Overview

• On May 30, the Energy Department canceled nearly $3.7 billion in funding for 24 emerging energy technology projects awarded late in the Biden term, citing economic nonviability.
• Most of the scrapped awards targeted carbon capture and decarbonization, including $332 million for a hydrogen retrofit at Exxon's Baytown refinery and investments in low-emission cement and furnace upgrades.
• Sixteen of the canceled awards were signed between the November 5, 2024, election and President Biden’s January 20 inauguration.
• The department also initiated a review of 179 projects totaling over $15 billion awarded under the bipartisan infrastructure law to assess market readiness and effectiveness.
• Industry and environmental groups warn the cuts undermine U.S. competitiveness in clean technology and run counter to stated goals on energy innovation.