The State of Wyoming and the State of Colorado have formed a Memorandum of Understanding for activities relating to direct air capture (DAC) and the further development of the technology. Under the MoU, both parties aim is to focus on the DAC sector’s potential to enhance existing industries while simultaneously reducing CO2.
DAC is described as a form of carbon dioxide removal (CDR) which sees CO2 being removed from the air and then sequestered and stored. It can then be used within industrial operations – including enhanced oil recovery or as a chemical feedstock for other products – or alternatively, it can be used to produce high quality carbon removal credits.
To date, the federal government has created an array of incentives and grant opportunities to enable the testing and scaling of DAC technologies and projects.
Through the newly signed MoU, the partners will collaborate on grant applications, to identify necessary infrastructure, to define carbon removal measurement standards and to analyze atmospheric CDR markets (and their growth opportunities). Furthermore, the duo will work to identify processes for resolving challenges surrounding cross-border CO2 sequestration, and also on the development of a commercialization pipeline for nascent technologies.
“Wyoming is a longtime leader in carbon management practices and policy,” said Mark Gordon, Wyoming Governor. “We believe direct air capture could complement efforts for point-source carbon capture and the related infrastructure. Colorado and Wyoming each have pieces of the puzzle necessary to develop a carbon removal market and industry.
“Together, we have a powerful combination of assets, infrastructure, policy, markets, people, geology and mindsets that are needed to accelerate the development of the industry. This agreement focuses on working together on the most important questions related to DAC, including measurement standards that work to create more transparency in markets and benefits to communities.”
Colorado Governor Jared Polis, added, “This exciting bipartisan partnership builds upon our nation-leading work in Colorado to achieve 100% renewable energy by 2040 while adding good-paying jobs. I am proud to partner with Gov. Gordon on this innovative work that benefits both Colorado and Wyoming as we continue to find creative ideas and common-sense solutions in the fight for clean air that won’t just benefit Colorado and Wyoming, but the entire world.”