President Biden has signed the CHIPS Act, a bipartisan bill that authorizes $1 billion in funding for the Energy Department’s carbon removal research, development, and deployment over a four year period from 2023-2026. This doubles DOE’s existing RD&D budget. The following statement can be attributed to Ben Rubin, Executive Director of the Carbon Business Council. The Carbon Business Council is a trade association of more than 40 companies committed to the economic and responsible growth of carbon management.   

FOR IMMEDIATE RELEASE: The Carbon Business Council (CO2BC), a nonprofit trade association of more than 40 leading carbon management startups with combined assets of more than $100 million, launched Tuesday to advocate for early-stage companies focused on removing, utilizing, and managing carbon dioxide. The founding member companies are market leaders with diverse carbon management approaches. CO2BC also includes observers to strengthen connections between startups and carbon removal investors, nonprofits, and other stakeholders.