Investment in carbon capture development gets a boost in the US and Asia

6 March 2024 | Muriel Cozier

US government supports carbon management projects and Singapore partners with ExxonMobil and Shell on CCS.

The US Department of Energy is to provide up to $30 million in funding opportunities to support carbon management projects in two areas. One is focused on converting carbon dioxide into economically valuable products, while the other will develop lower-cost efficient technologies to capture carbon dioxide from industrial sources and power plants for permanent storage or conversion.

Carbon conversion projects that are likely to be funded include transformation of carbon dioxide to plastics and non-photosynthetic biological conversion. While the carbon capture from industrial facilities could include storage or conversion into products such as synthetic aggregates and building materials.

Brad Crabtree, assistant secretary at the DoE’s Office of Fossil Energy and Carbon Management said: ‘The development of innovative technologies that capture carbon dioxide and recycle the emissions into value added products is part of a broad portfolio of solutions needed to help the nation move toward a clean energy and industrial economy.’

In a separate development, ExxonMobil Asia Pacific and Shell Singapore have formed a consortium known as S-Hub which is working with Singapore’s government to evaluate and develop a cross-border carbon capture and storage (CCS) project.

They will coordinate the planning and development of a project that will capture and permanently store at least 2.5 million tonnes of carbon dioxide each year by 2030.

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