The U.S. Energy Department launched a program on Thursday to fund four large-scale projects across the country that can remove carbon dioxide from the air, investing $3.5 billion in a nascent technology the Biden administration says is necessary to meet a goal of achieving net zero emissions by mid century.
The agency released a formal notice saying it would fund the $3.5 billion program created by the 2021 Bipartisan Infrastucture Law that would create four regional direct air capture hubs to spur the widespread deployment of the technology and carbon dioxide transport and storage infrastructure.
Carbon removal technology has gained major attention and investment in recent months. There are three major direct air capture projects under development that have emerged in North America and Europe but they are only sucking up small amounts of CO2 from the air currently.
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