENRI associates Bilyana Belcheva, Kaja Niewiarowska, Aswini Endlur and Alex Becker.

The team also included M&A partners JB Betker and Keren Livneh, tax partner Derek Kershaw, ENRI partner Simon Clark, environmental & sanctions partner Jason Pratt, ENRI associate Kara Altman, M&A associate Eva Wang and tax associate Michael Buiteweg.