Cork-headquartered firm Climeaction is to develop a $50m (€46m) Climate Transition Fund in the US to help large industrial manufacturers in New England to develop clean energy and decarbonisation projects.

Paul Murphy’s company is moving to fill a gap caused by the recent $500m (€457.8m) cuts to Massachusetts’s state energy efficiency funding, which has left many companies struggling to finance their transition to cleaner energy.

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