Statement from Carbon Clean on President Biden’s Infrastructure Bill Signing

Statement by Aniruddha Sharma, Co-founder & CEO, Carbon Clean

We applaud the signing of the Infrastructure Bill which, along with other proposals in front of Congress, include for the first-time significant US government investment in carbon capture technology, one of the most promising solutions for mitigating climate change.

While much of the investment is directed towards direct air capture – which is in its infancy and remains expensive – we continue to encourage the government to invest in point source carbon capture solutions which are much closer to cost parity and will help the US steel, cement, chemicals and refining sectors in the short to medium term. 

We are seeing tremendous international success, with rapid adoption by industrial users and an extremely competitive cost per ton that is making the economic case undeniable. Carbon capture represents an enormous untapped new market for the US. Today, the US market in just two of the industries that we focus on – steel and cement – is worth $200 billion. Add midstream industries, such as gas plants, and it becomes a trillion-dollar industry in the US.

So as Congressional leaders come together to debate the rest of the President’s agenda on tackling the urgent need to address climate change, strategies related to carbon capture technology are central to reducing carbon emissions and present a tremendous opportunity for the country.