Dive Temporary:
- The Division of Power will dole out $6.3 billion in funding to speed up decarbonization tasks within the nation’s prime polluting manufacturing sectors.
- Grants will probably be awarded to early-stage business scale tasks in industries together with iron and metal, chemical substances and refining, and meals and beverage, the division introduced on Wednesday.
- The division’s newly created Industrial Demonstrations Program will fund as much as 50% the price of every venture.
Dive Perception:
The announcement is a part of the Biden administration’s effort to scale back emissions within the industrial sector, which make up almost 1 / 4 of the U.S.’s carbon footprint.
“Right this moment’s announcement is yet one more thrilling step within the race to completely decarbonize our heavy industries … whereas guaranteeing America’s manufacturing sector stays sturdy and aggressive,” U.S. Secretary of Power Jennifer M. Granholm stated in a press release.
The Division of Power has supported a slew of unpolluted vitality and manufacturing tasks over the previous 12 months, because of billions of {dollars} in funding made obtainable by the Bipartisan Infrastructure Legislation and Inflation Discount Act.
Funding for the Industrial Demonstrations Program attracts on $430 million from the Bipartisan Infrastructure Legislation and $5.46 billion from the Inflation Discount Act, in line with the division.
The 2 legal guidelines additionally contributed to the division providing $2.8 billion in funding for EV battery manufacturing final fall. The funds are a part of a complete $7 billion in federal cash slated to assist develop a home battery provide chain, because the nation pushes in direction of widespread renewable vitality adoption.
The division can be beginning to help tasks to enhance the sustainability of the EV manufacturing course of amid the inexperienced transition. It not too long ago awarded a $375 million mortgage to battery recycler Li-Cycle for a steel restoration facility utilizing a much less energy-intense course of.