Carbon Capture, Use and Storage Development Fund

Country / jurisdiction: Australia · Year: 2021 · Status: In force · Level: National · Type: Voluntary

The Australian Government’s AUD 50 million Carbon Capture, Use and Storage Development Fund provides businesses with grants of up $25 million for pilot projects or pre-commercial projects aimed at reducing emissions. Carbon capture and storage technologies are one of five priority areas for investment under the Government’s Technology Investment Roadmap. The Fund will provide targeted support to an array of carbon capture, use and storage (CCUS) opportunities, including carbon use/recycling, negative emissions/direct air capture, and carbon capture and storage. Successful projects will share in up to AUD 50 million in grant funding.

As of 18 June 2021, six carbon capture projects were funded under the Fund. They concern the storage of CO2 emitted by:

- LNG operations (Santos Limited)

- producers and manufacturers of materials (Mineral Carbonation International)

- biomethane and landfills sites (Energy Developments Pty Ltd)

- coal-fired power station (Carbon Transport and Storage Company).

The last two projects develop carbon capture technologies for:

- the process of concrete, masonry and steel slug production to improve recycling (Boral Limited)

- Direct-air-capture (DAC) and storage project, to geologically sequester CO2 (Corporate Carbon Advisory Pty Ltd).

Official source: https://www.energy.gov.au/news-media/news/accelerating-carbon-capture-technologies