As per ESG Today, the funding is part of a larger project from the Biden Administration to support the clean transformation of former coal-mine or coal power plants and the communities that inhabit nearby areas.
Two green transition strategies will be supported through the 425 million euros funding, clean energy production and recycling, as well as industrial decarbonization. Thus, existing energy production and recycling facilities will be modernized or expanded, while industrial sites will see important upgrades meant to cut their greenhouse gas emissions output, creating low-carbon products.
As far as eligibility goes, DOE officials say that projects based in communities where coal mines or coal-fired plants closed since 1999 can receive funding, as well as companies that have annual sales of less than 100 million USD and less than 500 employees.
Any thoughts?