DOE picks Nth Cycle for up to $100 million in critical minerals refining talks
Published · Updated
What happened
The U.S. Department of Energy announced that Nth Cycle was selected to enter negotiations for a potential award of up to $100 million for a new refining facility in the Southeast United States. DOE said Project SHIELD would process domestic black mass into nickel MHP and battery-grade lithium carbonate for battery, defense, and AI-related supply chains.
Why it matters
The announcement adds a new U.S. refining project to the federal pipeline for battery and defense materials, with an indicated annual processing capacity of 24,000 metric tons of black mass. Because the selection is for award negotiations rather than a completed grant, the next steps on financing terms, milestones, and siting will determine whether the project changes near-term domestic supply availability.
The U.S. Department of Energy said on September 13 it selected Nth Cycle to enter award negotiations for up to $100 million to build Project SHIELD, a critical-mineral refining facility in the U.S. Southeast. DOE said the plant would process up to 24,000 metric tons of domestic black mass each year and produce nickel mixed hydroxide precipitate and battery-grade lithium carbonate. The announcement is not yet a final award, but it moves a domestic recycling and refining project into a stage where federal terms, milestones, and timing now matter for supply-chain planning.
Watch for
U.S. Department of Energy publication of a negotiated award notice or project milestone terms for Nth Cycle by 2026-09-17 Nth Cycle filing of state or local permit applications in the Southeast U.S. for Project SHIELD by 2026-09-17 U.S. Department of Energy clarification of Project SHIELD feedstock sourcing or offtake conditions for nickel MHP and lithium carbonate by 2026-09-17 No SEC, company, or DOE disclosure of matching private capital or co-investors for Project SHIELD by 2026-09-17
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