The US Department of Energy (DOE) has announced the allocation of up to US$6bn on 33 projects to decarbonise energy-intensive industries. The awarded projects are set to receive US$489m from the Bipartisan Infrastructure Law and US$5.47bn from the Inflation Reduction Act (IRA), for a total investment of US$20bn, when including the companies' share of the costs.
The funding has been awarded to a total of 33 projects, including seven chemicals and refining projects, six cement and concrete projects, six iron and steel projects, five aluminum and metals projects, three food and beverage projects, three glass projects, two process heat-focused projects, and one pulp and paper project. The projects will focus on the highest emitting industries where decarbonization technologies will have the greatest impact. By leveraging different solutions such as energy efficiency, electrification, and alternative fuels like clean hydrogen, the projects are expected to cut the equivalent to 14 MtCO2 emissions per year.
The US targets a 50-52% reduction in GHG emissions in 2030 compared to 2005 levels.
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