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Cleveland-Cliffs secures $500 million in support from the U.S. Department of Energy as part of a $1 billion investment in Middletown Works.

PUBLIC · CLFAug 21, 2026•about 4 hours ago

Amount Raised

$500 Million

Round Type

Grant

ClevelandManufacturingMiningPrecious MetalsMineral

Investors

U.S. Department Of Energy

Description

Cleveland-Cliffs Inc. announced a framework with the U.S. Department of Energy to finalize negotiations for a $1 billion investment in Middletown Works. The funding will be shared equally between Cleveland-Cliffs and the DOE

Company Information

Company

Cleveland-Cliffs

Location

Cleveland, Ohio, United States

About

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

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