VNF Senior Policy Advisor Mary Landrieu, participated in firm client Climeworks’ US Carbon Removal Summit in New York on September 23. Discussions focused on the importance of Direct Air Capture as a critical tool in efforts to decarbonize, innovate, and spur workforce development.

Climeworks, is the anchor direct air capture technology provider for Louisiana’s Project Cypress, which has been awarded a contract from the U.S. Department of Energy (DOE)’s Office of Clean Energy Demonstrations (OCED) alongside project lead Battelle and project partner Heirloom. Following​​ ​negotiations that began last August, this $50 million in funding from OCED will establish one of the nation’s first direct air capture (DAC) hubs in Louisiana. With the initial award of $50 million from OCED, Project Cypress also will mobilize $51 million in private investment to begin the initial phase of the DAC Hub that, when fully operational, is intended to remove 1 million tons of excess carbon dioxide (CO₂) from the air every year by 2030. ​Project Cypress is eligible for up to $600 million in matched federal investment under this funding opportunity. ​

VNF is at the forefront of collaborating with companies such as Climeworks who are seeking to be a part of the climate change solution as innovators and industry leaders—for more information please contact any member of our Energy Transition team.