The Trump administration is taking direct ownership stakes in critical mineral startups as part of a $1.4B deal to rebuild the US rare-earth supply chain. (WSJ)
Vulcan Elements will receive $1.2B in total funding—including a $620M DOD loan, $50M in Commerce Department equity, and $550M from private investors—to build a factory capable of producing 10K metric tons of magnets/year.
ReElement Technologies, which specializes in recycling rare-earth materials, will get $160M in combined federal and private backing to supply Vulcan with recovered inputs.
Big picture: The government’s move to take stakes in both companies echoes its recent investments in MP Materials, Intel, Nvidia, and AMD—a sign Washington is becoming both financier and shareholder in strategic energy and tech infrastructure.