The thermal energy startups that could benefit from new federal funds

Renewable thermal innovation is on the upswing.

The Department of Energy announced the target of its latest policy to spur forward decarbonization: industrial emissions. 

Industrial processes, which include steel, cement and chemicals, account for about one-third of global emissions. They’re especially tricky to address because clean alternatives aren’t as mature (if they’re available) and the applications are varied and require bespoke solutions, requiring upfront capital and a shift in operations. 

The new fund aims to accelerate development and deployment of technologies. The DOE is allocating $6 billion in incentives available for first-of-a-kind or early-stage commercial scale projects that target the highest emitting industries. Officials project an additional $6 billion in private sector cost share, bringing the total opportunity to $12 billion. 

Read more via GreenBiz here.