WASHINGTON, D.C. –(ENEWSPF)–March 26, 2015. Today the Department of Energy announced a $259 million loan to Alcoa Inc. under the Advanced Technology Vehicles Manufacturing (ATVM) loan program. The loan will support the company’s Alcoa, Tennessee plant, which will retool to manufacture high-strength automotive-grade aluminum for use in a wide range of passenger cars and trucks. Aluminum can significantly improve the fuel efficiency of new cars and trucks while maintaining safety. The loan will support an additional 200 full-time jobs at the Alcoa facility.
