In the bid to decarbonize energy-intensive industries, particularly steel and aluminum, the US Department of Energy (DOE) revealed a substantial funding allocation of up to $6 billion for 33 projects. The chosen initiatives aim to decarbonize energy-intensive industries, cut industrial greenhouse gas (GHG) emissions, bolster union jobs, revitalize industrial communities, and enhance the nation’s manufacturing competitiveness.
Powering Progress: DOE’s Decarbonization Push
The funding is supported by President Biden’s Bipartisan Infrastructure Law ($489 million) and Inflation Reduction Act ($5.47 billion). It will help scale up emerging industrial decarbonization technologies crucial for the current administration’s climate and domestic manufacturing objectives.
Collectively, the projects could mitigate over 14 million metric tons of carbon dioxide (CO2) emissions annually. That’s equal to the yearly emissions of 3 million gasoline-powered cars.
The industrial sector accounts for nearly ⅓ of the nation’s overall GHG emissions. Thus, the transformative federal investment will be matched by the selected projects to leverage over $20 billion in total funding.
The projects could potentially reduce carbon emissions by an average of 77%. Managed by DOE’s Office of Clean Energy Demonstrations (OCED), the projects unveiled today under the Industrial Demonstrations Program aim to fortify America’s manufacturing and industrial competitiveness.
The chosen projects for award negotiations include a range of difficult-to-decarbonize industries, with representation from various sectors, including the following breakdown:
- 7 projects in chemicals and refining,
- 6 projects in cement and concrete,
- 6 projects in iron and steel,
- 5 projects in aluminum and metals,
- 3 projects in food and beverage,
- 3 projects in glass,
- 2 projects focused on process heat, and
- 1 project in pulp and paper.
Forging a Green Steel Sector
The decarbonization funding announced by the US DOE has the potential to catalyze a transformative shift towards “green” steel production in the United States, according to industry leaders and observers.
The US steel sector has made significant strides in producing recycled steel through electric arc furnace (EAF) mills. It accounts for over 70% of the country’s steel output. However, there’s growing recognition of the need to embrace cleaner primary steel production methods.
Last year, steel giant ArcelorMittal and Microsoft backed MIT spinout company Boston Metal to make clean steel. The startup employs a unique electrolysis process to manufacture green steel and help decarbonize the industry.
Globally, there’s a rapid expansion of EAF production as steelmakers respond to increasing demand for cleaner materials and efforts to mitigate GHG emissions. In this context, countries, especially in Europe, are investing in technologies aimed at reducing emissions in primary steelmaking.
A nonprofit organization focused on decarbonizing steel and other industries highlighted the significance of investing in green ironmaking technologies. These technologies involve transitioning away from coal-based furnaces traditionally used in iron ore processing, thereby lowering emissions and enhancing competitiveness.
Below is a sample process flow in producing green pig iron. It’s from a Nevada-based green pig iron company Magnum.
There’s a huge potential for substantial emissions reductions both domestically and globally through the adoption of these technologies. By showing the feasibility of green ironmaking technologies in the US, there is an opportunity to deploy them worldwide, leading to reduced emissions on a global scale.
Ironclad Solutions: Decarbonization Projects in Focus
In the iron and steel sector, 6 projects have been earmarked for potential investment totaling $1.5 billion. They have the potential to prevent around 2.5 million metric tons of CO2 emissions annually.
One notable project involves Sweden’s SSAB AB, which is in negotiations for up to $500 million to establish the world’s first commercial-scale facility utilizing HYBRIT technology in Mississippi. This innovative technology uses green hydrogen to power ironmaking processes, offering significant emissions reductions.
Cleveland-Cliffs is also in discussions for up to $500 million to transition its Middletown Works facility in Ohio from a coal-based blast furnace to a hydrogen-ready direct reduced iron furnace, accompanied by the installation of electric mantling furnaces.
Furthermore, Vale USA has been selected for potential funding of up to $282.9 million to establish a pioneering production facility for low-emission iron ore briquettes on the US Gulf Coast, providing a sustainable alternative to traditional iron ore pellets.
In the aluminum and nonferrous metals sector, 5 projects are eligible for over $900 million in federal investment. They are aimed at reducing around 4 million metric tons of CO2 annually.
Funding the Future
The potential financial support from DOE’s decarbonization funding serves to mitigate some of the risks associated with the significant investment required for steelmakers to decarbonize. Hilary Lewis, steel director with Industrious Labs noted in an interview the importance of this federal support, saying that:
“The role of government is significant here and it is significant in Europe as well, and it needs to be a partnership with industry that will put forward innovative, ambitious projects that will actually get us to near-zero [emissions].”
The DOE emphasized that the selection for award negotiations doesn’t guarantee the issuance or the provision of its decarbonization funding. The duration of the negotiation phase and the timeline for final decarbonization funding decisions weren’t yet specified.
- Here’s the DOE’s IDP website to find the details about each of the chosen projects.
The DOE funding presents a critical opportunity to accelerate the transition towards green steel production in the US. It can position the country as a leader in sustainable steelmaking practices and contribute to broader efforts to combat climate change and reduce environmental impact.
The post US DOE to Shell Out $6B to Decarbonize Heavy Industries appeared first on Carbon Credits.
The uranium price has continued its upward trajectory this week, climbing to 85.67 USD. This represents a solid 2.19% gain over the last seven days and extends the year-to-date performance to a 5.09% increase. After a period of consolidation, the market is witnessing renewed momentum driven by the converging forces of a widening supply deficit and escalating energy demands from the technology sector.
Uranium Price
Market Drivers for the Uranium Price
The primary catalyst behind the recent movement is the intensifying focus on nuclear energy as a critical solution for powering artificial intelligence (AI) infrastructure. As data centers expand globally, tech giants are increasingly seeking reliable, carbon-free baseload power, prompting a reassessment of long-term demand. Recent reports indicate that major utilities are accelerating their contracting cycles to secure fuel inventory, anticipating a squeeze as new reactors come online in Asia and dormant facilities restart in Japan.
On the supply side, geopolitical friction continues to tighten the market. Persistent restrictions on Russian nuclear fuel imports have forced Western utilities to pivot toward alternative suppliers, creating bottlenecks in conversion and enrichment services. Additionally, recent activity from physical funds—most notably a reported purchase of 100,000 pounds of yellowcake by Sprott—has removed spot inventory, adding immediate upward pressure to the uranium price.
Technical Outlook
Technically, uranium has firmly established support above the psychological $80 level. The breakout above $85 signals bullish sentiment, with analysts eyeing the $90 mark as the next key resistance zone. The 30-day movement of 8.27% suggests that buyers are stepping in aggressively on dips, reinforcing a strong uptrend. If the price can sustain a close above $86, it may open the door for a retest of the cyclical highs seen in previous years. However, investors should remain attentive to upcoming production reports from major miners like Kazatomprom and Cameco, which could introduce short-term volatility.
The post Uranium Price Today: AI Power Demand and Supply Deficits Fuel Rally appeared first on Carbon Credits.
The Lithium Price surged to a fresh two-year high today, closing at 170,999.81 CNY per tonne. This marks a significant 7.55% gain over the last seven days and extends a powerful year-to-date rally of 44.38%. After a prolonged period of consolidation, the battery metal has broken critical resistance levels, driven by a convergence of aggressive policy shifts in China and renewed supply constraints.
Lithium Price
Market Drivers for the Lithium Price Rally
The primary catalyst for this week’s 7.55% move is the sudden tightening of supply in China’s Jiangxi province. Authorities have canceled 27 mining permits in the hub as part of an environmental "anti-involution" campaign, effectively removing significant feedstock from the market. This supply shock coincided with Beijing’s announcement that export tax rebates for battery products will be cut from 9% to 6% starting in April. This policy shift has triggered a massive "front-running" effect, with manufacturers rushing to secure raw materials and export finished goods before the deadline.
Adding fuel to the fire, industry giant CATL reportedly placed a massive $17.2 billion order for cathode materials earlier this week. This demand signal has forced downstream players to cover spot positions aggressively, exacerbating the squeeze created by the Jiangxi permit cancellations.
Technical Outlook
Technically, the Lithium Price has staged a decisive breakout above the psychological 170,000 CNY level. The 30-day movement of 71.86% suggests the market is in a steep markup phase, fueled by short covering and panic buying. Momentum indicators are currently in overbought territory, but the fundamental supply deficits suggest support remains strong at the 155,000 CNY breakout zone. If the rally sustains, the next key resistance target lies near 200,000 CNY, a level not seen since the market began its correction two years ago.
The post Lithium Price Today: China’s Supply Crackdown and Tax Overhaul Fuel 7% Rally appeared first on Carbon Credits.
The Lithium price continued its explosive start to 2026, surging to 170,999.81 CNY per tonne on Friday. The battery metal has posted a remarkable 7.55% gain over the last seven days alone, extending a massive 71.86% rally over the past month. Year-to-date, lithium prices are up 44.38%, marking a definitive reversal from the surpluses that plagued the market in previous years.
Lithium Price
Market Drivers
Two primary factors are fueling the current rally: a surge in utility-scale energy storage demand and sudden supply constraints in China’s mining hubs.
- Energy Storage Demand Spike: While EV sales remain steady, the demand for lithium iron phosphate (LFP) batteries in energy storage systems (ESS) has outperformed expectations. Analysts forecast a 55% growth in ESS installations for 2026, driven by Beijing’s mandate to double EV charging capacity and grid storage infrastructure by 2027.
- Jiangxi Supply Crunch: On the supply side, Chinese authorities recently canceled 27 mining permits in the lithium hub of Jiangxi as part of an environmental crackdown. This follows the suspension of operations at CATL’s Jianxiawo mine, effectively removing significant monthly tonnage from the market just as downstream battery makers rush to restock ahead of reduced export rebates.
Technical Outlook
Technically, the Lithium price has decisively broken through the psychological resistance level of 150,000 CNY. The steep vertical ascent suggests intense buying pressure, likely exacerbated by short covering from traders who were positioned for a surplus. With the price now firmly establishing support above 160,000 CNY, market participants are eyeing the 200,000 CNY level as the next major target. However, the Relative Strength Index (RSI) indicates the metal is in overbought territory, suggesting potential volatility in the short term as the market digests these rapid gains.
The post Lithium Price Today: Energy Storage Boom and Supply Cuts Ignite 71% Rally appeared first on Carbon Credits.
Uranium Price Today: AI Power Demand and Supply Deficits Fuel Rally
Lithium Price Today: China’s Supply Crackdown and Tax Overhaul Fuel 7% Rally
Lithium Price Today: Energy Storage Boom and Supply Cuts Ignite 71% Rally
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