🍎 🍕 Less apples, more pizza 🤔 Have you seen Buffett’s portfolio recently?Explore for Free

US grants $428 million to clean energy projects in communities that relied on coal

Published 2024-10-22, 09:11 a/m
© Reuters. FILE PHOTO: Residents walk by power grid towers at Bair Island State Marine Park in Redwood City, California, United States, January 26, 2022. REUTERS/Carlos Barria/File Photo
NG
-

By Timothy Gardner

WASHINGTON (Reuters) - The U.S. on Tuesday announced $428 million in grants to build or expand battery manufacturing and recycling plants and other clean energy manufacturing in communities that have been hit hard by recent closures of coal mines and power plants. 

WHY IT'S IMPORTANT

The administration of President Joe Biden and Vice President Kamala Harris, the Democratic candidate in the Nov. 5 election, has pledged to support communities that are struggling as the country reduces the burning of coal to generate power in an attempt to curb climate change. Many of the projects are in states that have leaned Republican in recent elections or are battleground states. 

KEY QUOTE

"These are communities that powered America for literally decades, and this administration, the Biden-Harris administration, believes they're exactly the right folks in the right communities to lead the clean energy transition for decades to come," Deputy U.S. Energy Secretary David Turk told reporters in a call. 

BY THE NUMBERS

The 14 projects span 12 states including, Kentucky, Utah, West Virginia, Texas and Pennsylvania. Turk said the grants, funded by the 2021 bipartisan infrastructure law, will bring in about another $500 million from the private sector and create more than 1,900 high paying jobs. 

PROJECT EXAMPLES

© Reuters. FILE PHOTO: Residents walk by power grid towers at Bair Island State Marine Park in Redwood City, California, United States, January 26, 2022. REUTERS/Carlos Barria/File Photo

One project in Coraopolis, Pennsylvania will get more than $87 million to Mainspring energy for the production of 1,000 linear generators per year. The technology, designed to support utilities, data centers and micro-grids, can generate power from burning natural gas, hydrogen and biogas, or gas generated from livestock manure.

Another project called Sparkz Inc in Bridgeport, West Virginia got $9.8 million to create the first-of-its-kind battery-grade iron phosphate plant in the United States. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.