Climeworks Receives Approval for CO2 Capture Facility in Louisiana
Climeworks secures approval from the US Department of Energy for the Project Cypress CO2 capture facility in Louisiana, allowing the project to proceed after previously uncertain funding. This project could receive up to $600 million in government investment.
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Climeworks has been authorized to proceed with its CO2 capture facility in Louisiana, known as Project Cypress, after the US Department of Energy reversed its earlier hesitation during a review process. The project, initially set to begin construction in 2026, had received $50 million in funding under the previous administration, aimed at implementing carbon capture in a traditional oil and gas region.
Climeworks, which developed Direct-Air-Capture technology, is positioned to enhance and scale its operations. The facility could significantly impact the carbon capture landscape, particularly in terms of cost and availability.
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