The Biden administration announced billions of dollars of funding for initiatives meant to reduce carbon emissions in the manufacturing sector on Monday.
The Department of Energy (DOE) is giving out as much as $6 billion to 33 different projects in 20 states designed to reduce emissions generated by industrial production, with some of the nation’s largest industrial corporations named as recipients, according to a DOE press release. The supported projects are to be involved in manufacturing metals, cement, chemicals, food products, glass, iron and paper.
Dow Chemical Company, one of the largest chemical companies in the U.S., is slated to receive up to $95 million to build a facility near the Gulf of Mexico that would capture 100,000 tons of carbon each year and use that carbon to produce components for electric vehicle (EV) batteries, according to the DOE’s description of the envisioned project. (RELATED: Energy Department Allowed Hundreds Of Employees With Stock In Related Companies To Keep Shares: REPORT)
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The DOE also announced that it is awarding SSAB, a major steel producer based in Finland, up to $500 million to facilitate “green hydrogen-based steel production” at factories in Iowa and Mississippi. The Biden administration is giving the Cleveland-Cliffs Steel Corporation up to $500 million to pursue similar ends at its facility in Middletown, Ohio.
Another selected awardee is Unilever, one of the world’s largest consumer goods companies, which will use as much as nearly $21 million from the DOE to decarbonize ice cream production at four different sites across the country, according to the DOE. Specifically, Unilever will use the funds to switch out natural gas boilers with electric models and deploy heat pumps at facilities that produce brands like Ben and Jerry’s, Breyers and Klondike.
Unilever is working to spin off its ice cream division into its own business in an effort to save about $870 million over the next three years, according to The Wall Street Journal.
Kraft-Heinz, another massive corporation, is also in line to receive nearly $171 million in DOE funds to bring down emissions generated by its operations at ten facilities across the U.S. The company will use the funds to buy and implement technologies like heat pumps, electric boilers and solar panels.
The funding for the projects comes from the Inflation Reduction Act (IRA), President Joe Biden’s signature climate bill, and the bipartisan infrastructure law of 2021, according to the DOE. The funds announced Monday are part of a wider push by the Biden administration to reduce emissions in nearly every corner of the American economy to fight climate change.
“Spurring on the next generation of decarbonization technologies in key industries like steel, paper, concrete, and glass will keep America the most competitive nation on Earth,” Secretary of Energy Jennifer Granholm said of the funding. “Thanks to President Biden’s industrial strategy, DOE is making the largest investment in industrial decarbonization in the history of the United States. These investments will slash emissions from these difficult-to-decarbonize sectors and ensure American businesses and American workers remain at the forefront of the global economy.”
The DOE did not respond immediately to a request for comment.
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