EPA Awards $6.2M For Hempcrete Initiative To Combat Climate Change - Aurora Cannabis (NASDAQ:ACB), Canopy Gwth (NASDAQ:CGC)
Summary
This grant is part of a broader $160 million initiative under President Bidens Inflation Reduction Act, aimed at revitalizing U.S. manufacturing and reducing greenhouse gas emissions associated with construction materials.The document published by the EPA with summaries of proposed grantee projects provides detailed insights into the initiatives funded.Jacob Waddell, founder of HBI, along with Todd Hughes, founder of Maryland-based EntreVator, are set to spearhead the project. "We are deeply honored to receive this grant from the EPA, which marks the beginning of a pivotal journey towards the widespread adoption of biogenic building materials," Hughes expressed in an email, according to a National Industrial Hemp Council newsletter.Read Also: The Wall That Can Withstand 1700\xb0F And Cut $10B In Losses: Fire-Resistant Hempcrete Now CertifiedThe projects scope is comprehensive, including developing Environmental Product Declarations (EPDs) and Life Cycle Assessments (LCAs) for these green materials. Achieving mainstream adoption [of natural building materials] requires not only standardizing EPDs but also overcoming regulatory hurdles, increasing public and industry awareness, securing supply chain stability, and ensuring cost competitiveness.The broader EPA funding effort highlights the Biden-Harris Administrations strategy to foster cleaner construction practices and support clean U.S. manufacturing under the Inflation Reduction Act. The Federal Buy Clean Initiative, highlighted in a recent EPA press release, prioritizes low-carbon materials in federal projects, underscoring a commitment to reducing climate pollution.The initiative also involves the Parsons Healthy Materials Lab at The New School, New York, ensuring a multi-disciplinary approach to tackling emissions from the construction industry, which accounts for over 15% of annual global greenhouse emissions. Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.