US launches $2.52bn CCS funding programme

Cash for large-scale pilot and demonstration projects aimed at decarbonising power generation and hard-to-abate industries

The US Department of Energy (DoE) has launched a $2.52bn funding scheme aimed at unlocking investment in large-scale CCS for the power sector and hard-to-abate industrial sectors. The funding, which is to be financed under the Bipartisan Infrastructure Law, will be offered via two streams: the Carbon Capture Large-Scale Pilots Program and the Carbon Capture Demonstration Projects Program. The DoE’s move highlights the Biden administration’s determination to accelerate the deployment of CCS and other carbon-management tools as part of its push for net zero by 2050. It will put further pressure on the EU and other national governments to ramp up incentives for CCS. $820mn – Funding avail