DARPA Awarded $1.8M to Four Companies to Improve Price Transparency in Critical Materials Markets

The Defense Advanced Research Projects Agency (DARPA) has announced four companies that will be working on developing technology to improve price transparency in the critical materials market. Exiger and S&P Global Commodity Insights are set to work on the first technical area, which involves creating a prototype system for estimating input costs for critical materials. In addition, S&P Global Commodity Insights is joining Charles River Analytics and GE Research in the second technical area to develop a prototype system for forecasting supply and demand for critical commodities.

DARPA’s program manager, Jonathan Doyle, stated that the selected companies will use their expertise in critical materials markets to develop technology that provides accurate and unbiased price, supply, and demand predictions. This technology has the potential to improve decision-making for the U.S. government and investors, as well as enhance resilience in the face of supply chain disruptions.

The Open Price Exploration for National Security (OPEN) program was launched in October 2023 with the goal of improving price transparency in critical materials markets for both producers and buyers. It was created in collaboration with the U.S. Geological Survey (USGS). The program aims to provide stakeholders with greater visibility into prices and availability of key commodities such as rare earth metals, strategic minerals, and precious metals.

The OPEN program is expected to have far-reaching implications across various industries, including defense, energy, mining, finance and manufacturing. It is seen as a significant step towards ensuring fair pricing practices in commodity markets while promoting economic stability and security.

In conclusion, DARPA’s selection of these four companies marks a crucial step towards achieving greater price transparency in critical materials markets. Their expertise and innovative solutions will play an essential role in advancing this goal while benefiting various stakeholders across different sectors.