Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
US-backed Gaza aid group launches bold new system...
Biden doctor pleads the Fifth in speedy House...
Watchdog backs Rubio’s sanctions on UN official over...
Trump taps Sean Duffy to serve as interim...
Trump cautioned Putin he would ‘bomb the s—‘...
I worked for the most successful third party...
‘Gut check time’: Dissent among Senate GOP ranks...
New book reveals what Obama and ‘conqueror’ Trump...
Trump had very unexpected convo with Obama at...
10 reasons the DOJ and FBI face backlash...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

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

by admin October 25, 2024
October 25, 2024
Biden Admin Pledges US$428 Million for Clean Energy in Ex-Coal Regions

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

previous post
Keith Weiner: Key Gold Price Driver Has Changed — Time to Buy Dips, Not Sell Blips
next post
5 Best-performing Junior Copper Stocks on the TSXV in 2024

You may also like

Metal Hawk Limited (ASX: MHK) – Trading Halt

November 12, 2024

Lundin Mining to Divest Neves-Corvo and Zinkgruvan Operations...

December 10, 2024

Rapid Increases Land Holding by 26 X

June 11, 2025

Noble Minerals Acquires Uranium-Molybdenum Property in Northern Quebec

January 30, 2025

Bitcoin Price Hits All-time High as Trump Wins...

November 7, 2024

SAGA Metals Announces Closing of $700,000 Private Placement...

December 25, 2024

John Feneck: Why Gold is Down, 10+ Mining...

November 19, 2024

Finlay Minerals announces the commencement of the 2025...

June 18, 2025

Bitcoin Well Receives $0.5 Million Judgment Against Rapid...

June 18, 2025

Drilling Commenced at Ferke Gold Project, Cote d’Ivoire

November 12, 2024

Recent Posts

  • US-backed Gaza aid group launches bold new system to deliver food directly to families
  • Biden doctor pleads the Fifth in speedy House closed-door interview
  • Watchdog backs Rubio’s sanctions on UN official over ‘shameful efforts’ targeting US, Israel
  • Trump taps Sean Duffy to serve as interim NASA chief
  • Trump cautioned Putin he would ‘bomb the s—‘ out of Moscow if Russia invaded Ukraine, new book claims

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Categories

    • Business (819)
    • Investing (2,497)
    • Politics (3,095)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.