Bid for $500 million in climate grants for direct air carbon sequestration | – #Bid #million #climate #grants #direct #air #carbon #sequestration
WASHINGTON, March 15 (Reuters) – Two companies developing technology to capture carbon from the air, Switzerland’s Climeworks and California’s Heirloom, have agreed to invest $500 million to commercialize the climate-friendly technology. USA for a dollar grant offer teamed up with nonprofit company Battelle to give
USA The Department of Energy last year spent 3.5 percent building four regional Direct Air Capture, or DAC, centers to begin commercializing technology to capture carbon dioxide from the air and store it permanently. billion dollars launched a five-year program to spend.
Scientists directly weather carbon sequestration is seen as vital to limiting global warming, but the technology is still developing.
The terms of the $500 million grant call for expanding one center to capture one million tons of carbon dioxide per year. Primary Applications for the grant package closed this week.
The Ministry of Energy declined to disclose how many applications it received.
Shawn Bennett, Battelle’s manager of energy and sustainability, told Reuters that unprecedented federal investment, private sector activity and the recognition by scientists of the need to decarbonize to meet global climate goals have created a “once-in-a-lifetime opportunity” to deploy the technology.
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Battelle has a history of working with carbon capture technology and operating centers and labs for the government.
Geologic storage company Gulf Coast Sequestration would permanently store the captured carbon underground in southwest Louisiana if the center is selected, but it is not part of the group seeking the grant.
Climeworks currently has the largest operational DAC project in Iceland, sequestering approximately 4,000 tonnes of carbon dioxide (CO2) per year, which is equivalent to an International Organization’s estimate of 36.8 billion ton is slightly lower than global energy-related CO2 emissions. Energy Agency for 2022.
Heirloom has a small-scale demonstration project in California.
Other projects that may seek government support also aim to remove carbon on a large scale.
Occidental Petroleum ( OXY.N ) last year added 1.1 to a facility in the Texas Permian oil field that it aims to start up in 2024. billion dollars announced that he planned to spend.
A California-based company also announced plans last year in Wyoming for what it said could be the first large-scale DAC project to capture and store 5 million tons of carbon dioxide per year by 2030.
By mid-century, the Energy Department said, carbon removal would need to be applied on a gigaton or billion-ton scale, meaning it would need to capture the equivalent of the emissions of about 250 million cars driven in a year. .
Reporting by Valerie Volcovici and Peter Henderson; Edited by Sonali Paul
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2023-03-15 14:46:53
Source – reuters
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