"US Grants $1.2 Billion to Oxy and Climeworks for Carbon Air Capture Hubs"

The U.S. Department of Energy has awarded over $1 billion in federal grants to two carbon air capture projects in Texas and Louisiana, a significant step in scaling up direct air capture (DAC) technology. The projects aim to remove more than 2 million metric tons of carbon emissions per year. The grants are part of the Department of Energy's efforts to bring down the cost of DAC technology and meet the country's goal of neutralizing greenhouse gas emissions by 2050. The funding includes a government procurement program for carbon removal credits and support for feasibility and engineering studies for earlier-stage hub projects. DAC technology uses chemical reactions to remove CO2 from the air, which can then be stored underground or used in various products.