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U.S. Department of Energy Invests in Carbon-Capture Technologies
Industry Segment: Metals & Minerals | Word Count: 840 Words
SUGAR LAND--September 14, 2020--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. federal government is stepping up to the plate in regard to testing and researching ways to reduce carbon emissions. The U.S. Department of Energy (DOE) recently announced it will provide $72 million in funding for research and development to help reduce emissions. The DOE will provide $51 million for research and development and engineering-scale testing of carbon-capture at nine industrial sites, and $21 million for novel research and development of the capture of carbon-dioxide directly from the atmosphere, known as "direct air capture." The industrial sites included in the $51 million in funding include a range of sectors, including cement production, steel making, power generation and more.
Companies featured: ArcelorMittal (NYSE:MT), Cemex Incorporated (NYSE:CX), Xcel Energy (NASDAQ:XEL), Chevron Corporation (NYSE:CVX), NRG Energy Incorporated (NYSE:NRG)
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