Carbon TerraVault Holdings, LLC Announces California DAC Hub Consortium to Bring Direct Air Capture and Storage to the Golden State

Carbon TerraVault Holdings, LLC (CTV), a subsidiary of California Resources Corporation (NYSE: CRC), today announced it has assembled a consortium of organizations across industry, technology, academia, national labs, community, government, and labor, to pursue U.S. Department of Energy (DOE) funding under its Regional Direct Air Capture (DAC) Hubs Initiative to create the California DAC Hub, the state’s first full-scale DAC plus storage (DAC+S) network of regional DAC+S hubs. DAC+S is a solution that can remove and then permanently store atmospheric carbon dioxide (CO₂) using low carbon emission energy and provide economic benefits to surrounding communities.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230207005539/en/

California DAC Hub Consortium (Graphic: Business Wire)

California DAC Hub will help accelerate the Golden State’s climate leadership and achieve its carbon neutrality goal, and prioritize surrounding under-represented California communities through transformative benefits potentially including local air quality improvements, from helping maximize the use of renewable energy; utilization of reclaimed water and/or production of new water; quality union jobs in construction and low carbon energy technologies; and science, technology, engineering, and math (STEM) and energy transition education programs. Through California DAC Hub, the consortium will pursue funding to develop a network of DAC+S hubs across the state under the DOE’s Regional DAC Hubs Initiative, as outlined under the recent $3.5 billion Funding Opportunity Announcement (FOA), to accelerate the commercialization of atmospheric CO₂ removal via integrated capture, processing, transport, and secure geologic storage. CO₂ from DAC+S hubs will not be used for enhanced oil recovery. Key to the success of the California DAC Hub will be strong relationships with diverse community stakeholders to develop an equitable, just, and environmentally responsible approach to the project.

Non-profit energy research and development institute EPRI intends to submit an application to the DOE on or before March 13, 2023, as specified in the FOA instructions on behalf of the California DAC Hub consortium, including consortium lead CTV Direct, LLC, a wholly owned subsidiary of CTV focused exclusively on DAC+S, and community benefits plan lead Kern Community College District (Kern CCD). The first hub is targeted to launch in Kern County, California, and the consortium will look to expand to other locations across the state. Each hub will provide benefits to surrounding communities, such as high-paying and permanent jobs and training programs for reskilling workers, to help California progress toward its 2030 and 2045 carbon removal goals.