Carbon TerraVault Holdings, LLC, has announced the assembly of a consortium of organizations for the purpose of bringing direct air capture technology (DAC) to California.
The consortium put together by Carbon TerraVault Holdings, LLC, which is a subsidiary of California Resources Corporation (NYSE: CRC), consists of organizations across industry, academia, government, technology, community and other sectors.
Called the California DAC Hub Consortium, the aim of the new formation is to pursue funding from the US Department of Energy (DOE) to create a DAC hub in the Golden State.
The hub will also include storage capability aka DAC+S, which will ensure that the CO2 removed from the atmosphere can be permanently and safely stored away.
Creating such a direct air capture hub in California will propel the state forward on the climate action arena and help it achieve its carbon neutrality objectives, while prioritizing under-represented communities by improving air quality, creating quality union jobs and energy transition education programs.
In fact, the California DAC Hub consortium plans to build a whole network of DAC+S hubs throughout the state under the DOE’s Regional DAC Hubs Initiative, which aims to speed up the adoption and commercialization of carbon dioxide removal (CDR) and storage.
A key point to make here is that the CO2 removed from the air via DAC will not be used for enhanced oil recovery.
For the initiative to be a success, the California DAC Hub will need to form strong bonds with a variety of community stakeholders and demonstrate a transparent, environmentally conscious approach.
An application is set to be submitted by the non-profit energy research and development institute EPRI to the DOE within the next month.
If approved, the first hub in this project will be launched in Kern County, California.