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The Inflation Reduction Act, signed into law by President Joe Biden in August 2022, has allocated $400 billion in federal dollars for clean energy projects as the United States aims for up to a 40% reduction in economy-wide greenhouse gas emissions by 2030. Private investment into climate tech startups is on track to match, and likely surpass, the government’s funding, particularly as investors feel secure in a growing market for such technologies. In the past year, more than 270 new clean energy projects have been announced, with private investments totaling around $132 billion, according to an August report from Bank of America Global Research.

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