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Carbon Storage
November 14, 2023

The U.S. Department of Energy (DOE) is investing over $444 million in 16 projects across 12 states as part of President Biden’s Investing in America agenda. These projects aim to combat climate change by enhancing the nation’s carbon management industry, focusing on expanding carbon dioxide (CO2) storage infrastructure. The goal is to significantly reduce CO2 emissions from industrial operations, power plants, and legacy emissions in the atmosphere, aligning with the Administration’s ambitious climate goal of a net-zero emissions economy by 2050.

The selected projects will support the development of new and expanded large-scale, commercial carbon storage projects, each capable of securely storing 50 or more million metric tons of carbon dioxide over a 30-year period. Nine of the 16 projects were selected for CarbonSAFE Phase II: Storage Complex Feasibility, while seven projects were selected for CarbonSAFE Phase III: Site Characterization and Permitting.

In alignment with the Biden-Harris Administration’s commitment to advance environmental justice and equity, all funding recipients will advance Community Benefits Plans to ensure local community members have a voice in project implementation, prepare residents for jobs in the emerging carbon capture and storage industry, and generate opportunities for economic development.

Since January 2021, FECM has announced investments of more than $816 million in projects that advance the research, development, and deployment of carbon transport and storage technologies and infrastructure. This progress is essential to help drive economic development, technological innovation, and high-wage jobs as we build a clean energy and industrial economy.

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