The DOE website noted the recipient contribution as being $877M. The announcement states that the terms of the deal require a dollar for dollar matching as a minimum. I read this as $150M being the minimum contribution vs $877M being what NVX intends to contribute towards the complete facility. Presumably they have confidence around access to funding (which would be greatly helped by the grant) and are still eligible for other grants.
Either way I think the receipt of the grant is a very positive thing.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-76
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