On February 15, 2022, the White House issued a fact sheet related to industrial sector emissions reductions that listed, among other items, several significant carbon capture announcements from across the federal government. The fact sheet comes just days after the U.S. Department of Energy (DOE) announced the availability of up to $96 million in federal funding for advanced carbon capture technologies pursuant to the recently enacted bipartisan Infrastructure Investment and Jobs Act. Collectively, these announcements implement bipartisan laws enacted by the U.S. Congress and build on the Biden administration’s approach to meeting U.S. climate goals. Companies across sectors (particularly in energy-intensive industries), developers, investors, financial institutions, and consumers alike should take stock of these federal announcements and opportunities as carbon capture gains momentum in the U.S.
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