In a historic move towards a sustainable future, the U.S. Department of Energy (DOE) under President Biden's Investing in America agenda has announced a monumental investment of over $444 million. This funding will bolster sixteen carefully selected projects across twelve states, playing a pivotal role in the fight against climate change by strengthening the nation's carbon management industry.
President Biden’s Vision for a Greener Tomorrow
President Biden's ambitious climate goal of achieving a net-zero emissions economy by 2050 takes a significant step forward with this investment. The focus is on capturing, transporting, and permanently storing hundreds of millions of tons of carbon dioxide annually. This concerted effort aims to build the necessary infrastructure for large-scale carbon dioxide storage in geologic facilities, contributing to the nation's carbon reduction goals.
Carbon Storage Validation and Testing Project Selections
CarbonSAFE Phase II: Storage Complex Feasibility
- Battelle Memorial Institute (Columbus, OH): Advancing Carbon Capture in Southeastern Illinois Basin
- Colorado School of Mines (Golden, CO): Feasibility Study for Carbon Storage Reservoir in the Sacramento Delta
- Commonwealth of Virginia Department of Energy (Big Stone Gap, VA): Storage Hub Feasibility in Wise County, Virginia
- Electric Power Research Institute, Inc. (Palo Alto, CA): CO2 Transportation Feasibility from Tracy Power Station to Northeastern California
- Omnia Midstream Partners, LLC (Tulsa, OK): Advancing Permian Regional Carbon Sequestration Hub in the Delaware Basin, Texas
- Southern States Energy Board (Peachtree Corners, GA): Feasibility Study for CO2 Storage in South Florida
- Trifecta Renewable Solutions (Plano, TX): Storage Hub Feasibility at Red Hills Mine in Ackerman, Mississippi
- University of Alaska Fairbanks (Fairbanks, AK): Evaluating CO2 Storage Complex in Northern Cook Inlet Basin, South-Central Alaska
- University of Wyoming (Laramie, WY): Feasibility Study for Saline CO2 Storage Hub in Echo Springs Area, South-Central Wyoming
CarbonSAFE Phase III: Site Characterization and Permitting
- Advanced Resources International, Inc. (Arlington, VA): Commercial-Scale Geologic CO2 Storage Hub near Monkey Island, Louisiana
- BP Carbon Solutions (Houston, TX): Carbon Storage Hub around Whiting Refinery in Lake County, Indiana, covering Indiana, Illinois, and Michigan
- New Mexico Institute of Mining and Technology (Socorro, NM): Site Characterization Study for Three Proposed Storage Sites in the San Juan Basin, Northwest New Mexico
- Projeo Corporation (Des Plaines, IL): Feasibility of Converting Mature Oil and Gas Field in Permian Basin into Dedicated CO2 Storage Facility
- River Parish Sequestration, LLC (Houston, TX): CO2 Transportation and Storage Solution for the Louisiana Chemical Corridor
- Southern States Energy Board (Peachtree Corners, GA): Site Characterization Study for Four Geologic Carbon Storage Systems supporting Ohio, Pennsylvania, and West Virginia
- Tampa Electric Company (Tampa, FL): Site Characterization Study for Proposed Polk Carbon Storage Complex near Existing Natural Gas Power Station in Polk County, Florida
Environmental Justice and Equity at the Core
Aligning with the Biden-Harris Administration's commitment to advance environmental justice and equity, the DOE ensures that the CarbonSAFE program addresses societal considerations and impacts. Active community engagement is emphasized, with all funding recipients committed to advancing Community Benefits Plans. These plans ensure local communities have a voice in project implementation, prepare residents for jobs in the emerging carbon capture and storage industry, and contribute to economic development.
Advancing Carbon Storage Technologies: A Milestone Achievement
With today's selections, FECM has now invested over $816 million in projects since January 2021, driving research, development, and deployment of carbon transport and storage technologies and infrastructure. This includes $242 million for nine storage projects selected in May 2023 under the first closing of the Carbon Storage Validation and Testing funding opportunity. These investments are instrumental in promoting economic development, technological innovation, and high-wage jobs, aligning with the goal of achieving net-zero emissions across the U.S. economy.
To stay updated on these groundbreaking projects, visit the , sign up for FECM news announcements, and explore the . The journey towards a sustainable, carbon-neutral future is underway, and these investments mark a significant stride towards realizing that vision.