The Biden administration has taken a crucial step forward by endorsing technology designed to capture carbon dioxide from the atmosphere, a major contributor to global warming, with an initial funding tranche of up to $1.2 billion. The government has chosen the first recipients of a $3.5 billion fund committed to accelerating the development of these innovative projects, which scientists have highlighted as critical tools in reducing the most severe effects of climate change.
“This technology can help us make serious headway toward our net-zero emission goals”
One of these projects, led by an Occidental Petroleum Corp. subsidiary, will receive finance from the initial $1.2 billion tranche. Kleberg County, Texas, has been proposed as the location for this carbon-removal hub. The other project, proposed for Calcasieu Parish, Louisiana, combines collaborations between Climeworks, Battelle Memorial Institute, and Heirloom Carbon Technologies, Inc. This is the first round of investments announced by the Energy Department.
According to Energy Secretary Jennifer M. Granholm, the technology at the heart of these initiatives is analogous to a big vacuum capable of sucking decades’ worth of carbon pollution directly from the sky. “If we deploy this at scale,” Granholm added, “this technology can help us make serious headway toward our net-zero emission goals.” Once operational, these projects are expected to remove approximately 2 million metric tons of carbon dioxide from the atmosphere each year, which is similar to the environmental impact of removing over half a million gas-powered cars from the road each year.
The energy department has chosen 19 projects
The Energy Department announced its intention to showcase more initiatives in the following year. Furthermore, the department has chosen 19 projects for “award negotiations.” Among these is Chevron Corp.’s division in San Ramon, California, which has proposed a direct air capture center with a $3 million development budget.
Carbon Capture Inc. has also received $12.5 million for the Wyoming Regional Direct Air Capture Hub, broadening the breadth of carbon removal initiatives. Despite its potential, the business is still in its infancy and is said to be characterized by high operating costs and significant energy requirements. (https://www.leankitchenco.com/) According to studies, critics have highlighted worries about the untested efficacy of carbon capture technology in combating climate change. Approximately 18 direct air capture projects are currently active around the world. The projects announced by the Energy Department, on the other hand, represent the first commercial-scale deployment of this technology in the United States.
