White House announces $3bn investment in US ports

White House announces $3bn investment in US ports

Cash injection is being funded by the Inflation Reduction Act and will be awarded to 55 projects across 27 states

by Lloyd's List


29 October 2024 (Lloyd's List) - THE Biden administration will award $3bn to 57 projects across 27 states and territories to fund green infrastructure in Environmental Protection Agency Clean Ports grants.


Funded through the Inflation Reduction Act, the $3bn will pay for battery-electric and hydrogen-powered port equipment, drayage trucks, 10 locomotives and 20 vessels, plus electric and hydrogen charging infrastructure to power vehicles.


Shore power was also specifically highlighted as a project for the funding, alongside solar power generation.


The White House said the grants will support 40,000 jobs across the country and eliminate more than 3m tonnes of carbon pollution over the first 10 years of implementation.


Among the ports that will receive a share of the $3bn is Baltimore, Maryland. The port will receive more than $145m in funding from the pot to purchase electric cargo handling equipment transition the port to zero emissions.

Source: Lloyd's List