DOE Offering $6 Billion From Infrastructure Bill to Fund to Decarbonization of Industrial Sector — OPIS

The U.S. government will provide up to $6 billion for 33 projects designed to cut carbon emissions from hard-to-abate industries, the Department of Energy said on Monday, calling it the largest such investment in the country's history.

The money will come from funds authorized by the 2021 Bipartisan Infrastructure Law and Inflation Reduction Act, DOE said.

The projects will focus on industries such as metals, cement and concrete, chemicals and refining, pulp and paper and iron and steel across 20 states.

DOE estimates the projects will help cut more than 14 million metric tons of carbon dioxide emissions each year.

Secretary of Energy Jennifer Granholm said the investment will "ensure American businesses and American workers remain at the forefront of the global economy."

The industrial sector accounts for nearly one-third of total U.S. greenhouse gas emissions, the department said.

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--Reporting by Abdul Latheef, alatheef@opisnet.com; Editing by Jeff Barber, jbarber@opisnet.com

(END) Dow Jones Newswires

March 25, 2024 17:15 ET (21:15 GMT)

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