| Instructions for Applicants | |||||||||
| Calculated or from other tab | Instructions are in yellow boxes next to the corresponding inputs | ||||||||
| This worksheet is used to capture information on Critical Material project proposals. Input data and assumptions should be substantiated in and show clear correspondence to applicant's project narrative. Applicant should first fill out the relevant user input (green) cells in the Project Overview tab. Data will be extracted from this workbook to compare submissions. Therefore, no cells, rows, or columns should be added. | |||||||||
| Section | Applicant Information | Input | Units | Notes | |||||
| Project Overview | Applicant Control Number | The control number used to track the application in the DOE 48C application portal | |||||||
| Company Name | |||||||||
| City (HQ) | |||||||||
| State (HQ) | |||||||||
| Zip Code (HQ) | |||||||||
| City (Facility) | |||||||||
| State (Facility) | |||||||||
| Zip Code (Facility) | |||||||||
| Qualified Investment ($) | Dollar amount of the qualified investment that "re-equips, expands, or establishes" the facility, as defined in 48C(b). | ||||||||
| Expected Credit Rate | Applicants should select a 30% tax credit if they anticipate meeting the wage and apprenticeship requirements under 48C(e)(5) and (6). Applicants who do not anticipate meeting those requirements should select 6% from the dropdown. For more on wage and apprenticeship requirements, please see Section 4 of IRS Notice 2023-18 | ||||||||
| Tax Credit ($) | $0.00 | Calculated by multiplying Qualified Investment by Expected Credit Rate. | |||||||
| Project Type | |||||||||
| Calculated or from other tab | Instructions are in yellow boxes next to the corresponding inputs | |||
| This worksheet is used to capture information on commercial viability of Critical Materials project proposals. Input data and assumptions should be substantiated in and show clear correspondence to applicant's project narrative. Data will be extracted from this workbook to compare submissions. Therefore, no cells, rows, or columns should be added. Cash flow statement instructions: In the appendix materials, applicants should provide an investment bank quality financial model for the project. The model should quantify the projected financial parameters including operating costs, operating revenues, financing cash flows, EBITDA, tax credits/liabilities, and ROI over the project lifespan. The model should also include a list of key economic/financial assumptions as a separate tab. The model should be dynamic and not hardcoded. [Please use nominal dollars, note inflation estimator used and the start year] |
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| Section | Applicant Information | Input | Notes | Instructions |
| Organization | Organization type | Small business, medium business, large business, academic, federal government, state or local government, non-profit. Small and medium enterprises are classified in the North American Industry Classification System (NAICS) as any of sectors 31 through 33; and have a total number of employees within 165% of the size standard limits established by the Small Business Administration (SBA), based on the firm’s associated NAICS sector as set forth in 13 CFR Part 121.201. | ||
| Public or private (if small, medium, or large business) | ||||
| Investment stage (if private) | ||||
| Capital raised to date ($) | ||||
| Annual revenue ($) | Provide the revenue of the applicant company for the most recently completed fiscal year | |||
| Net income ($) | ||||
| Debt to capital ratio | ||||
| Cash flow available for debt service ($) | ||||
| 5-year revenue projection ($) | ||||
| Total full-time employees | ||||
| Market cap (if public) | ||||
| Moody's investment grade (if available) | ||||
| S&P investment grade (if available) | ||||
| Fitch investment grade (if available) | ||||
| Project to completion | Date Complete Permitting | |||
| Date Begin Construction | ||||
| Date Begin Operation | ||||
| Future equity need to support organization growth over next 5 years ($) | ||||
| Future debt need to support organization growth over next 5 years ($) | ||||
| Site selection | Company Name | |||
| City (Facility) | ||||
| State (Facility) | ||||
| Zip Code (Facility) | ||||
| Project finance metrics | Projected return on investment | See instructions above on the cash flow statement to be submitted | ||
| Weighted average cost of capital | See instructions above on the cash flow statement to be submitted | |||
| Projected payback period | See instructions above on the cash flow statement to be submitted | |||
| Net present value (with incentives) | See instructions above on the cash flow statement to be submitted | |||
| Net present value (without incentives) | ||||
| Unlevered Project IRR (%) (with incentives) | See instructions above on the cash flow statement to be submitted | |||
| Unlevered Project IRR (%) (without incentives) | ||||
| Break-even point (with incentives) | See instructions above on the cash flow statement to be submitted | |||
| Break-even point (without incentives) | ||||
| Project finance sources (please list sources in the table below) | Equity (%) | Indicate the percentage of anticipated equity from outside sources | ||
| Debt (%) | Indicate the percentage of debt anticipated in the capital stack. Enter 0 if not applicable. | |||
| State or local incentives ($) | Indicate amount of state or local incentives received for the project and briefly describe whether it is a fixed-dollar amount or cost-share. | |||
| State or local incentives (non-financial) | Also describe non-financial incentives (e.g., land leases, apprenticeship programs, infrastructure support etc.). | |||
| Other federal incentives ($) | Indicate amount of federal incentives received for the project and briefly describe whether it is a fixed-dollar amount or cost-share. | |||
| Market overview | Target addressable market ($ revenue) | Site third party vetting/ inputs | ||
| Target addressable market (# of units) | Site third party vetting/ inputs | |||
| Project YOY market growth over the next 5 years (5) | Site third party vetting/ inputs | |||
| Market share over the next 5 years (%) | Site third party vetting/ inputs | |||
| Product competitiveness | Unit cost ($) | Site third party vetting/ inputs | ||
| Absolute difference in unit cost of product compared to industry average | Site third party vetting/ inputs | |||
| Percent difference in unit cost of product compared to industry average | Site third party vetting/ inputs | |||
| Corporate health | Ongoing legal claims (Yes or No) | Indicate if there are any ongoing or expected legal claims related to the project . If selecting Yes, please describe in application narrative | ||
| Planned debt restructuring (Yes or No) | Indicate any planned debt restructuring. If selecting Yes, please explain in the application narrative. | |||
| Going concern (Yes or No) | ||||
| Near-term debt maturities ($) | Please briefly describe the company's growth plans for the next five years. | |||
| Other planned corporate actions that may affect completion of project (Yes or No) | Indicate any planned corporate or management actions that can impact the timely completion of the project or can cause the project to be stalled for an extended period of time. If selecting Yes, explain in brief. | |||
| List the top four financing sources for the project and the sum of all other financing sources. Please describe the timing of expected equity contributions and debt funding as well as the timing of repayment of expected debt funding | ||||
| Financing Source | Type of Financing (e.g., equity, debt, etc.) | Amount ($) | Timing of financing | |
| Financing Source 1 | ||||
| Financing Source 2 | ||||
| Financing Source 3 | ||||
| Financing Source 4 | ||||
| Financing Source 5 | ||||
| Sum of other financing sources | ||||
| Indicate the main categories of expenditures associated with the qualified investment. If project contains additional categories of expenditures that are not eligible as a qualified investment (e.g., building expansion), indicate here as well. | ||||
| Cost ($) | Description of expenditure (e.g., Purchasing 2 new units of XX machinery, retooling XX production line) | Is this investment qualified per IRS Notices 2023-18 and 2023-44? | ||
| Calculated or from other tab | Instructions are in yellow boxes next to the corresponding inputs | |||||||
| Applicants are asked to estimate the emissions footprint of the facility itself, inclusive of Scope 1 emissions and electricity- and fuel-related Scope 2 emissions. | ||||||||
| Facility-Level Greenhouse Gas Emissions | ||||||||
| EPA GHGRP ID (if applicable) | Applicants with existing facilities subject to EPA GHGRP reporting should provide their GHGRP ID. | |||||||
| Estimated Facility Greenhouse Gas Emissions Scope 1 | metric tons CO2e/year | Estimate the annual Scope 1 CO2-equivalent emissions at the facility after the project is completed and fully operational. Scope 1 emissions should include at least emissions associated with on-site stationary combustion, process emissions, and use of gases such as HFCs. For assistance, applicants may wish to consider the use of the EPA's Simplified GHG Calculator or Greenhouse Gas Equivalencies Calculator. Applicants for Critical Materials projects are not required to submit a full methodology, but should justify their emissions estimates in the narrative. See Section V of Appendix B for more information. |
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| Estimated Facility Greenhouse Gas Emissions Scope 2 | metric tons CO2e/year | Estimate the annual Scope 2 (electricity- and fuel-related) CO2-equivalent emissions at the facility after the project is completed and fully operational. Scope 2 emissions should include at least the upstream emissions associated with the production of any electricity, hydrogen, or steam purchased by the facility. For assistance, applicants may wish to consider the use of the EPA's Simplified GHG Calculator or Greenhouse Gas Equivalencies Calculator. Applicants for Critical Materials Projects are not required to submit a full methodology, but should justify their emissions estimates in the narrative. See Section V of Appendix B for more information. |
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| Calculated or from other tab | Instructions are in yellow boxes next to the corresponding inputs | |||||||||||||||||||
| Please list the direct jobs that will be created during both construction and operations of the facility. For retrofits/reequipped facilities, please list the number of current jobs for the purposes of calculating incremental operating jobs created by the project. Please be as specific as possible. Direct jobs are those jobs represented by the number of people whose work is directly billed to the project. Do not list Indirect Jobs, defined as employees included in the supply chain who are not directly billed to the project. Examples include: - Producers of equipment or services that are used on the project - Accounting or administrative services - End-use installers - Operating jobs unrelated to the project (for a GHG reduction project in a steel facility, do not count steelworkers not working on the GHG reduction) The review team will calculate indirect jobs using a consistent methodology. |
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| Workforce and community engagement questions | ||||||||||||||||||||
| Question | Input | |||||||||||||||||||
| Does the location or community qualify as a disadvantaged community according to the Climate and Economic Justice Screening Tool (CEJST)? (Yes/No) | ||||||||||||||||||||
| Does the location qualify as a 48C energy community? (Yes/No) | ||||||||||||||||||||
| If yes to above, which census tract as identified in Appendix C or IRS Notice 2023-44 is your poject located in? | ||||||||||||||||||||
| Does the project meet the Prevailing Wage and Apprenticeship (PWA) requirements? (Yes/No) For more on wage and apprenticeship requirements, please see Section 4 of IRS Notice 2023-18. |
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| Have you provided a Prevailing Wage and Apprenticeship (PWA) certification? (Yes/No) | ||||||||||||||||||||
| How many apprenticeships do you anticipate supporting through this project? | ||||||||||||||||||||
| How many scholarships do you anticipate supporting through this project? | ||||||||||||||||||||
| What is the anticipated value of scholarships you will provide? | ||||||||||||||||||||
| How frequently will you award scholarships? | ||||||||||||||||||||
| Workforce and community agreements | ||||||||||||||||||||
| Applicant should fill out this section with all community and workforce agreements and programs under development, signed, or active. Please list the specific named co-signers or other partners in last column. Please list the specific named co-signers or other partners in last column. Please distinguish between co-signers and anticipated co-signers where appropriate. | ||||||||||||||||||||
| Agreement Type | No of agreements under development | No. of agreements signed or active | List key co-signatory parties (e.g., X community nonprofit, X union local) | |||||||||||||||||
| Good Neighbor Agreement / Community Benefits Agreement | ||||||||||||||||||||
| Collective Bargaining Agreement (Non-Construction) | ||||||||||||||||||||
| Project Labor Agreement or Community Workforce Agreement (Construction) | ||||||||||||||||||||
| Other workforce development agreements or community engagement agreements | ||||||||||||||||||||
| Workforce and jobs impacts | ||||||||||||||||||||
| Applicant should fill out this section for any construction jobs they anticipate will meet wage and apprenticeship requirements under 48C(e) and corresponding Treasury guidance. | Applicant should fill out this section only if they anticipate that certain construction jobs will not meet prevailing wage and apprenticeship requirements. If so, they are not guaranteed the 30% credit and should expect to receive a 6% credit or pay penalties. | Current and anticipated operating jobs at the facility. Applicant should fill out the first column for Current FTE only if this is an existing facility. | ||||||||||||||||||
| Construction Jobs - Meeting Wage and Apprenticeship Requirements | Construction Jobs - NOT Meeting Wage and Apprenticeship Requirements | Operating Jobs | ||||||||||||||||||
| Job Category | Annualized FTE | Annualized FTE | Annualized FTE | Annualized FTE | Annualized FTE | Job Category | Annualized FTE | Annualized FTE | Annualized FTE | Annualized FTE | Annualized FTE | Job Category | Current FTE (if applicable) |
Annualized New FTE | Annualized New FTE | Annualized New FTE | Annualized New FTE | Annualized New FTE | ||
| Applicant can determine category | FY2023 | FY2024 | FY2025 | FY2026 | FY2027 | Applicant can determine category | FY2023 | FY2024 | FY2025 | FY2026 | FY2027 | Applicant can determine category | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | FY2027 | ||
| Environmental impacts | ||||||||||||||||||||
| Quantify the extent to which the proposed project accounts for its environmental impact to the surrounding community. Applicants may find it helpful to consult the U.S. Environmental Protection Agency’s Environmental Justice Screening and Mapping (EJSCREEN) tool (https://www.epa.gov/ejscreen). |
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| Pollutant Type | Source | Annual Emissions (current) | Annual Emissions (future expected, due to this project) | Units | ||||||||||||||||
| Instructions for Critical Material Processing, Refining, and Recycling Project Applicants | ||||||||||
| Calculated or from other tab | Instructions are in yellow boxes next to the corresponding inputs | |||||||||
| Applicant should fill out the relevant user input (green) cells in the tables for both Material Inputs and Critical Material Outputs. If the project is producing multiple critical minerals and or is involved in multiple production stages (processing refining, recycling), fill in quantity in each relevant material, mineral, and/or production stage that is applicable. |
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| Material Input | Example of How to Fill Out Material Inputs (Examples provided here are independent from example provided in the output table below) | |||||||||
| Input Type | Input Description | Input capacity (tons) | Sourcing | Input Type | Input Description | Input capacity (tons) | Sourcing | |||
| Select input type (selected primary for virgin materials, and secondary for scraps/end of life materials | Briefly describe input selected e.g. ore, mine tailing, waste stream, concentrate, scraps(automobile, mixed - shredded, household appliance, new(manufacturing/industrial) scraps etc.) etc. | For each input , provide the corresponding amount entering the facility. If more than 10 inputs, provide the 10 inputs with largest annual tonnage | For each input briefly describe where it is sourced (including associated geographical region), and the status of any agreements to procure the input | Select input type (selected primary for virgin materials, and secondary for scraps/end of life materials | Briefly describe input selected e.g. ore, mine tailing, waste stream, concentrate, scraps(automobile, mixed - shredded, household appliance, new(manufacturing/industrial) scraps etc.) etc. | For each input , provide the corresponding amount entering the facility. If more than 10 inputs, provide the 10 inputs with largest annual tonnage | For each input briefly describe where it is sourced (including associated geographical region), and the status of any agreements to procure the input | |||
| Primary | Bauxite | 100000 | U.S | |||||||
| Primary | Alumina | 200000 | U.S | |||||||
| Secondary | Aluminum containing old scraps | 200000 | U.S | |||||||
| Secondary | Aluminum containing new scraps | 200000 | U.S | |||||||
| Secondary | Automobile scraps | 100000 | U.S | |||||||
| Primary | Nickel ore | 100000 | Canada | |||||||
| Secondary | Nickel containing old scraps | 50000 | Canada | |||||||
| Secondary | Battery old scraps | 1000 | U.S | |||||||
| Secondary | Permanent magnets | 1 | U.S | |||||||
| Primary | Rare earth element ore | 500 | U.S | |||||||
| Critical Materials Outputs (Each applicant MUST fill in input table above used to produce these outputs) | Example of How to Fill Out Critical Materials Outputs (Examples provided here are independent from examples provide in the input table above) | |||||||||
| Critical Materials Outputs | Processing (tons) | Refining (tons) | Recycling Output (tons) | Critical Materials | Processing (tons) | Refining (tons) | Recycling Output (tons) | Notes | ||
| If other material is produced, enter the material and associated amounts after row 79 | If the facility performs any processing (i.e., converting ore into high-value concentrate [comminution, dewatering, beneficiation]), fill out this column with the average annual output tonnage of the metal or element content contained in the concentrate produced. For instance, if a project produces a concentrate that contain multiple recoverable critical materials, please calculate each recoverable material content contained in your concetrate and fill out the annual average amount in each respective material below. Provide the tonnage in terms of the raw material present, not its compound or chemical form. |
If the facility performs any refining at all (i.e., converting a concentrate into metal or element [smelting, purifying, reduction]), fill out this column with the average annual output tonnage of each respective metal or element produced. Provide the tonnage in terms of the raw metal present, not its compound or chemical form. |
If the facility performs any recycling activities, fill out this column with the average annual output tonnage of the metal or element produced/recovered from the recyling activity. Provide the tonnage in terms of the raw metal produced/recovered, not its compound or chemical form. |
Example of possible projects | If the facility performs any processing (i.e., converting ore into high-value concentrate [comminution, dewatering, beneficiation]), fill out this column with the average annual output tonnage of the metal or element content contained in the concentrate produced. For instance, if a project produces a concentrate that contain multiple recoverable critical materials, please calculate each recoverable material content contained in your concetrate and fill out the annual average amount in each respective material below. Provide the tonnage in terms of the raw material present, not its compound or chemical form. |
If the facility performs any refining at all (i.e., converting a concentrate into metal or element [smelting, purifying, reduction]), fill out this column with the average annual output tonnage of each respective metal or element produced. Provide the tonnage in terms of the raw metal present, not its compound or chemical form. |
If the facility performs any recycling activities, fill out this column with the average annual output tonnage of the metal or element produced/recovered from the recyling activity. Provide the tonnage in terms of the raw metal produced/recovered, not its compound or chemical form. |
Example of possible scenario of operations | ||
| Aluminium | Nickel - Project A | 6,000.00 | 6,000.00 | 2,500.00 | Example of a facility involved all three operations | |||||
| Antimony | Nickel - Project B | 6,000.00 | 2,500.00 | Example of a facility involved in processing and recycling operation only | ||||||
| Arsenic | Nickel - Project C | 6,000.00 | 2,500.00 | Example of a facility involved in refining and recycling operations | ||||||
| Barite | Nickel - Project D | 6,000.00 | 6,000.00 | Example of a facility involved in recyling and refining operations | ||||||
| Beryllium | Nickel - Project E | 2,500.00 | Example of a facility involved in recyling operation only | |||||||
| Bismuth | Nickel - Project F | 6,000.00 | Example of a facility involved in processing only | |||||||
| Cerium | Neodymium - Project G | 5.00 | 1.00 | Example of a facility that produce multiple critical materials | ||||||
| Cesium | Dysprosium - Project G | 0.20 | 0.10 | |||||||
| Chromium | Cerium - Project G | 0.20 | 0.10 | |||||||
| Cobalt | Cobalt - Project H | 500.00 | Example of a facility involved in recycling only | |||||||
| Dysprosium | ||||||||||
| Electrical Steel* | ||||||||||
| Erbium | ||||||||||
| Europium | ||||||||||
| Fluorine* | ||||||||||
| Fluorspar | ||||||||||
| Gadolinium | ||||||||||
| Gallium | ||||||||||
| Germanium | ||||||||||
| Graphite | ||||||||||
| Hafnium | ||||||||||
| Holmium | ||||||||||
| Indium | ||||||||||
| Iridium | ||||||||||
| Lanthanum | ||||||||||
| Lithium | ||||||||||
| Lutetium | ||||||||||
| Magnesium | ||||||||||
| Manganese | ||||||||||
| Neodymium | ||||||||||
| Nickel | ||||||||||
| Niobium | ||||||||||
| Palladium | ||||||||||
| Platinum | ||||||||||
| Praseodymium | ||||||||||
| Rhodium | ||||||||||
| Rubidium | ||||||||||
| Ruthenium | ||||||||||
| Samarium | ||||||||||
| Scandium | ||||||||||
| SiC* | ||||||||||
| Tantalum | ||||||||||
| Tellurium | ||||||||||
| Terbium | ||||||||||
| Thulium | ||||||||||
| Tin | ||||||||||
| Titanium | ||||||||||
| Tungsten | ||||||||||
| Uranium* | ||||||||||
| Vanadium | ||||||||||
| Ytterbium | ||||||||||
| Yttrium | ||||||||||
| Zinc | ||||||||||
| Zirconium | ||||||||||
| Other: | ||||||||||
| File Type | application/vnd.openxmlformats-officedocument.spreadsheetml.sheet |
| File Modified | 0000-00-00 |
| File Created | 0000-00-00 |