New Cuts to High-Quality Carbon Removal Projects Threaten to Send Innovators Abroad

(WASHINGTON, D.C.) — Following last night’s announcement of 321 project terminations from the Department of Energyopens in a new tab that aims to cancel lawfully-designated funding for TA-1 and TA-2 Direct Air Capture Hubs (DAC Hubs), Carbon Negative Shot Pilots, and CarbonSAFE awardees, Giana Amador, Executive Director of the Carbon Removal Alliance, released the following statement:

“The United States is one of the world’s greatest producers of innovative technologies — that is thanks to our government’s long track record and expertise partnering with cutting-edge researchers and companies. America’s role as a reliable and savvy business partner has helped develop and commercialize nearly every technology we produce today, but cancelling grants to high-quality projects undermines that reputation and threatens to send innovators abroad.

“Last night’s wave of cancellations could result in nearly $50 million in cuts to TA-1 and TA-2 DAC Hubs awardees. These businesses fought hard to use this funding to bring in-demand jobs and economic growth to their communities, and want to deploy their technology right here in the United States.

“The carbon removal industry is projected to be worth more than a trillion dollars in the coming decades, according to analysis from McKinseyopens in a new tab. A trillion-dollar industry means American growth, jobs, and global leadership, but only if there is a policy environment that encourages innovators to stay in the United States and commercialize their technology here.”

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About the Carbon Removal Alliance

The Carbon Removal Allianceopens in a new tab is a nonprofit, nonpartisan coalition building a carbon removal industry ready to reach gigaton scale by bringing innovators and policymakers together and putting quality at the center of our work. Our team comprises respected leaders in the carbon removal space, with deep expertise in public policy and affairs, communications, climate science, and emerging technologies. Our more than 25 member companies represent a diverse range of carbon removal pathways and are responsible for virtually all of the permanent carbon removal to date. United together — innovative companies, buyers, and experts — we’re ready to bring the world into the carbon removal era.