March 31, 2024

Biden Administration Provides Funding To Metals Industry For Decarbonization Projects

The U.S. Department of Energy (DOE) has announced that it will provide up to $6 billion for 33 projects that will reduce industrial greenhouse gas emissions, support well-paying jobs, revitalize industrial communities, and strengthen U.S. manufacturing competitiveness.

The projects will focus on the highest emitting industries, including aluminum, steel, and other metals. Together, the 33 projects are expected to cut more than 14 million metric tons of carbon dioxide (CO2) emissions each year, an amount equivalent to the annual emissions of three million gasoline-powered cars. The DOE noted, “Many of the projects will deploy first-in-the-nation emissions-reducing technologies that have the potential for sector-wide adoption and transformation, multiplying the magnitude of the emissions cuts and supporting the future of U.S. manufacturing.”

The six selected iron and steel projects plan to demonstrate emerging technologies, including some of the world’s first clean hydrogen-fueled direct reduced ironmaking facilities, which can eliminate the vast majority of steelmaking emissions. “The projects will help decarbonize iron and steelmaking and enable the industry to phase out more traditional carbon-intensive production methods that rely on coal,” the DOE said.

The five selected aluminum projects include a major capital injection to decarbonize and revitalize the U.S. primary aluminum industry, along with world-leading recycling approaches for both aluminum and copper. “These investments aim to improve U.S. industry’s competitiveness and efficiency while simultaneously decarbonizing and onshoring supply chains for materials critical for defense and energy sectors,” the DOE said.

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