Covestro LLC (48C Self-Disclosed)

Covestro, a leading manufacturer of high-quality polymer materials, has initiated a project to significantly reduce Scope 1 emissions, specifically the N2O and NOx emissions associated with nitric acid production at its Baytown, Texas facility. The project is solely to reduce N2O and NOx emissions. It will not increase production capacity, revenue or profit for Covestro, and it will result in a chemically identical product. The project will, however, help Covestro achieve its climate neutrality targets through reduced emissions and result in a more environmentally sound product.

The U.S. Department of Energy (DOE) released applicant self-disclosed information for 22 projects across 17 states that voluntarily shared with DOE that they received a total of nearly $1 billion in allocations from the Qualifying Advanced Energy Project Credit (48C). Nine of the self-disclosed projects indicated they are located in 48C energy communities – communities with closed coal mines or coal plants—showcasing the Biden Administration’s commitment to investing in America’s energy communities.