$30 Million Investment in Critical Minerals Domestic Supply Chain

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【Summary】The Biden-Harris administration is allocating $30 million to develop the domestic supply chain for critical minerals. The funding will lower costs and reduce reliance on offshore supplies, supporting the manufacturing of clean energy technologies. Extracting these materials from domestic coal resources will create jobs in energy communities and revitalize them. The aim is to strengthen national security, create a clean energy economy, and advance the administration's climate agenda.

FutureCar Staff Aug 26, 2023 9:56 AM PT

$30 Million Investment in Critical Minerals Domestic Supply Chain

Funding from President Biden's Investing in America Agenda will have a positive impact on various aspects of the country. The U.S. Department of Energy (DOE) has announced a funding of up to $30 million to support the onshore production of rare earths and other critical minerals and materials from domestic coal-based resources. This funding, provided by the Bipartisan Infrastructure Law, aims to meet the growing demand for critical minerals in the United States and reduce dependence on offshore supplies. The extraction of these materials from coal and associated by-products not only supports clean energy technologies but also creates employment opportunities in communities that have historically relied on fossil energy resources.

U.S. Secretary of Energy Jennifer M. Granholm expressed that President Biden's agenda is focused on rebuilding the manufacturing sector and developing clean energy technologies. The investments made will help reduce reliance on foreign supply chains and generate high-quality jobs in communities that have contributed to the nation's power generation.

The United States heavily relies on imports for over 80% of its rare earth demand. However, rare earth elements can be found naturally in domestic coal and coal wastes. The funding opportunity seeks to tap into this unconventional resource and establish a domestic supply chain that is crucial for the economy, clean energy, and national security. The program will fund research for the development of extraction, separation, and refining technologies for rare earths and critical minerals, with a focus on clean energy, national defense, and commercial commodity products and equipment.

Overall, the funding provided by President Biden's Investing in America Agenda will play a significant role in creating jobs, strengthening national security, revitalizing energy communities, and building a clean energy economy.