Government · United States
U.S. Department of Commerce
HQ Washington, United StatesFounded 1903
US federal department; runs the CHIPS incentives program and, through BIS, the Entity List and export controls.
Awards issued3 · up to $1.63B ceiling
| Announced | Award | Recipients | Type | Program | Obligated | Ceiling | Confidence |
|---|---|---|---|---|---|---|---|
| Jun 3, 2026 | CHIPS loan agreementpress:usa-rare-earth:2026-06-03:loan | USA Rare Earth | Loan | — | — | Up to $1.30B | Confirmed |
| Jun 3, 2026 | CHIPS incentives final awardpress:usa-rare-earth:2026-06-03 | USA Rare Earth | Grant | — | — | Up to $277M | Confirmed |
| Nov 21, 2025 | CHIPS incentives letter of intentpress:vulcan-elements:2025-11-21:chips | Vulcan Elements | Grant | — | — | Up to $50.0M | Confirmed |
- Up to $1.30BCeiling
- Up to $277MCeiling
- Up to $50.0MCeiling
Obligated is what has been committed so far; ceiling is the most the award can reach. Joint values cover all recipients and are excluded from this company’s money totals.
Jun 3, 2026Government record (high significance)Department of Commerce's CHIPS Program Finalizes Definitive Agreement With USA Rare Earth For Up To $1.6 BillionNational Institute of Standards and TechnologyNov 21, 2025Government record (high significance)Office of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement TechnologiesU.S. Department of War
- Jun 3, 2026Government record (high significance)National Institute of Standards and TechnologyDepartment of Commerce's CHIPS Program Finalizes Definitive Agreement With USA Rare Earth For Up To $1.6 Billion
- Nov 21, 2025Government record (high significance)U.S. Department of WarOffice of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement Technologies
Sources3
- 1Government recordDepartment of Commerce's CHIPS Program Finalizes Definitive Agreement With USA Rare Earth For Up To $1.6 Billion
National Institute of Standards and Technology · Jun 3, 2026 · Supports Organization
“the signing of a final award for up to $277 million in federal incentives and a loan agreement for up to $1.3 billion”
- 2Government recordOffice of Strategic Capital Agrees to Joint $700M Conditional Loan Commitment with Vulcan Elements and ReElement Technologies
U.S. Department of War · Nov 21, 2025 · Supports Organization
“signed a preliminary non-binding letter of intent to provide $50 million in proposed federal incentives under the CHIPS and Science Act”
- 3
Library of Congress · Supports Organization · founded year
“It wasn’t until February 14, 1903 that the U.S. Department of Commerce and Labor was created with George B. Cortelyou as its first Secretary.”
Each fact on this page is attached to the sources that support it. Archived copies are linked when we keep one.