Ørsted Selected by U.S. Department of Energy to Receive Industrial Decarbonization Funding
HOUSTON, March 25, 2024 /PRNewswire/ -- Ørsted, a leading U.S. clean energy developer, announced today it has been selected by the Department of Energy (DOE) Office of Clean Energy Demonstrations to begin award negotiations for up to $100 million in federal funding to construct a groundbreaking Power-to-X facility, called Star e-Methanol, along the Texas Gulf Coast.
- Ørsted's project was selected as one of 33 projects across more than 20 states to demonstrate commercial-scale decarbonization solutions needed to move energy-intensive industries toward net-zero.
- "Beyond decarbonization, Ørsted's investments in Texas and in the e-fuels industry will create new American jobs and deliver economic value and benefits to local communities."
- Ørsted is leveraging its renewable power portfolio to produce green hydrogen and e-methanol to reduce emissions from these sectors.
- Many employees supporting the project will be based in Houston, where Ørsted opened a new office in early 2024.