First US-led DAC investment since passage of infrastructure law
On Friday morning, the Biden Administration announced the allocation of up to $1.2 billion from the Infrastructure Investment and Jobs Act to build direct air capture (DAC) hubs to extract millions of tons of planet-warming CO2 emissions. The grant announcement marks the first U.S.-led DAC investment since the passage of the infrastructure law. Award recipients include “Project Cypress” in Calcasieu Parish, Louisiana, managed by Battelle, Climeworks Corporation, and Heirloom Carbon; and “South Texas DAC Hub” in Kleberg County, Texas, managed by 1PointFive, Carbon Engineering, and Worley.
“Technology needs to be a part of our solution to climate change, and this is a big down payment on climate change mitigation technology at scale,” said Chamber of Progress CEO Adam Kovacevich. “It’s only a first step in terms of funding, but it’s an important precedent and signal for moving the ball forward on direct air capture technology.”
Today’s climate tech investment comes at the end of a summer which has seen record high temperatures, an onslaught of extreme weather events, and deadly wildfires ravage countries around the globe.
Chamber of Progress (progresschamber.org) is a center-left tech industry policy coalition promoting technology’s progressive future. We work to ensure that all Americans benefit from technological leaps, and that the tech industry operates responsibly and fairly.
Our corporate partners do not have a vote on or veto over our positions. We do not speak for individual partner companies and remain true to our stated principles even when our partners disagree.