Industrial Carbon Contract
Mechanism to incentivize industrial users to deploy carbon capture technology to achieve deep decarbonization. Provides capital co-funding and ongoing revenue support, based on a payment for difference between a strike price and a reference price, for projects selected as part of the cluster sequencing process.
Net Zero Industry Act
A March 2023 proposal to include CCUS as one of eight strategic climate technologies, set a target of 50 million tonnes per year of storage capacity by 2030, support and possibly mandate for developing storage capacity.