The Biden administration is on the verge of finalizing significant financial support for electric-vehicle manufacturer Rivian Automotive Inc. and hydrogen company Plug Power Inc. The Energy Department is expected to announce a loan guarantee of nearly $1.7 billion for Plug Power to construct hydrogen plants crucial for its growth plans. Additionally, a federal loan will be provided to Rivian for the establishment of a manufacturing plant in Georgia, although the exact amount has not been disclosed. Despite potential opposition from the incoming Trump administration, the Biden government is pushing forward with funding through the Energy Department's loan program. This move comes amidst concerns that the Loan Programs Office may be restructured to support fossil fuels, a shift opposed by many. Following this news, Plug Power's shares surged by up to 6.6% and Rivian's stock saw a rise of 4.4% before regular trading hours. The market response indicates confidence in the growth prospects of the two companies. The financing signals a continued commitment to green energy initiatives despite potential challenges ahead, showing the administration's dedication to supporting clean technology and energy infrastructure.