Direct Air Capture (DAC) provider Climeworks, and carbon sequestration solutions provider Gulf Coast Sequestration (GCS), announced a new partnership today, signing an agreement to work together to permanently remove one million tons of carbon dioxide from the air annually by 2030.
In the new partnership, GCS will supply Climeworks with geologic pore space suited for its carbon-storage DAC technology, creating a carbon storage hub on the Gulf Coast in Louisiana.
DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2 directly from the atmosphere for use as a raw material or permanently removed when combined with storage.
Climeworks co-CEO Jan Wurzbacher, said:
“Direct air capture (DAC) is a key technology for removing unavoidable and historic CO2 from the air. Climeworks is excited to work with GCS on the development of a U.S. hub to scale up the DAC industry in support of a more economically and environmentally sustainable future in Louisiana.”
GCS, initially focused on the industrial corridor between southwest Louisiana and Texas, is working to become the first operational carbon storage hub on the Gulf Coast. With a 2024 launch date, the Louisiana hub is expected to remove up to 10 million tons of CO₂ emissions annually from the atmosphere.
Gray Stream, President of the Stream Companies, the owner of GCS, said:
“Carbon capture and sequestration (CCS) is a key component of today’s energy transition, offering an immediate pathway to rapid decarbonization. Direct air capture (DAC) presents the inspiring possibility of reaching net-zero or even negative carbon emissions. Together, GCS and Climeworks are uniquely positioned to bring this promise to reality in the Gulf Coast’s industrial corridor.”
The parties said they hope to expand the storage hub to a multi-million-ton capacity in future years.