Venture Capitalist to Steer DOE's Energy Loan Program

BNET (11/11, Korosec) - The DOE announced Wednesday the appointment of Jonathan Silver, a former managing general partner at Washington D.C.-based venture capitalist firm Core Capital Partners, to head its loan guarantee and green auto programs. Core Capital invests in alternative energy, software, telecommunications and advanced manufacturing technology.

The DOE’s loan guarantee program has $4 billion in appropriations to support $25 billion in loans. The Advanced Technology Vehicles Manufacturing loan program has $7.5 billion in appropriations to support up to $25 billion in loans. Those credit subsidies are in addition to the more than $50 billion in loan guarantee authority the DOE has to advance nuclear, clean coal, advanced renewables and energy efficiency technologies, the agency said in a statement.