Biden Administration Announces $6 Billion Green Technology Fund

The Biden Administration has pledged $6 billion to support green technology projects in heavy industries such as steel, cement, chemicals, and aluminum to drastically cut greenhouse gas emissions. The funding, from the Department of Energy, will be allocated to 33 projects in 20 states. These initiatives include replacing coal-consuming blast furnaces with hydrogen-ready plants, installing low-emission furnaces, and building facilities to reduce CO2 emissions. This is the largest single investment in U.S. history to decarbonize the industrial sector.