November 16, 2023 - The U.S. Department of Energy announced on Nov. 14 that it will spend $444 million to support 16 selected carbon storage projects. The investment is part of the Biden-Harris Administration’s Investing in America agenda. The projects, which span 12 states, are funded by the Bipartisan Infrastructure Law.
“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. “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 selected for negotiation aim to support the development of new and expanded large-scale, commercial CO2 storage projects, each with the capacity to safely store 50 or more million metric tons of CO2 over a 30-year period.
All initiatives will back the Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Initiative, overseen by the Department of Energy’s Office of Fossil Energy and Carbon Management (FECM).
Nine out of the 16 projects have been chosen for CarbonSAFE Phase II: Storage Complex Feasibility. They will conduct technical, economic, and community assessments to explore potential CO2 storage complexes, with a particular focus on regions currently lacking such facilities.
Seven projects have been chosen for CarbonSAFE Phase III: Site Characterization and Permitting. These awardees have concluded studies on subsurface conditions and will now concentrate on the detailed site characterization, planning, and permitting phases of project development.
The selected projects will be overseen by the National Energy Technology Laboratory (NETL) of the Department of Energy (DOE), operating under the purview of the Office of Fossil Energy and Carbon Management (FECM).