ASX Renewable Energy Stocks: Biden’s climate bill passes Senate
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On Sunday the US passed a historic A$622 billion bill set to lower drug prices, raise some corporate taxes, and fight climate change.
In what President Biden has described as being the ‘largest investment ever’ in combatting the existential crisis of climate change, the Inflation Reduction Act intends to accelerate US emission cuts and place the country on a path to reduce greenhouse gases by 40pc below 2005 levels by 2030 – if approved in the House of Representatives on Friday.
If the bill is passed in the House of Representatives, it will then make its way to the White House for presidential approval.
According to reports, it took a 27-hour weekend debate before the senate approval the legislation by a 51-50 vote along party lines.
Although short on the initial US$555 billion that Democrats had originally called for, the bill will see US$60 billion spent towards growing renewable energy infrastructure in manufacturing such as solar panels and wind turbines.
The developer of the Bristol Springs Green Hydrogen Project in Western Australia, FHE, has appointed Amanda Reid as non-executive director after Mike Young stepped down from his role at the end of July.
According to the company, Reid has experience in government relations providing advice to a wide cross section of companies and organisations for more than 15 years for two national government relations and corporate communications firms.
This included five years as a Partner at GRA Partners.
She was also a senior adviser in previous West Australian State Governments with responsibility for managing a strategic communications unit.
Reid has held non-executive board positions across both private companies and not-for-profit organisations and is a member of the Australian Institute of Company Directors.
Clean technology company, EDE, wants to raise A$0.755m through a place of 94,375,000 placement shares at0.8c per share for general working capital purposes.
One of Eden Innovation’s main products is EdenCrete, a carbon nanotube enrich liquid mixture that elevates concrete structures to new levels of strength and toughness.
When added to concrete mixes, the company’s EdenCrete carbon nanotubes fill in space at the nanoscopic level between the hydrogen cement particles.
Instead of leaving porous voids that would allow water to penetrate or cracks to develop, when concrete curers these nanotubes develop millions of flexible, strong bridges throughout the structure.