5/12/2023
CelLink Corporation Issued Conditional Commitment for a $362M Loan from Department of Energy for Advanced Manufacturing Facility in Georgetown, TX
Georgetown, TX – CelLink Corporation, a San Carlos, CA-based automotive electronics technology company and the world’s leading manufacturer of high-power, large-area flex harnesses for electric vehicles, today announced that it has received a conditional commitment for a $362M loan from the Department of Energy (DOE) under the Loan Programs Office (LPO) Advanced Technology Vehicles Manufacturing (ATVM) Loan Program. The loan will fund the construction and expansion of CelLink’s new state-of-the-art manufacturing facility in Georgetown, TX.
“As an advanced manufacturer whose early existence was supported by Department of Energy research grants, we are thrilled to receive a conditional commitment for this significant loan from the ATVM Loan Program, which will allow us to meet rising demand from leading electric vehicle manufacturers worldwide,” said Kevin Coakley, co-founder and CEO of CelLink Corporation. “This loan represents more than the financing of a new factory; it represents a true made-in-America innovation reaching global scale.”
CelLink’s new Georgetown facility is in the final stages of construction and is expected to begin production in mid-2023. CelLink’s manufacturing process is highly automated and has a low environmental footprint, creating a unique opportunity to localize vehicle wiring production close to vehicle assembly. The new facility will create up to 1,200 new jobs for the local community in Georgetown.
CelLink’s technology is a key part of an automotive industry trend in which advanced electronic systems and software are becoming the most critical aspects of vehicle design. CelLink’s flex harnesses, incorporated in areas of the vehicle ranging from battery packs to submodules to general vehicle wiring, enable a new dimension of design: The replacement of manually-assembled, bulky, bundled round wire harnessing with intelligent flat flexible harnessing. Through its highly automated process, CelLink is able to deliver electrical power and data with lower weight, lower spatial volume, greater precision, and lower system-level cost than is possible with conventional round wire. In addition, CelLink’s proprietary process requires no design-specific dies or tooling, giving CelLink’s customers the ability to iterate on designs rapidly and without tooling costs.
With over 2.5 million products already on the road and a major new manufacturing facility in Georgetown, TX, CelLink is poised to meet the increasing demand for electric vehicles with manufacturing solutions that contribute to a sustainable future.
About CelLink
CelLink Corporation, founded in 2012 by Kevin Coakley and Malcolm Brown, manufactures the world’s largest and most electrically- and thermally-conductive flex harnesses and interconnect systems. The company has raised approximately $315M in private funding to date, with investors including 3M Ventures, Atreides, BMW, BorgWarner, Bosch, D1 Capital Partners, Fidelity, Fontinalis Partners, Ford, Franklin Templeton, Lear, Park West, SK Telecom, Standard Investments, funds and accounts advised by T. Rowe Price Associates, Inc., Tinicum Venture Partners, and Whale Rock Capital.
