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DOE Grants $1.3 Billion for Carbon Capture and Sequestration Projects

June 15th, 2009 | No Comments | Posted in Algae-CO2-Capture, Algae-Energy-Companies

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Chemical companies and other industrial sources of greenhouse gas emissions are eligible for $1.3 billion in grants for large-scale carbon capture and sequestration (CCS) demonstration projects under a Department of Energy program announced on June 8.

Industrial sources generate some 19% of U.S. greenhouse gas emissions, but DOE funding support for CCS projects has gone primarily to coal-fired electric power generators. The June 8 announcement, however, is specifically directed to industrial sources, including chemical companies, refineries, cement plants, steel and aluminum producers, manufacturing facilities, and some power plants that use petroleum coke and waste as fuel rather than coal or natural gas.

DOE’s targets for the grants, the announcement says, are projects that are integrated into the plant’s operations and are designed to capture and sequester 1 million tons of CO2 per plant per year by 2015. At least 20% of the project funding must be provided by the company.
DOE crants $1.3 billion to companies starting carbon capture and sequestration (CCS) projects

The same announcement also offers $100 million in funding for demonstrations of beneficial uses of CO2, such as using it to grow algae or converting it to fuel or chemicals.

More information about the funding opportunity is available at fossil.energy.gov/sequestration/publications/arra/DE-FOA-0000015.pdf.

Courtesy:Chemical & Engineering News

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