Carbon TerraVault Holdings has been selected to receive US$11.8 million in funding from the US Department of Energy (DOE) under its Regional Direct Air Capture (DAC) Hubs Initiative, related to the proposed development of California’s first full-scale DAC plus storage (DAC+S) network of regional hubs.
DAC+S is a solution that is intended to remove and then permanently store atmospheric carbon dioxide (CO2) using low-carbon emission energy and provide economic benefits to surrounding communities. This first DOE amount will be used to perform Front End Engineering Design (FEED) studies in 2024 on the proposed DAC facilities in Kern County, US, followed up with additional funding requests and planned development and construction potentially beginning in 2025. With selection for the DOE funding, the California DAC Hub is also eligible for additional funding from the California Energy Commission.
The California DAC Hub consortium is comprised of approximately 40 organisations from across industry, community, tribes, government, technology, national labs, academia, labour, and workforce development. The California DAC Hub is expected to help accelerate the states's climate leadership and achieve its carbon neutrality goal.
The California DAC Hub consortium is pursuing funding to develop a network of DAC+S hubs across the state under the DOE’s Regional DAC Hubs Initiative to accelerate the commercialisation of atmospheric CO2 removal via integrated capture, processing, transport, and secure permanent geologic storage. CO2 from DAC+S hubs will not be used for enhanced oil recovery.
The first hub is planned to launch in Kern County, California, US, and the consortium will look to expand to other locations across the state. Each hub is expected to provide tangible energy transition benefits to surrounding communities, such as high-paying and permanent jobs and workforce development programmes to help California progress toward its 2030 and 2045 carbon removal goals.