U.S. Department Of Energy Announces $4.9 Billion For Carbon Management Projects

U.S. Department Of Energy Announces $4.9 Billion For Carbon Management Projects - Carbon Herald
Image: lev radin/Shutterstock

During the Global Clean Energy Forum on Sept. 23 – which got together 34 countries and over 400 CEOs – the United States made a series of important announcements on the future of clean energy and carbon management.

In addition to a $94 billion investment in Clean Energy Technology Demonstrations, the Biden-Harris administration will invest $4.9 billion in the carbon management industry, the U.S. Department of Energy said. The funding – part of President Biden’s Bipartisan Infrastructure Law – will support three programs focused on the demonstration and deployment of CO2 capture systems, transport, and storage. 

“Nearly every climate model makes clear that we need carbon management technology—especially in hard to decarbonize sectors and heavy industries such as steel and cement production—to tackle the climate crisis,” said U.S. Secretary of Energy Jennifer M. Granholm. The Bipartisan Infrastructure Law helps accelerate projects that can store tens of millions of tons of carbon dioxide while creating new jobs and a healthier environment in the U.S., she also said. 

DOE made the following funding opportunity announcements:

  • Carbon Storage Validation and Testing, which supports the Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Initiative and provides up to $2.25 billion for the development of large-scale commercial CO2 storage projects and associated infrastructure. These projects are expected to have the capacity to store over 50 million metric tons of CO2.
  • Carbon Capture Demonstration Projects Program, which will be jointly managed by DOE’s Office of Clean Energy Demonstrations (OCED) and the Office of Fossil Energy and Carbon Management (FECM). The program’s $2.54 billion in funding will focus on six CO2 capture, transport, and storage demonstration projects that can be replicated at fossil fuel energy power sites and industrial sources of carbon dioxide such as cement, iron and some chemical production facilities. 
  • Carbon Dioxide Transport Engineering and Design, which provides up to $100 million for the design of regional pipeline networks that can safely transport captured carbon to centralized locations. The project will be managed by FECM. 

Read more: Biden-Harris Administration Invests $2.6 Billion in Carbon Capture Programs

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts