SCEDC Member Nostromo Reaches a Milestone $189 Million Loan - South County EDC
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Nostromo Energy, Inc., provider of the IceBrick® system, a breakthrough energy storage solution to decarbonize commercial and industrial (C&I) buildings and the power grid, today announced that it has been invited by the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) to submit a Part II application for a loan guarantee under the Title XVII Innovative Clean Energy Loan Guarantee Program.

The proposed $189 million loan guarantee from the DOE would support Nostromo’s “energy storage-as-a-service” (ESaaS) offering, designed to accelerate the deployment of its large-scale, behind-the-meter, modular and highly-efficient cold energy storage technology. The invitation to submit a Part II application means that the LPO determined, based on information submitted, that Nostromo’s proposed project employs innovative technology, is expected to reduce greenhouse gas emissions and meets the applicable Part I technical eligibility requirements.

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