The NOI offers two funding opportunities for R&D)projects in sustainable propane and renewable chemicals, as well as algal system cultivation and preprocessing.
The agencies expect these investments will encourage immediate steps to conserve energy resources for American consumers and decrease methane emissions.
These projects will work to reduce flood risks, support restoration efforts, strengthen flood and climate resilience and safeguard drinking water sources.
From the new funding, $145 million will be issued as loans, while $59.2 million will be allocated through a combination of grants and loans with principal forgiveness.
These projects will focus on better water distribution and storage, improving safety measures, boosting hydropower generation and providing water treatment solutions.