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BY
Jordy Leo
- February 7, 2024
The US Department of Energy’s (DOE) Office of Clean Energy Demonstrations (OCED) has announced up to USD304m in funding for four projects trialing carbon capture technologies, according to the DOE’s official website on February 4. These large-scale pilot projects will be located at power and industrial sites in Kentucky, Mississippi, Texas, and Wyoming, with the potential to prevent more than 500,000 tons of carbon dioxide (CO2) emissions from entering the atmosphere annually. For instance, as much as USD95m will be allocated for the Big Spring refinery in Texas, which will deploy an innovative post-combustion carbon capture process to reduce emissions. These trialing projects aim to scale up the adoption of carbon capture technology and reduce costs for further replication at other oil refineries and industrial facilities.
The incentives for these four selected projects are sourced from the Bipartisan Infrastructure Law passed in 2021. The law authorized USD12bn of new investments in supporting carbon capture, utilization, and storage (CCUS) technology, alongside the substantial funding it has granted to a range of emission-reduction schemes. Last December, the DOE also awarded USD890m to three carbon capture projects deployed at two natural gas power plants and a coal-fired power plant, with a potential to collectively reduce emissions by 7.75 million tons a year. Notably, the funding is also granted under the Bipartisan Infrastructure Law. According to DOE estimates, it requires capturing and storing 400 million to 1.8 billion tons of CO2 from emissions sources annually by 2050 to realize America’s net-zero emissions target.
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