Shell backs carbon removal hub at dawn of Trump era

illuminem summarizes for you the essential news of the day. Read the full piece on POLITICO or enjoy below:

🗞️ Driving the news: Shell and Mitsubishi are investing in an Israeli startup, RepAir Carbon, to supply technology for a proposed direct air capture (DAC) hub in Louisiana
• The Pelican-Gulf Coast Carbon Removal hub is part of a consortium supported by a $3.5 billion Biden administration DAC initiative, though its future could be influenced by changing U.S. political dynamics

🔭 The context: The Pelican hub includes collaborators like Louisiana State University and the University of Houston and is one of 19 projects that received early federal support
• The project is gearing up to compete for further Energy Department DAC funding
Amid potential policy shifts, the consortium emphasizes resilience to geopolitical headwinds

🌍 Why it matters for the planet: Direct air capture technologies aim to significantly reduce atmospheric CO2 levels, helping to mitigate climate change
• Efforts like the Pelican hub highlight private-public partnerships driving carbon removal innovation

⏭️ What's next: The consortium will seek further federal funding and navigate potential policy changes under a new U.S. administration
• Their success could set a precedent for DAC projects globally

💬 One quote: "We’re very much used to operating against all kinds of various geopolitical headwinds, and we managed to deliver despite those headwinds." – Amir Shiner, CEO of RepAir Carbon

📈 One stat: The Biden administration has allocated $3.5 billion for direct air capture (DAC) hub development as part of its climate initiatives

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