Lyten Secures $650M LOI from the Export-Import Bank of the United States
Summary
The default rate across the portfolio is 0.98%, reflecting the high standards of credit required to obtain EXIM financing.Lyten recently announced the location of the worlds first lithium-sulfur battery gigafactory in Reno, Nevada. Lytens cathode, anode, and cells are fully manufactured in the U.S. from abundantly available local materials, eliminating the need for mined minerals like nickel, cobalt, manganese, and graphite. Lithium-Sulfurs performance actually improves in hot conditions, making it a perfect solution for energy storage in the global south, stated Celina Mikolajczak, Lytens Chief Battery Technology Officer.Investors in Lyten include Stellantis, FedEx, Honeywell, Prime Movers Lab, the Walbridge Group, Luxembourg Future Fund, and the European Investment Fund. Furthermore, EXIMs charter requires that it supplement and encourage, not displace, private capital.Lyten, founded in 2015, is a supermaterial applications company that has received more than $425 million in investment. Lytens proprietary processes permanently sequester carbon from methane in the form of 3D Graphene, and they utilize the tunable supermaterial to develop decarbonizing applications.