Bipartisan Infrastructure Law Appropriates $3.5 Billion to the Department of Energy (DOE) to Develop Domestic…

Description

The Bipartisan Infrastructure Law Appropriates $3.5 Billion to the Department of Energy (DOE) to Develop Domestic Regional Dac Hubs to Accelerate Commercialization of, and Demonstrate the Processing, Transport, Geologic Storage, and Conversion of, CO2 Captured from the Atmosphere. Consistent with This Goal and the DOE Funding Opportunity Announcement That Followed, 1POINTFIVE P2, LLC (“1POINTFIVE”), Intends to Construct the South Texas Dac Hub on King Ranch in Kleberg County, Texas Capable of Removing Up to 1,000,000 Metric Tons Per Annum of CO2 from the Atmosphere Along with Associated CO2 Geologic Storage. The South Texas Dac Hub Will Utilize Liquid Sorbent Dac Technology That Was Developed by Carbon Engineering (Ce), an Affiliate of 1POINTFIVE, and Safely and Securely Store the Carbon Dioxide in a Saline Geologic Reservoir. This Project Will Further Demonstrate Ce Dac Technology at Commercial Scale, Help Lower Dac CDR Costs, and Enable Future Expansion of Dac Facilities on King Ranch and at Other Sites in the U.S. The South Texas Dac Hub Will Further Demonstrate How Dac Can Benefit Local Communities by Providing Quality Local Jobs and Educational Opportunities and Supporting Underrepresented Business Enterprises, While Mitigating Potential Negative Impacts, Such as Environmental and Health Impacts.