North America

Equity Stakes & Trade Deals The Trump Administration has taken an unconventional approach to funding upstream activities by taking equity stakes in U.S. companies and using trade deals to facilitate upstream investment with foreign partners. The moves have been complemented by an organizational restructuring in November 2025 to align DOE priorities with Trump Administration goals. Key changes include the rebranding of the Loan Programs Office as the Office of Energy Dominance Financing and the absorption of the Office of Manufacturing and Energy Supply Chains into the new Office of Critical Minerals and Energy Innovation.

COMPANIES THAT RECEIVED EQUITY STAKES FROM THE U.S.

Source: Solar Energy Industries Association SEIA) based on US agency press releases

Extracted from the PDF; charts and images may read imperfectly.