Direct Air Capture (DAC) with Carbon Storage
‘Direct Air Capture (DAC) with carbon storage’ is a negative emission technology, which means that carbon dioxide is both removed from the atmosphere and then geologically stored. In DAC, CO2 is pulled directly from the air, and then used for enhanced oil recovery (EOR) and/or stored in suitable geological formations. An example of DAC techology is Oxy's project in the Permian Basin [Oxy plans to partner with Carbon Engineering to build the world’s largest direct air capture (DAC) and sequestration facility in the Permian Basin. The plant will be capable of capturing about 1 million metric tons of CO2 per year].
45Q Tax Credit is a great opportunity for DAC project developers to monetize the captured CO2. But to qualify for this tax credit, the captured CO2 must either be used for CO2 enhanced oil recovery (EOR) projects, or utilized in other projects that permanently sequester/store CO2.
The sesoned consultants of A&A Consulting Team are available to help DAC project developers on ALL aspects of their 45Q Tax Credit projects, to take full advantage of this tax credit opportunity, by providing state-of-the-art consulting services whenever requested.
To put the high-level and seasoned consultants, subject matter experts (SME), of A&A Consulting Team to work on your company's DAC related 45Q Tax Credit projects, please contact us.
