{
  "commitment": {
    "id": "fin-us-dow-5n-germanium-2025",
    "eventId": "evt-us-dow-5n-germanium-2025",
    "relationships": [],
    "instrument": "grant",
    "valueRole": "commitment",
    "capitalSource": "public",
    "amount": {
      "value": "18100000",
      "currency": "USD",
      "qualifier": "exact",
      "amountAsStated": "$18.1 million",
      "currencyBasis": "issuer_context"
    },
    "provider": "U.S. Department of War",
    "providerJurisdiction": "us",
    "providerOrgIds": [
      "org-us-dod"
    ],
    "legalAuthority": "Defense Production Act Title III",
    "programmeId": null,
    "recipient": "5N Plus Inc.",
    "recipientOrgIds": [
      "org-5n-plus"
    ],
    "project": "St. George germanium recovery and refining expansion",
    "projectId": "prj-us-5n-st-george-germanium-refining",
    "facility": "St. George facility",
    "locations": [
      {
        "countryCode": "US",
        "subnational": "Utah",
        "asStated": "St. George, Utah"
      }
    ],
    "stages": [
      "recycling",
      "refining"
    ],
    "stageAllocation": "multi_stage_unallocated",
    "materialIds": [
      "germanium"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "financialStatusHistory": [
      {
        "status": "decided",
        "date": "2025-12-15",
        "sourceId": "src-dow-5n-germanium-2026",
        "note": "The Department states that the investment was made on 15 December 2025 and announced later because of the government shutdown. No execution or payment evidence is established in the reviewed sources: no definitive agreement or federal award record was found, USAspending lists no 2025 or later award to 5N Plus for this scope as of 4 October 2026 (an absence in one dataset, which can lag), and 5N+'s filings call it an award without stating execution. The row is not advanced to contracted."
      }
    ],
    "implementationStatusHistory": [
      {
        "status": "announced",
        "date": "2026-01-29",
        "sourceId": "src-dow-5n-germanium-2026",
        "note": "The Department states that 5N+ will expand zone-refining capacity at its St. George facility. 5N+ describes a planned expansion over 48 months (30 January 2026 release) and, in its 2025 Sustainability Report, over the next four years. 'Announced' records this stated plan, not construction. The St. George site itself operates; no later physical stage of the funded scope is evidenced in the sources read, and 5N+'s 22 September 2026 facility-expansion release does not attribute that expansion to this award."
      }
    ],
    "terms": [
      {
        "kind": "duration",
        "value": "48",
        "qualifier": "exact",
        "currency": null,
        "unit": "months",
        "asStated": "over the course of the next 48 months",
        "sourceId": "src-5n-germanium-2026",
        "note": "Company description of the capacity-expansion period."
      }
    ],
    "outcomes": [
      {
        "metric": "annual_capacity",
        "value": "20",
        "qualifier": "up_to",
        "unit": "metric tons of high-purity germanium per year",
        "targetDate": null,
        "asStated": "valorize up to 20 metric tons of high-purity germanium per year",
        "statedBy": "recipient",
        "sourceId": "src-5n-germanium-2026",
        "note": "The company describes recovery/refining capability; the Department separately describes zone-refining capacity as more than 20 metric tons annually, so the two statements are not merged."
      }
    ],
    "evidence": [
      {
        "sourceId": "src-dow-5n-germanium-2026",
        "supports": [
          "instrument",
          "value_role",
          "capital_source",
          "amount",
          "provider",
          "legal_authority",
          "recipient",
          "project",
          "facility",
          "location",
          "stages",
          "materials",
          "status"
        ],
        "evidence": "explicit",
        "locator": "Opening through capacity paragraphs",
        "note": "The release says the investment was made on 15 December 2025; it does not say an agreement was executed or any amount paid."
      },
      {
        "sourceId": "src-5n-germanium-2026",
        "supports": [
          "instrument",
          "amount",
          "recipient",
          "project",
          "facility",
          "location",
          "stages",
          "materials",
          "terms",
          "outcomes"
        ],
        "evidence": "explicit",
        "locator": "Opening through capacity paragraphs",
        "note": "Recipient release: 5N+ says it 'has been awarded' the grant and describes future-tense capacity growth ('will enable', 'gradually', 'In time') over 48 months. It states no execution, condition or payment."
      },
      {
        "sourceId": "src-5n-mda-q4-2025",
        "supports": [
          "instrument",
          "amount",
          "recipient",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Page 4, Specialty Semiconductors discussion, sentence beginning 'In early 2026, the Company announced'",
        "note": "Recipient securities disclosure: the grant is described as awarded, without naming St. George, stating execution, conditions or payment. The FY2025 financial statements carry only a general government-grants accounting policy and no award-specific receivable or deferred amount."
      },
      {
        "sourceId": "src-5n-sustainability-2025",
        "supports": [
          "facility",
          "location"
        ],
        "evidence": "explicit",
        "locator": "Page 42, Waste Management, 'Driving Circularity Through Germanium Recovery'",
        "note": "Recipient publication (not a securities filing): 5N+ describes a 'planned expansion' of germanium recovery and recycling at St. George 'supported by a significant financial award from the U.S. government', to increase recovery 'over the next four years'. It states no execution, payment or stage. It dates the announcement to 2025, whereas the Department and the company's release date it to January 2026, and it also attaches space-qualified solar-cell capacity to this award, which is the 2024 award's subject; neither point is coded here."
      }
    ],
    "notes": "A separate DPA-funded scope from the 2024 germanium-substrate award. Recycling and refining are both named, but the $18.1M is not divided by stage. Reviewed 4 October 2026: no execution or payment evidence established in the reviewed sources (no executed-agreement document, federal award record, payment or payment date was found). The physical stage supported for the funded scope is announced only, which records the stated plan and not construction (recipient wording is future-tense, including its 2025 Sustainability Report, which is undated). 5N+'s 22 September 2026 release about a roughly 50% St. George facility expansion says it is funded from existing capex plans and customer support and does not attribute it to this award.",
    "lifecycleReview": {
      "financialStatusCheckedAt": "2026-10-04",
      "implementationStatusCheckedAt": "2026-10-04"
    }
  },
  "event": {
    "id": "evt-us-dow-5n-germanium-2025",
    "date": "2025-12-15",
    "jurisdiction": "us",
    "titleEn": "Department of War DPA investment in 5N+ germanium recovery and refining"
  },
  "parents": [],
  "children": [],
  "sources": [
    {
      "id": "src-dow-5n-germanium-2026",
      "title": "Department of War Invests $18.1M to Increase U.S. Refining Capacity for Germanium Metal",
      "publisher": "U.S. Department of War",
      "url": "https://www.war.gov/serve-from-netstorage/News/Releases/Release/Article/4393075/department-of-war-invests-181m-to-increase-us-refining-capacity-for-germanium-m/index.html",
      "language": "en",
      "datePublished": "2026-01-29",
      "dateAccessed": "2026-10-04",
      "sourceType": "official",
      "confidence": "primary",
      "notes": "Official release announcing a 15 December 2025 DPA Title III investment of $18.1M to 5N Plus for St. George germanium refining. States a sevenfold zone-refining expansion to more than 20 metric tons annually and domestic sourcing objectives."
    },
    {
      "id": "src-5n-germanium-2026",
      "title": "5N+ Awarded US$18.1 Million by U.S. Government to Significantly Increase Germanium Production Capacity in St. George, Utah",
      "publisher": "5N Plus Inc.",
      "url": "https://www.5nplus.com/en/news/5n-awarded-us181-million/",
      "language": "en",
      "datePublished": "2026-01-30",
      "dateAccessed": "2026-10-04",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "Company release describing the US$18.1M grant to expand germanium recycling and refining over 48 months, with a target of up to 20 metric tons of high-purity germanium per year."
    },
    {
      "id": "src-5n-mda-q4-2025",
      "title": "5N Plus Inc. Management's Discussion and Analysis, year ended December 31, 2025",
      "publisher": "5N Plus Inc.",
      "url": "https://www.5nplus.com/media/uploads/documents/b2026-02-24_mda_q4_2025.pdf",
      "language": "en",
      "datePublished": "2026-02-24",
      "dateAccessed": "2026-10-04",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "Recipient securities disclosure. Page 4 says that in early 2026 the Company announced it 'has been awarded' a US$18.1M grant by the U.S. Government to expand germanium recycling and refining capacity. It does not name St. George, state an execution date, state conditions or disclose any payment."
    },
    {
      "id": "src-5n-sustainability-2025",
      "title": "5N+ 2025 Sustainability Report",
      "publisher": "5N Plus Inc.",
      "url": "https://www.5nplus.com/media/uploads/documents/b5n_sustainability_report_2025.pdf",
      "language": "en",
      "datePublished": null,
      "dateAccessed": "2026-10-04",
      "sourceType": "other",
      "confidence": "primary",
      "notes": "Recipient publication, not a securities filing. The report states no publication date; the PDF's creation date is 27 April 2026 and the server's last-modified date is 28 April 2026, which are file metadata and not recorded as the publication date. Page 42 says 5N+ announced a 'planned expansion' of germanium recovery and recycling 'supported by a significant financial award from the U.S. government', to increase recovery at its St. George facility 'over the next four years'. The wording is future-tense and states no execution, payment or physical stage. It dates the announcement to 2025 (the Department and the company's release date it to January 2026) and attaches space-qualified solar-cell capacity to the award, which is the subject of the 2024 award."
    }
  ]
}