"This gets projects built," he says. The Bipartisan Infrastructure Law signed in 2021 set aside $3.5 billion in federal funds to help the construction of four regional DAC hubs. This is the money that is going into the Louisiana and Texas projects."
"If you do want to build an industry, you cannot do it with demo projects. You have to put your money where your mouth is and say there are certain projects that should be eligible for a larger share of funding," says Daniel Nathan, chief project development officer at Climeworks.
"What you have is a guaranteed revenue stream of $180 per ton for a minimum of 12 years," says Andreasen. It's particularly critical given that the costs of capturing and storing a ton of carbon dioxide are likely to exceed the market rate of carbon credits for a long time.
"Without a top-up from the government, it's unlikely that a market for DAC sequestration would be able to sustain itself."
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