Biden Bets Billions on Tech That Sucks Carbon Out of the Air
Direct air capture plants proposed by Occidental and Climeworks will receive as much as $1.2 billion in US funding to fight climate change.
The Climeworks AG Orca direct air capture and storage facility, right, and Hellisheidi geothermal power plant, left, in Hellisheidi, Iceland, in 2021.
Photographer: Arnaldur Halldorsson/BloombergThe Biden administration is throwing its weight behind technology that sucks planet-warming carbon dioxide out of the air, selecting the first winners of a $3.5 billion fund dedicated to developing the machines scientists say will be needed to stop the worst effects of climate change.
Projects proposed by a subsidiary of Occidental Petroleum Corp. for Kleberg County, Texas, and by Climeworks AG, Battelle Memorial Institute and Heirloom Carbon Technologies, Inc. for Calcasieu Parish, Louisiana, were selected for the first tranche of funding, up to $1.2 billion, the Energy Department said.