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Joe Biden is set to highlight a business tied to Secretary of Energy Jennifer Granholm.
According to The Washington Free Beacon:
Energy Secretary Jennifer Granholm owns up to $5 million in the electric battery and vehicle manufacturer President Joe Biden will promote on Tuesday as part of his push for a $1.9 trillion infrastructure bill.
Biden’s virtual visit to the electric battery producer Proterra comes days after Vice President Kamala Harris paid a visit to Thomas Built Buses, a North Carolina-based school bus company that counts Proterra as its main supplier of electric vehicles. The back-to-back White House visits to Granholm-connected companies risk at least the appearance of impropriety and demonstrate how lawmakers can use policy initiatives to pad their own wallets. Biden’s infrastructure package includes a $174 billion investment in the electric vehicle market, calls for the replacement of “50,000 diesel transit vehicles” in favor of electric alternatives, and creates a Clean Buses for Kids program that will “electrify at least 20 percent of our yellow school bus fleet.”
Granholm has taken a leading role in the administration’s forthcoming infrastructure package. The president in February tasked her with “identifying risks in the supply chain for high-capacity batteries, including electric-vehicle batteries, and policy recommendations to address these risks.”
Granholm joined Proterra’s board of directors in March 2017; internet archives list her as a board member as recently as February 19, 2021, shortly before her confirmation on February 25. Her financial disclosures reveal up to $5 million worth of stock options in the green tech company, which went public in January through the special purpose acquisition company ArcLight Clean Transition Corp. Arclight, a NASDAQ-listed company, saw shares shoot up about 55 percent since its September IPO, a spike financial traders attributed directly to the acquisition of Proterra.
The White House has confirmed that Granholm still holds stock in Proterra.