The successful launch of a direct air capture facility took place in April in Colorado.
Denver Post via Getty Images
The U.S. Energy Department recently revealed a significant investment of $1.2 billion in two groundbreaking projects aimed at extracting carbon dioxide from the atmosphere. The projects will be carried out in Texas and Louisiana, with the potential to eliminate over 2 million metric tons of CO2 annually, making this initiative the largest of its kind in the United States thus far.
During a press call on Friday, Energy Secretary Jennifer Granholm remarked, “This development is equivalent to removing nearly half a million gas-powered cars from our roads. By leveraging this advanced technology, we can take substantial steps towards achieving our ambitious net zero emissions targets.”
The $1.2 billion funding represents the initial allocation from the $3.5 billion program established under the 2021 Bipartisan Infrastructure Law, specifically designed to combat carbon emissions by implementing direct air capture (DAC) technology. Two additional carbon removal sites are expected to be announced in 2024.
This unprecedented level of financial support from the U.S. government signifies a commitment to advancing direct air capture technology. The process involves using chemical reactions to extract CO2 from the air, with various companies employing different methods to store the captured CO2, often opting for underground storage.
Speaking during the call, Mitch Landrieu, Senior Advisor to the President and the White House Infrastructure Coordinator for the bipartisan initiative, emphasized the profound impact of the projects: “These hubs will play a pivotal role in enabling the U.S. to transition towards a net zero greenhouse gas economy by 2050.” He also highlighted the potential for job creation, estimating the projects to generate around 5,000 new employment opportunities between Texas and Louisiana.
In Louisiana, “Project Cypress” will be established by Battelle, a carbon storage company, in collaboration with DAC companies Climeworks Corporation and Heirloom Carbon Technologies. Climeworks, which has raised over $830 million in funding, according to Crunchbase, is one of the leading startups in the DAC sector. Heirloom Carbon Technologies was co-founded by Noah McQueen, recognized as a Forbes 30 Under 30 recipient.
Project Cypress aims to capture and store over one million metric tons of CO2 annually from the atmosphere, using permanent underground storage in Calcasieu Parish, Louisiana. The establishment of this new hub will also result in the creation of approximately 2,300 job opportunities. Moreover, the project has committed to hiring former employees of the fossil fuel industry, allocating at least 10% of the workforce to these individuals.
In Texas, the “South Texas DAC Hub” will be developed by 1PointFive, a carbon capture company and subsidiary of Occidental Petroleum
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The DOE has announced that both hubs will establish a feedback system for local communities to voice any concerns or observations regarding the impact of the sites.
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