First Three Act of 2021
This bill requires the Advanced Manufacturing Office of the Department of Energy to establish a program to provide grants or loan guarantees for certain innovative technology projects at industrial plants. The technology must (1) be technically viable at pilot scale and ready for commercial-scale implementation, (2) be able to reduce the energy use or greenhouse gas emissions, and (3) have the potential to reduce annual U.S. industrial energy use or greenhouse gas emissions by at least 1% once the technology is fully implemented at appropriate industrial plants in the United States.
To provide support for the first three commercial-scale implementations 
               of transformative industrial technologies.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``First Three Act of 2021''.

SEC. 2. SUPPORT FOR THE FIRST THREE COMMERCIAL-SCALE IMPLEMENTATIONS OF 
              TRANSFORMATIVE INDUSTRIAL TECHNOLOGIES.

    (a) In General.--Subject to the availability of appropriations, the 
Secretary, acting through the Director of the Advanced Manufacturing 
Office of the Department of Energy, shall establish and carry out a 
program under which the Secretary provides grants and loan guarantees 
to eligible entities to carry out eligible projects.
    (b) Applications.--
            (1) In general.--To apply for a grant or loan guarantee 
        under the program, an eligible entity shall submit to the 
        Secretary an application at such time, in such manner, and 
        containing such information as the Secretary may require.
            (2) Selection.--In evaluating applications submitted under 
        paragraph (1), the Secretary shall select applications that 
        will result in the greatest--
                    (A) improvement to the competitiveness of United 
                States industry in global markets;
                    (B) reduction in energy use; and
                    (C) reduction in greenhouse gas emissions.
            (3) Consultation.--In evaluating applications submitted 
        under paragraph (1), the Secretary shall solicit input from 
        outside technical and industry experts on the specific industry 
        sectors in which eligible technologies would be implemented.
    (c) Grants and Loan Guarantees.--
            (1) In general.--In carrying out the program, the Secretary 
        may not provide grants or loan guarantees to carry out more 
        than three eligible projects for any category of eligible 
        technology.
            (2) Grant amounts.--The amounts of the grants that may be 
        provided to carry out eligible projects for each category of 
        eligible technology shall be not more than the following:
                    (A) 60 percent of the total eligible project costs 
                for the first eligible project for the category of 
                eligible technology.
                    (B) 45 percent of the total eligible project costs 
                for the second eligible project for the category of 
                eligible technology.
                    (C) 30 percent of the total eligible project costs 
                for the third eligible project for the category of 
                eligible technology.
            (3) Loan guarantee amounts.--
                    (A) In general.--In carrying out the program, the 
                Secretary may not provide a loan guarantee for an 
                amount that is greater than 80 percent of the 
                applicable eligible project costs.
                    (B) Grant and loan guarantee.--In any case in which 
                an eligible entity is provided a grant and a loan 
                guarantee under the program, such loan guarantee may 
                not exceed the amount that is equal to 80 percent of 
                the amount that is equal to the difference between--
                            (i) the eligible project cost; and
                            (ii) the amount of the grant.
            (4) Project milestones.--The Secretary shall work with the 
        grant or loan guarantee recipient to develop project milestones 
        and shall issue payments after the recipient demonstrates that 
        it has reached such milestones.
    (d) Monitoring and Reporting.--
            (1) In general.--The Secretary shall annually submit to 
        Congress a report on how grants and loan guarantees provided 
        under the program were used.
            (2) Proprietary and competitive information.--Each report 
        submitted under paragraph (1) shall exclude any proprietary or 
        competitive information relating to eligible entities that were 
        provided a grant or loan guarantee, or eligible technologies 
        that were implemented, under the program.
    (e) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out this section $500,000,000 for fiscal year 
2022 and $1,000,000,000 for each of fiscal years 2023 through 2031, to 
remain available until expended.
    (f) Definitions.--In this section:
            (1) Eligible entity.--The term ``eligible entity'' means 
        any of the following entities, including a consortium or 
        partnership of such entities:
                    (A) An owner of an industrial plant at which an 
                eligible technology would be implemented.
                    (B) A provider that--
                            (i) manufactures an eligible technology; or
                            (ii) implements or integrates an eligible 
                        technology at an industrial plant.
                    (C) Another entity involved in the implementation 
                of the eligible technology at an industrial plant.
            (2) Eligible project.--The term ``eligible project'' means 
        the implementation of an eligible technology at an industrial 
        plant.
            (3) Eligible project costs.--The term ``eligible project 
        costs'' includes any capital, installation, engineering, 
        construction, and permitting costs related to carrying out an 
        eligible project.
            (4) Eligible technology.--The term ``eligible technology'' 
        means, as determined by the Secretary, any technology that--
                    (A) is an innovative technology described in 
                section 454(b)(1) of the Energy Independence and 
                Security Act of 2007 (42 U.S.C. 17113(b)(1));
                    (B) is demonstrated to be technically viable at 
                pilot scale and ready for commercial-scale 
                implementation;
                    (C) is able to reduce the energy use or greenhouse 
                gas emissions of the process with respect to which the 
                eligible technology is implemented by at least 20 
                percent relative to the current technology; and
                    (D) has the potential to reduce annual United 
                States industrial energy use or greenhouse gas 
                emissions by at least 1 percent once the eligible 
                technology is fully implemented at appropriate 
                industrial plants in the United States.
            (5) Program.--The term ``program'' means the program 
        established under subsection (a).
            (6) Secretary.--The term ``Secretary'' means the Secretary 
        of Energy.
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First Three Act of 2021
To provide support for the first three commercial-scale implementations of transformative industrial technologies.
First Three Act of 2021
Rep. Castor, Kathy