Heirloom, a direct air capture (DAC) startup, has announced the launch of two DAC facilities at the Port of Caddo-Bossier in Shreveport, Northwest Louisiana. The facilities will remove nearly 320,000 tons of CO2 from the atmosphere annually.

In the first phase, the company plans to invest USD 475 million to build its first DAC facility in Louisiana and its second in North America. The second facility will be built as part of Project Cypress, utilizing up to USD 550 million US DOE funding. 

The first facility is expected to begin construction by the end of 2024 and remove ~17,000 tons of CO2 annually, beginning in 2026. The second facility, part of Project Cypress, is under design and is expected to remove 300,000 tons of CO2 per annum once operational in 2027, removing 100,000 tons of CO2 per annum.  

In addition, Heirloom is also partnering with CarbonPoint, a carbon utilization and sequestration startup, to store the CO2 captured from these facilities in Class VI underground wells.

Analyst QuickTake: The company commissioned its first commercial DAC facility in California in November 2023 , shortly after signing a multi-year agreement with Microsoft to remove ~315,000 tons of CO2. The company has also signed agreements to provide carbon removal to Stripe, Meta, Shopify, JPMorgan, McKinsey, Workday, H&M, Autodesk, and others.