Climeworks, a Swiss direct air capture (DAC) company, has partnered with CapturePoint Solutions, a CO2 sequestration company, to transport and store CO2 from its Project Cypress DAC hub in Louisiana.
CapturePoint will transport the captured CO2 from Climeworks' Calcasieu Parish facility to its CENLA Hub in Vernon and Rapides Parishes for permanent underground storage. The CENLA Hub is one of the largest onshore carbon storage centers under development in the US.
The Project Cypress DAC Hub will be developed in two phases, with an initial capacity of 300,000 tons of CO2 per year, scalable to one million tons. The project will receive USD 50 million from the Department of Energy's OCED program, with an additional USD 51 million in private investment.
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