New law helps U.S. firm launch Wyoming direct air carbon capture project
A Los Angeles-based company kicked off on Thursday what it said will be the first large-scale direct air capture (DAC) project to capture and store 5 million
A Los Angeles-based company kicked off on Thursday what it said will be the first large-scale direct air capture (DAC) project to capture and store 5 million tons of carbon dioxide per year by 2030, benefiting from new U.S. government incentives.
CarbonCapture, founded by technology entrepreneur Bill Gross, announced the start of Project Bison in Wyoming with Frontier Carbon Solutions, marking a milestone as government and private investment pours into the nascent DAC climate technology.
The company described it as the first major scalable deployment of DAC technology and the first to inject and permanently store CO2 underground in federally approved wells.
The passage in August of new law by Congress accelerated the launch of Project Bison by a couple months, giving CarbonCapture and the DAC industry the financial support and long-term certainty needed to scale up the technology, CarbonCapture CEO Adrian Corless told Reuters.
“With the passage of the Inflation Reduction Act (IRA), the proliferation of companies seeking high quality carbon removal credits, and a disruptive low-cost technology, we now have the ingredients needed to scale DAC to megaton levels by the end of this decade,” said Corless.
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