Popular
Fed Watch: Key Bullish Patterns in the S&P...
Three Charts to Watch for an “All Clear”...
Use This Multi-Timeframe MACD Signal for Precision Trades
The Unpredictable Stock Market: How to Make Sense...
Crypto Market Recap: New Hampshire Launches First State...
China’s Xi hails ‘stable and resilient’ Russia ties...
India and Pakistan are both claiming victory after...
UK’s King Charles lays wreath to mark 80th...
Israeli military extends detention of Palestinian journalist despite...
Israel vows to ‘defend ourselves alone’ after Trump...
Fed Watch: Key Bullish Patterns in the S&P...
Three Charts to Watch for an “All Clear”...
Use This Multi-Timeframe MACD Signal for Precision Trades
The Unpredictable Stock Market: How to Make Sense...
Crypto Market Recap: New Hampshire Launches First State...
China’s Xi hails ‘stable and resilient’ Russia ties...
India and Pakistan are both claiming victory after...
UK’s King Charles lays wreath to mark 80th...
Israeli military extends detention of Palestinian journalist despite...
Israel vows to ‘defend ourselves alone’ after Trump...
  • Home
HotInvestingPilots.com
  • Politics
  • World News
  • Stock
  • Investing
Investing

Biden Admin Pledges US$428 Million for Clean Energy in Ex-Coal Regions

by October 25, 2024
written by October 25, 2024

The Biden administration announced on Tuesday (October 22) that it has allotted US$428 million to accelerate clean energy manufacturing in former coal communities located across the US.

The US Department of Energy (DOE) selected 14 projects to receive funds, saying that the money will be distributed among 15 communities that have historically been dependent on coal production.

The move is part of the broader Investing in America agenda, which seeks to bolster the US economy by creating jobs, addressing energy supply chain vulnerabilities and transitioning to cleaner energy sources.

The projects, led by small and medium-sized businesses, are intended to transform regions that were once reliant on coal by supporting clean energy industries. The DOE’s Office of Manufacturing and Energy Supply Chains selected the projects to stimulate private sector investment and create over 1,900 jobs in these coal communities.

According to US Secretary of Energy Jennifer Granholm, this initiative leverages the expertise and skills of former members of the coal workforce, many of whom have powered the nation for decades.

“By leveraging the know-how and skillset of the former coal workforce, we are strengthening our national security while helping advance forward-facing technologies and revitalize communities across the nation,” she added.

Combined, these investments are geared at ensuring that the US remains competitive in the growing global market for clean energy, which is projected to reach US$23 trillion by 2030.

The projects range from retrofitting facilities to produce key components for renewable energy, such as lithium-ion batteries and high-efficiency motors, to developing low-carbon building materials from recycled industrial waste.

Several of these projects are expected to make immediate contributions to both local economies and the clean energy sector, addressing supply chain gaps and increasing US manufacturing capacity.

One example is a US$24.9 million amount awarded to Anthro Energy in Louisville, Kentucky. The company will retrofit a facility to produce advanced electrolyte for use in lithium-ion batteries, creating around 115 permanent jobs.

Another project, led by CleanFiber, will establish two separate production facilities in Chehalis, Washington, and Ennis, Texas, to produce advanced cellulose insulation from recycled cardboard. These facilities are projected to weatherize over 20,000 homes annually and provide full-time employment for 80 workers.

In Erie, Michigan, TS Conductor has received US$28.2 million to set up a factory that will produce high-voltage direct-current conductors. This facility will create more than 425 construction jobs and over 160 operational roles.

In Tennessee, Hempitecture will receive US$8.42 million to create a facility for processing industrial hemp into sustainable building materials. Other notable projects include an US$80 million award to MetOx International to develop an advanced superconductor manufacturing facility in the Southeast US, and a US$52.6 million award to Terra CO2 Holdings to build a new facility in Magna, Utah, for producing low-emission cement alternatives.

The DOE’s announcement is seen as a commitment in the US’ shift toward renewable energy, as it simultaneously focuses on decarbonizing the energy sector and revitalizing industrial communities.

The investments are also aligned with the broader goals of the Biden administration, which focus on reducing reliance on foreign energy sources and increasing national security.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0 comment
0
FacebookTwitterPinterestEmail

previous post
USGS: Smackover Formation Lithium Could More Than Meet Global 2030 Demand
next post
Lithium Universe Limited (ASX: LU7) – Trading Halt

Related Articles

Copper Crunch: China’s Stockpiles Depleting, US Demand Rising

May 7, 2025

Denarius Metals Announces Binding Letter of Intent with...

May 7, 2025

Quimbaya Gold and Denarius Metals Partner to Formalize...

May 7, 2025

Heritage Mining Announces Encouraging Gold Results from New...

May 7, 2025

Radiopharm Theranostics to Participate in the D. Boral...

May 7, 2025

Crypto Market Recap: New Hampshire Launches First State...

May 8, 2025

SAGA Metals Extends Claims at the Radar Ti-V-Fe...

May 8, 2025

Group Eleven Intersects 12.0m of 2.30% Cu and...

May 8, 2025

Los Andes Copper at 121 Mining Investment London

May 8, 2025

Bold Ventures to Present at Metals Investor Forum...

May 8, 2025

Copper Crunch: China’s Stockpiles Depleting, US Demand Rising

May 7, 2025

Denarius Metals Announces Binding Letter of Intent with...

May 7, 2025

Quimbaya Gold and Denarius Metals Partner to Formalize...

May 7, 2025

Heritage Mining Announces Encouraging Gold Results from New...

May 7, 2025

Radiopharm Theranostics to Participate in the D. Boral...

May 7, 2025

Crypto Market Recap: New Hampshire Launches First State...

May 8, 2025

SAGA Metals Extends Claims at the Radar Ti-V-Fe...

May 8, 2025

Group Eleven Intersects 12.0m of 2.30% Cu and...

May 8, 2025

Los Andes Copper at 121 Mining Investment London

May 8, 2025

Bold Ventures to Present at Metals Investor Forum...

May 8, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • China’s Xi hails ‘stable and resilient’ Russia ties as he shows solidarity with Putin in Moscow

    May 8, 2025
  • India and Pakistan are both claiming victory after this week’s clashes. Will cooler heads prevail?

    May 8, 2025
  • UK’s King Charles lays wreath to mark 80th anniversary of VE Day

    May 8, 2025
  • Israeli military extends detention of Palestinian journalist despite acknowledging lack of evidence

    May 8, 2025
  • Israel vows to ‘defend ourselves alone’ after Trump strikes truce with Houthis

    May 8, 2025
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 hotinvestingpilots.com | All Rights Reserved

HotInvestingPilots.com
  • Politics
  • World News
  • Stock
  • Investing