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Its venture into nuclear fusion and direct air capture stands out, begging the question why it does not focus on cheaper and more accessible ways to cut carbon.
The U.S. Department of Energy will invest $3.5 billion to build four so-called direct air capture facilities. Those plants can arrest CO2 in the atmosphere before burying it or using it to make industrial materials.
MarketWatch’s Rachel Koning Beals joins us to explore some of the best new ideas in climate tech — from large-scale solutions like carbon capture and the next generation of batteries, to the latest in smart thermostats and heat pumps.
Direct air capture snags CO2 from the atmosphere — a small-scale, expensive technology. The rainforests are doing the heavy lifting now.
With a bit of help from the DoE, carbon capture financing is finally taking off in the U.S., with oil and gas giant Occidental unveiling plans to launch a number of DAC plants in the next couple of years.