Published by Todd Bush on February 2, 2023
The U.S. Department of Energy’s (DOE) Office of Clean Energy Demonstrations (OCED), in collaboration with the Office of Fossil Energy and Carbon Management (FECM), intends to provide up to $2.52 billion to fund two carbon capture programs needed to reduce carbon emissions from the electricity generation and industrial sectors. Established by President Biden’s Infrastructure Investment and Jobs Act, both the pilot and demonstrations programs will help drive the demonstration and deployment of carbon management technologies critical to addressing the climate crisis and meeting the nation’s goal of net-zero emissions by 2050, while also protecting industrial jobs and boosting job creation in communities across America.
>> In Other News: Colorado School of Mines and Carbon America awarded $32.6M from U.S. Department of Energy CarbonSAFE Initiative
“Carbon capture represents an addressable market of nearly $100 billion by 2030 and $600 billion by 2050 just in the United States,” said Office of Clean Energy Demonstrations Director David Crane. “The nearly $5 billion of carbon capture pilot and demonstration projects that will be directly enabled by these two programs, together with the carbon tax credits authorized in the Inflation Reduction Act, will catalyze the commercial wave essential to a clean energy transition, which ensures safe, affordable, and reliable energy to the American consumer and empowers workers in every pocket of the country.”
Since the electricity generation and industrial sectors account for a significant portion of our nation’s carbon emissions, carbon capture, utilization, and storage (CCUS) is a critical component of reducing emissions and meeting our climate and energy transition goals. For the United States to reach net-zero emissions by 2050, CCUS will need to scale to potentially as much as 100 times today’s levels. Growth of this magnitude represents an exciting technological challenge and an extraordinary economic opportunity.
OCED’s role is to de-risk these transformational technologies and catalyze private sector investment through public-private cost share agreements. The Carbon Capture Large-Scale Pilots program will include up to $820 million for up to 10 projects focused on scaling transformational carbon capture technologies. The Carbon Capture Demonstration Projects Program will include up to $1.7 billion for approximately six projects to demonstrate commercial-scale carbon capture technologies, pipeline transportation, and geologic storage infrastructure. The pilot program seeks to catalyze earlier stage technologies with great potential, while the demonstrations program will focus on technologies that will further commercialization.
DOE understands, and intends to address, the concerns of frontline communities and environmental justice and climate organizations about how CCUS projects may negatively affect those communities, local environmental quality, and the overall climate mitigation efforts if not developed with appropriate safeguards. That is why applications to both funding announcements will require a tailored Community Benefits Plan discussing, among other areas, community and labor engagement; investing in the American workforce; diversity, equity, inclusion, and accessibility; and the Justice40 Initiative. This will enable and advise future activities with the intent of developing community-informed projects to support the cost-effective, efficient, equitable, and environmentally responsible at-scale expansion of CCUS operations to enable industry adoption.
DOE plans to release both funding announcements in late February 2023.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💰 Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion 🚢 AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility 🌱 Stoc...
Inside This Issue 🌍 Innovating the Future: Gautam Swami's Global Journey in Low-carbon Energy and Finance 🌊 Captura Announces Sale of Carbon Removal Credits and Strategic Partnership With Mitsui O...
Inside This Issue 🏭 Verdagy Selects Black & Veatch for a Front-End Engineering Design (FEED) Study for Its 9,000 tons/year (60-megawatt) Clean Hydrogen Plant in Texas USA - English USA 🌊 Ocean...
Shell, Equinor, Totalenergies to Invest $714 Million in Carbon Storage Expansion
OSLO, March 27 (Reuters) – Shell, Equinor, and TotalEnergies said on Thursday they will invest 7.5 billion Norwegian crowns ($713.66 million) into expanding their flagship carbon storage project in...
AiPs Obtained for Liquefied CO₂ Carrier Design and Floating Liquefied Storage Facility
Knutsen NYK Carbon Carriers AS (KNCC), a subsidiary of Nippon Yusen Kabushiki Kaisha (NYK) and Knutsen Group, has obtained Approval in Principle (AiP) from ClassNK for the design of liquified CO₂ c...
Trump Administration Tells Oil and Biofuels Groups to Hash Out New Biofuel Policy
Trump administration asks Big Oil and Farm Belt to come to a consensus on biofuel policy Two meetings held so far, with consensus to seek higher biomass-based diesel volumes Other key issues...
Nel ASA: Receives Purchase Order From Collins Aerospace for U.S. Navy Stacks
OSLO, Norway, March 27, 2025 /PRNewswire/ -- Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order for PEM electrolyser stacks for about USD 6 million from Collins ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.