Understanding the Inflation Reduction Act’s “once-in-a-generation” investment in infrastructure.
Did you know Industrial emissions produce 30% of America’s CO2 emissions? That’s as much as all of the emissions from transportation combined. In 2022, the US government enacted the Inflation Reduction Act (IRA), which pledged to reduce national carbon emissions by 40% by 2030. Now, in 2023, the US Department of Energy is targeting industrial emissions with a monumental funding opportunity that they’re calling a “once-in-a-generation investment in infrastructure.”
What is the Inflation Reduction Act (IRA) opportunity?
Through the IRA, the Industrial Demonstrations Program will allocate a staggering $5.8 billion toward commercializing technologies to decarbonize the industrial sector. Why? To accelerate US emissions reductions towards net-zero, while also benefiting local communities and promoting wide-spread installation of advanced decarbonization technologies. Selected proposals are expected to receive between $35 million and $500 million in funding, with a 50% government cost share. In the DOE’s own words, this is “an unprecedented opportunity [for the United States] to lead the world in the next industrial revolution.”
Check out Skyven’s webinar discussing this funding opportunity, with Skyven Founder
and CEO Arun Gupta and RTC Executive Director Blaine Collison.
There are three main technology priorities identified in this funding notification.
- To significantly decrease emissions for hard-to-decarbonize industries, such as chemicals, pulp and paper, and food and beverage.
- To increase the energy efficiency of industrial manufacturing.
- To be ready for multi-scale demonstrations and retrofits, meaning that the tech is ready to be installed in operating industrial facilities across the US
What technology can be deployed to fit these priorities?
Skyven’s Steam-generating Heat Pumps.
Skyven’s Steam-generating Heat Pumps are a state-of-the-art technology that can generate header-pressure steam by sourcing low-temperature waste heat from cooling towers, upgrading the temperature and pressure of that heat, and using it to produce boiler-quality steam for direct injection back into your plant’s steam header. These steam-generating heat pumps offset the use of boilers in industrial facilities, which has the potential to completely eliminate on-site CO2 emissions from boilers. Additionally, steam-generating heat pumps display 3x efficiency compared to industry standard electric boilers, and are designed to operate entirely outside of a facility’s existing processes (which means no downtime during installation and maintenance).
|Max Steam Pressure||50 psig||275 psig|
What can you do to partner with Skyven, now?
- Contact the Skyven team today: Learn how we’re helping manufacturers benefit from IRA funding with Skyven’s Industrial Steam-generating Heat Pump.
- Sign a Non-Binding Letter of Intent: This is the first step to partnering with Skyven for the IRA grant.
- Remember May 15, 2023: All letters of intent must be submitted to Skyven by May 15th.
Full grant applications are expected to be due in September 2023.
We’re here to help you access this unique investment in industrial decarbonization.