Critical Materials Future Act of 2024

This bill establishes a 5-year pilot program to support domestic processing of critical materials (like minerals for batteries and clean energy tech) using innovative financial tools such as price support mechanisms. It requires the Energy Secretary to fund at least three domestic projects that process raw materials into usable forms, prioritizing those using feedstock from U.S. or allied countries (reliable sources) and having offtake agreements with domestic suppliers. The program, funded with $750 million, aims to reduce supply chain vulnerabilities, enhance national security, and test how financial tools can stabilize markets. Projects must demonstrate energy/national security benefits, economic competitiveness, and reliance on non-"entity of concern" sources (foreign-controlled entities with conflicting interests).