Utility Dive•about 1 month ago
US Energy Department offers $134M to boost rare earth recovery projects
- •The US Department of Energy (DOE) is offering $134 million in funding to support domestic rare earth recovery projects, aiming to bolster critical mineral supply chains.
- •Rare earths are essential for advanced manufacturing, defense systems, and high-performance magnets used in power generation (e.g., wind turbines) and electric motors (e.g., EVs).
- •This initiative seeks to reduce reliance on foreign sources for these vital materials, potentially stabilizing or reducing long-term costs for equipment and components critical to energy transition and industrial sectors.
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