The Department of Energy to dole out $3.5 billion for carbon removal hubs
by Justine Calma from The Verge - All Posts on (#5ZEAJ)
Intake fans on collector containers at the Orca' direct air capture and storage facility, operated by Climeworks AG, in Hellisheidi, Iceland, on Tuesday, Sept. 7, 2021. | Arnaldur Halldorsson/Bloomberg via Getty Images The Department of Energy (DOE) just launched a new $3.5 billion program to take carbon dioxide out of the atmosphere and store it away. The program focuses on developing four hubs" across the country focused on direct air capture, the technology that draws CO2 out of the air.
Each of the hubs is ultimately supposed to be able to capture and store at least a million metric tons of CO2. That's a massive endeavor. Currently, all the direct air capture facilities in the world only have the capacity to capture about 0.01 million metric tons of CO2.
Today, the DOE filed a Notice of Intent - a kind of official heads-up" - that says that they'll be making a funding announcement related to those hubs in the fourth quarter of Fiscal Year...