DOE Invests $444 Million for Safe Storage of CO2 - Smart Energy Decisions

Energy Efficiency, GHG Emissions, Industrial  -  November 27, 2023

DOE Invests $444 Million for Safe Storage of CO2

The U.S. Department of Energy (DOE) announced the allocation of over $444 million to support 16 selected projects across 12 states that will bolster the carbon management industry. 

The projects will expand carbon dioxide (CO2) storage infrastructure and lower CO2 emissions from industrial operations and power plants, as well as from legacy emissions in the atmosphere. 

“President Biden’s Investing in America agenda is about transforming our nation for the better—curbing pollution and providing economic opportunities in communities throughout the nation,” said U.S. Secretary of Energy Jennifer M. Granholm, in a statement. “Thanks to this historic agenda, DOE is investing in responsible carbon storage infrastructure to help slow the harmful effects of climate change all while revitalizing local economies and delivering cleaner air to the American people.”

The 16 projects will support the development of new and expanded large-scale, commercial carbon storage projects, each with the capacity to securely store 50 or more million metric tons of carbon dioxide over a 30-year period. All projects will support the Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Initiative, managed by DOE’s Office of Fossil Energy and Carbon Management (FECM).

Seven projects were selected for CarbonSAFE Phase III: Site Characterization and Permitting. The recipients completed studies of subsurface conditions and will now focus on conducting detailed site characterization, planning, and permitting stages of project development.

DOE’s National Energy Technology Laboratory (NETL), under the purview of FECM, will manage the selected projects.

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