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USCIS Approves $64.8M EB-5 Offering for EVelution Energy Solar Cobalt Plant
EVelution Energy has secured approval from U.S. Citizenship and Immigration Services (USCIS) for its EB-5 Immigrant Investor Program offering, supporting up to $64.8 million in subordinated debt financing. The capital will fund development-stage engineering, environmental permitting, and technical validation required to complete a Bankable Feasibility Study targeted for the first quarter of 2027 for its planned commercial-scale, solar-powered cobalt refinery in Yuma County, Arizona.
The development financing combines EB-5 capital with equity raised via a dedicated Qualified Opportunity Zone fund, positioned under Arizona’s nomination for Rural Opportunity Zone 2.0 designation. For downstream construction, EVelution holds a re-issued non-binding Letter of Interest from the Export-Import Bank of the United States (EXIM) under the Make More in America initiative for up to $275 million in senior financing. Construction on the on-site 28 MW solar plant began in June 2026, with refinery construction slated for 2027 and commercial operations targeted for 2029.
Designed with a closed-loop water system that recycles 70% of process water without on-site effluent discharge or tailings disposal, the $450 million facility will produce approximately 7,000 metric tons of contained cobalt annually. Output will be split into 4,000 metric tons of battery-grade cobalt sulfate for EV energy storage and 3,000 metric tons of alloy-grade cobalt metal for defense and aerospace applications, meeting up to 40% of domestic demand to diversify supply chains away from Chinese refining concentration.
VinFast Partners With NexMove to Deploy Commercial Electric Buses in the U.S. via Turnkey TaaS Model
VinFast has entered an initial partnership agreement with NexMove, a joint venture between Transportation Management Services and Zeem Solutions, to introduce its commercial electric bus lineup to the United States. Announced at the APTA 2026 TRANSform & EXPO in Chicago, the collaboration will deliver VinFast e-buses through an integrated Transportation-as-a-Service model bundling rolling stock, dedicated charging infrastructure, ongoing maintenance, and fleet operations under a single agreement backed by a targeted 97% uptime service level agreement. Deliveries of certified, homologated production vehicles to American transit authorities and commercial fleet operators are slated to begin in the first quarter of 2028.
Ahead of full vehicle homologation and initial commercial deliveries, NexMove will stage non-homologated demonstration units across Zeem EV charging depots to support field evaluations, operational assessments, and technical trials with municipal agencies. The e-buses integrate lithium iron phosphate battery architecture, advanced anti-corrosion protection, and high-rate DC fast charging to support intensive urban transit duty cycles. Active safety systems incorporate onboard camera and radar sensor fusion to deliver driver assistance capabilities, real-time safety alerts, telematics monitoring, and centralized charging management.
The joint venture also intends to collaborate on domestic assembly strategies aligned with Federal Transit Administration Buy America requirements, positioning the platform for federally funded transit procurements. VinFast currently operates an ecosystem of approximately 2,000 electric buses throughout Vietnam and is pursuing commercial vehicle expansion across European markets, leveraging its vertically integrated manufacturing and operating footprint to enter North American fleet transit electrification.
California Sets Aside $28 Million to Expand Public DC Fast Charging
California is allocating $28 million to help build out its public fast-charging network. The funding is structured to cover up to 100 percent of eligible costs for new public DC fast chargers, with a cap of $100,000 per charger. By offsetting the full cost of eligible installations, the program lowers the financial barrier for site hosts and operators looking to add high-powered charging for drivers across the state.
Tesla and Pilot Deploy Megacharger Corridor Across Georgia Freight Lane
Tesla and Pilot Travel Centers have commissioned the first public Class 8 Megacharger corridor outside California, activating 14 ultra-high-power stalls across Georgia. The Southeast freight route connects an eight-stall facility in Conley, south of Atlanta near the I-285/I-675 junction, to a six-stall installation at Pilot Travel Center #1390 in Ellabell along Interstate 16 near the Port of Savannah. Each pull-through stall delivers charging capacities up to 1.2 MW, replenishing up to 60 percent of battery capacity in 30 minutes for commercial tractors operating at an 82,000-pound gross vehicle weight rating.
The 220-mile deployment directly addresses regional drayage and heavy-duty logistics, enabling continuous turnarounds between the Port of Savannah and Atlanta distribution hubs for both the 325-mile Standard Range and 500-mile Long Range Semi variants. The Ellabell installation represents the inaugural commercial site delivered under the Pilot-Tesla infrastructure partnership, which has shifted its deployment roadmap to include California, Georgia, Nevada, Texas, and Indiana while dropping New Mexico.
Three additional Pilot and Flying J Megacharger hubs are preparing for imminent activation in Tulare, Fort Stockton, and North Las Vegas, backed by nine locations under active construction. The openings expand Tesla’s public commercial charging footprint to four operational hubs totaling 26 stalls, coinciding with the ramp of dedicated 50,000-unit annual volume production capacity at its Nevada manufacturing facility.