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5m-grant-given-for-apacs-first-floating-carbon-hub
5m-grant-given-for-apacs-first-floating-carbon-hub

$5m grant given for APAC’s first floating carbon hub

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The Australian Government will fund studies for Asia-Pacific (APAC)’s first ever carbon capture and storage (CCS) hub.

The Carbon Capture, Use and Storage (CCUS) Hub & Technology Program (Hub Stream) grant will enable project developers deepC Store Limited (dCS) to conduct Pre-FEED (front end engineering and design) studies to explore the potential of preferred carbon dioxide (CO2) storage sites. 

In addition to allowing dCS to pre-negotiate commercial terms with its partners, the grant will also advance negotiations with Nippon Steel Corporation (NSC) to offtake CO2 of up to 5m tonnes per annum from its steel work in Japan, helping to decarbonise a sector that contributes to around 8% of global CO2 emissions. 

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