Energy Transition Finance Celebrates Gradient’s $17.5 Million DOE Award

(WASHINGTON, D.C.) – December 7, 2023 – Energy Transition Finance LLC (ETF) proudly announces its advisory role in helping Gradient secure a $17.5 million grant under the Defense Production Act (DPA). This grant, awarded by the U.S. Department of Energy (DOE), marks a pivotal investment in domestic manufacturing of home heating and cooling technology, supporting low- and moderate-income communities, and reducing global greenhouse gas emissions.  ETF continues to support Gradient as they move from award notice to funding closure and launch of the project.

This landmark grant award will be a critical enabler of Gradient’s plan to revolutionize heating and cooling solutions, and underscores ETF’s expertise in guiding companies through the complex landscape of DOE loans, grants and tax credits. Jeff Rosen, COO of Gradient, praised ETF’s involvement, noting, “This $17.5M grant award is pivotal for our plans to manufacture next generation heating and cooling products in the United States in support of our company mission to build a healthier, more comfortable world for all those who inhabit it, without compromising the environment.  ETF’s deep understanding of DOE staff and processes, and their ability to rapidly deploy a team with deep industry expertise, dramatically improved our grant application while meeting our tight timeline.  We’re excited to continue working with ETF to close on our grant funding.”

Gradient’s Defense Production Act grant is aligned with US federal government goals to advance domestic clean energy and create jobs to support the construction and operation of a new manufacturing facility, which will provide US-manufactured efficient, affordable and eco-friendly heat pump technology to underserved and frontline communities. Gradient’s commitment to the Justice40 initiative ensures the benefits of the construction and operation of the facility as well as the sale and distribution of the product they will be manufacturing will serve those that need a higher quality of life.

Michael Walton, ETF’s Managing Partner, emphasized the company’s dedication to facilitating energy transition projects. “We are thrilled to see our clients, like Gradient, achieve such significant milestones. As companies from around the world converge on the historic opportunity to make the United States the leader and beneficiary of the energy transition, our company is focused on helping them reach financial close or final investment decision on their projects, products and facilities.  This brings the total amount of DOE grants and loans awarded to ETF clients to an impressive $522M,” he stated.  “And with a growing pipeline of clients, we’re just getting started.”

ETF’s free and innovative online assessment tool streamlines the DOE LPO application process, and also allows ETF’s team to recognize opportunities for companies to access State and Federal grant funding and tax credits.  This allows ETF to assist emerging clean tech companies in efficiently navigating application complexities, and ultimately reaching financial close or final investment decision on their project companies, products and manufacturing facilities.

Energy Transition Finance LLC continues to support clean tech companies, from grant and loan application to negotiation, execution and meeting reporting requirements, reaffirming its position as a key player in advancing the clean energy landscape in the United States. More info at energytransitionfinance.com.