The stunning rejection of a $321-million loan by the U.S. Dept. of Energy has start-up automaker V-Vehicle Co. weighing its next move. The loan, to come from DOE’s Advanced Technology Vehicles Manufacturing program, would have funded a $241.2-million renovation at the former Guide Corp. headlight plant in Monroe, La., and provided another $79.9 million for vehicle design and coordination with up to 30 suppliers. V-Vehicle said the loan was rejected because of questions about the company’s financial viability. Company founder Frank Varasano said earlier the company had raised $86.5 million in private funds. The company’s plan also was supported by
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.