Australian Government Opens CCUS Development Fund
1st March 2021
The Morrison Government today has opened the $50 million Carbon Capture, Use and Storage Development Fund.
Select carbon capture projects will get a boost from the fund, which aims to attract private sector investment. CCS is one of five priority areas under the Government's Technology Investment Roadmap.
“The Fund will provide targeted support to a wide array of carbon capture, use and storage (CCUS) opportunities, including carbon recycling, negative emissions/direct air capture, and carbon capture and storage," said Minister for Energy and Emissions Reduction Angus Taylor.
Australia is home to a range of industries where CCS is key to decarbonisation, including hard-to-abate sectors like steel manufacturing, cement and fertiliser production. CCS is backed by the IPCC and IEA as critical to reducing emissions to net-zero by mid-century and achieving global climate change targets.
Learn more about the CCUS Development Fund here.