The U.S. Department of Energy (DOE)’s Office of Fossil Energy and Carbon Management (FECM) has announced up to $500 million in funding to support projects that expand carbon dioxide (CO2) transportation infrastructure in the United States.
This initiative is part of the Biden-Harris Administration’s goal to achieve a net-zero emissions economy by mid-century, FECM said on its website last week.
This ambitious goal requires the rapid development and deployment of technologies to capture CO2 emissions from industrial activities and power generation, as well as direct air capture (DAC) from the atmosphere.
The captured CO2 must be transported safely and efficiently for either permanent geologic storage or conversion into durable products.
The funding opportunity is provided under the Carbon Dioxide Transportation Infrastructure Finance and Innovation (CIFIA) program, which was established through the Bipartisan Infrastructure Law.
The CIFIA program aims to provide financial assistance for the design, development, and construction of CO2 transport systems that will accommodate future carbon capture and storage (CCS) facilities.
The newly announced grants are intended to help build the infrastructure needed to support future CO2 transport needs as more carbon capture projects become operational and additional storage or conversion sites are developed.
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Eligibility for this funding opportunity is limited to applicants who qualify for the CIFIA program.
Interested parties must first submit a Letter of Interest (LoI) to the DOE to determine their eligibility, and only those with an eligibility determination letter can apply.
On this occasion, the DOE seeks to fund projects that support the development of CO2 transport systems, including pipelines, rail, trucks, and ships.
These systems must be capable of transporting CO2 from multiple sources to storage or conversion sites.
The funding awards will range from $31.25 million to $125 million, with a minimum 20% cost share required from awardees.
Read more: DOE Invests $44.5M In Carbon Capture, Transport And Storage Projects
