Hey Abel,
I’ll take a look and have something back to you asap.
Best,
Mike
Mike Muldoon
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
P Consider the environment before printing this email.
From: Abel Navarro Homet
[mailto:abel@transatlanticeg.com]
Sent: Thursday, August 19, 2010 2:27 AM
To: 'Mike Muldoon'; Hunter Biden; Devon Archer; Eric Schwerin; Lorenzo
Roccia; Pio Mortera Nales
Subject: RV: USA - DOE "1705" Loan Guarantee Program first
read
Hi Mike
I am here with Hunter and we were discussing that it would be good to take a look
to this program for Ormazabal. I am going to go through it this morning and get
some idea of what it would be interesting for the company. The dead line
application form is on august 31st so we don't have much time. Hunter would
like you to take a look at it and have a small report done before the end of
the week. I also will be sending my ideas to all you guys. Thanks. Regards
Abel
Enviado desde mi BlackBerry® de Vodafone
From: Yvan Giroud <ygi@ormazabal.com>
Date: Tue, 17 Aug 2010 19:06:46 -0400
To: Lorenzo Roccia<lorenzo@transatlanticeg.com>; Roberto Fernández Medrano<rfm@ormazabal.com>
Cc: Abel Navarro Homet<abel@transatlanticeg.com>; ebm@uniblok.com<ebm@uniblok.com>; Pio Mortera Nales<pio@transatlanticeg.com>; ReidFitzgerald<reid@transatlanticeg.com>
Subject: USA - DOE "1705" Loan Guarantee Program first read
Lorenzo, Roberto,
I had a first look at part I of the DOE Loan Guarantee Program online application (https://www.doeloan.com/doe/common/Applicant/Applicant.aspx) to prepare my call to Steven Spinner of DOE.
We may consider apply under section 1703 – Manufacturing Systems and Components Projects. The program would guarantee 80% of aggregate principals and interests.
Preliminary application (“Part I”) is due by August 31, 2010. Equity requirement is at least 20% of total project cost. There is also a requirement to pay prevailing wage rates as per the Davis-Bacon Act, http://www.wdol.gov/, ($32 + $12 fringe benefits hourly rate in Iowa). I have not found any MWBE consideration or personal guaranty requirement.
Fees are as follows:
- $125k application fee (25% with part I application and 75% with part II)
- 0.5% facilitation fee (25% at signing, 75% at closing)
- $50k to $150k maintenance fee (yearly)
Application requirements the following elements:
1. Credit rating of the project (S&P, Moody’s or Fitch)
2. Latitude / Longitude of the manufacturing site
3. Off-take agreements (pre-arranged orders or sales)
4. Revenue projection
5. Environmental Impact Assessment
6. Project sponsor’s right to the Intellectual Property (in this case Orma-Transatlantic Inc.)
7. Job creation estimate
8. Technical & project descriptions
9. Summary business and financial plans
10. OMB Application (not sure what it is)
I plan to call Steve Spinner tomorrow to explore further those 10 items and determine whether they are mandatory for the initial August 31 deadline and how critical they are to a successful application.
Best regards,
Yvan
Yvan
T +1 203 983 8176
C +1 203 339 1548
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