The Biden-Harris Administration, through the US Department of Energy (DOE), has announced approximately $ 6Bin funding to accelerate decarbonization projects in energy-intensive industries and provide American manufacturers a competitive advantage in the emerging global clean energy economy. Funded by President Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act, the Industrial Demonstrations Program will focus on the highest emitting industries where decarbonization technologies will have the greatest impact, such as iron and steel, aluminum, cement and concrete, and other energy-intensive industrial processes. "Today's announcement marks a significant milestone in our journey towards achieving full decarbonization of heavy industries. By drastically reducing harmful pollution, we're not only protecting our environment, but also strengthening America's manufacturing sector, making it more competitive and sustainable," commented Ms. Jennifer M Granholm, US Secretary of Energy. "Thanks to President Biden's visionary investments in innovation and clean energy, American industries are now able to seize new economic opportunities while setting global standards in clean manufacturing technologies."This funding announcement represents more than a $ 12B opportunity to dramatically reduce industrial emissions, which includes $ 430M from the Bipartisan Infrastructure Law and $ 5.46B from the Inflation Reduction Act combined with more than $ 6B in projected private sector cost share. To maximize the transformative potential of these funds, DOE will prioritize a portfolio of projects that⦁ Accelerate industry towards deep decarbonization; ⦁ Spur follow-on investments for widespread adoption of the demonstrated technologies; ⦁ Enable new markets for cleaner products; and,⦁ Benefit local communities.
The Biden-Harris Administration, through the US Department of Energy (DOE), has announced approximately $ 6Bin funding to accelerate decarbonization projects in energy-intensive industries and provide American manufacturers a competitive advantage in the emerging global clean energy economy. Funded by President Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act, the Industrial Demonstrations Program will focus on the highest emitting industries where decarbonization technologies will have the greatest impact, such as iron and steel, aluminum, cement and concrete, and other energy-intensive industrial processes. "Today's announcement marks a significant milestone in our journey towards achieving full decarbonization of heavy industries. By drastically reducing harmful pollution, we're not only protecting our environment, but also strengthening America's manufacturing sector, making it more competitive and sustainable," commented Ms. Jennifer M Granholm, US Secretary of Energy. "Thanks to President Biden's visionary investments in innovation and clean energy, American industries are now able to seize new economic opportunities while setting global standards in clean manufacturing technologies."This funding announcement represents more than a $ 12B opportunity to dramatically reduce industrial emissions, which includes $ 430M from the Bipartisan Infrastructure Law and $ 5.46B from the Inflation Reduction Act combined with more than $ 6B in projected private sector cost share. To maximize the transformative potential of these funds, DOE will prioritize a portfolio of projects that⦁ Accelerate industry towards deep decarbonization; ⦁ Spur follow-on investments for widespread adoption of the demonstrated technologies; ⦁ Enable new markets for cleaner products; and,⦁ Benefit local communities.
