U.S. Backs $6 Billion in Decarbonization at Metal, Chemical Plants

March 26, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Department of Energy (DOE) announced Monday up to $6 billion for 33 projects across more than 20 states to decarbonize energy-intensive areas of the U.S. economy--including the Metals & Minerals and Chemical Processing industries--using funds from the 2021 Infrastructure Law and 2022 Inflation Reduction Act. Among the companies set to implement qualifying carbon-reduction projects are Cleveland-Cliffs (NYSE:CLF) (Cleveland, Ohio), Century Aluminum Incorporated (NASDAQ:CENX) (Chicago, Illinois), Constellium SE (NYSE:CSTM) and Eastman Chemical (NYSE:EMN) (Kingsport, Tennessee).

Industrial Info is tracking progress at these and other affected facilities. "The projects [receiving funds] will focus on the highest-emitting industries where decarbonization technologies will have the greatest impact, including aluminum and other metals, cement and concrete, chemicals and refining, iron and steel, and more," the DOE said in a press release. U.S. Energy Secretary Jennifer Granholm planned to unveil the awards during a visit to Cleveland-Cliffs' Steel Works Plant in Middletown, Ohio.

Other companies featured: The Kraft Heinz Company (NASDAQ:KHC)