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Biden Admin Offers $6B To Decarbonize Industry, Steel Included

Written by Michael Cowden

March 9, 2023

The Biden administration has announced a plan to provide approximately $6 billion to speed up the decarbonization of US industry.

The program, administered by the US Department of Energy, will target carbon emissions associated with the production of iron and steel, aluminum, cement, and concrete.

It is part the administration’s goal of creating a “net-zero economy” by 2050, according to a March 8 press release.

“Today’s announcement is yet another exciting step in the race to fully decarbonize our heavy industries, and will help drastically reduce harmful pollution while ensuring America’s manufacturing sector is strong and competitive,” US Energy Secretary Jennifer M. Granholm said in a statement.

The Energy Department will focus on first-of-a-kind or early-stage commercial-scale projects. Concept papers are due by April 21 and full applications for funding by Aug. 4.

By Michael Cowden, michael@steelmarketupdate.com

Michael Cowden

Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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