.png)
🚚 Safe and reliable CO2 transport infrastructure is central to our ability to scale carbon dioxide removal (#CDR). According to the US Government, we will need around 96,000 miles of pipelines in the US alone - up from just 5,000 miles today.
👏 Building this infrastructure will cost billions and take years. As such, today’s announcement by the U.S. Department of Energy (DOE) to provide $500m of grants is a clear signal to the market that the government is serious about this.
🔎 In its announcement, the DoE estimates that the US will eventually have to transport and store between 400Mt and 1.8Gt of CO2 yearly, coming from both industrial carbon capture and storage (#CCS) and atmospheric CO2 removal such as #BiCRS and hastag#DACCS.
💰 This new programme - run by the DoE’s Fossil Energy and Carbon Management (#FECM) - is called “Carbon Dioxide Transportation Infrastructure Finance and Innovation (CIFIA)” and is funded by the Bipartisan Infrastructure Law.
📜 The transport system—which may include pipelines, rail, trucks, barges, and/or ships—must connect, either directly or indirectly, two or more CO2 emitting sources to one or more conversion sites or secure geologic storage facilities.
📅 The application deadline is July 30, 2024 at 5:00 p.m. ET.
😮 I have been amazed by the momentum the DoE has been generating over the past months: $100m for CDR projects, the $35m Procurement Prize, and the latest announcement of the Procurement Challenge (check comments for details). Very excited about this latest announcement and what it means for our ability to scale certain CDR approaches in the US.
❓What do you think? Step in the right direction?
Comments