Published January 28, 2022
It would guarantee up to $1 billion in loans to help a Nebraska company scale up production of “clean” hydrogen to convert natural gas into commercial products used in manufacturing and agriculture.
The Biden administration has issued its first clean energy loan guarantee, reviving an Obama-era program that helped launch the country’s first utility-scale wind and solar farms a decade ago but has largely gone dormant in recent years.
The revived loan program is part of President Biden’s efforts to slash planet-warming greenhouse gas emissions in half by 2030, amid legislative gridlock that has stalled a $2 trillion package of social and environmental initiatives. It’s among the tools he can use without new legislation.
The aid to Lincoln-based Monolith Inc. is the program’s first non-nuclear loan guarantee since 2016. Monolith produces “carbon black,” a powdery substance that enhances tires and other rubber products, and hydrogen used in ammonia-based fertilizer. The full article is here.
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