It was the hottest thing in climate technology. Now he is trapped in Death Valley
4 days agoLast Updated: November 1, 2025
2 7 minutes read
It was the hottest thing in climate technology. Now he is trapped in Death Valley
By Adele Peters | Published: 2025-10-31 09:00:00 | Source: Fast Company – technology
A year ago, direct air capture — technology that pulls carbon dioxide from the air — seemed poised to expand rapidly in the United States.
Cypress, a massive project in Louisiana designed to capture more than 1 million tons of carbon dioxide each year, received $50 million in funding from the Department of Energy in early 2024. In Texas, another major direct air capture center also won funding. Together the projects were eligible for up to $1.1 billion from the Department of Energy, part of the $3.5 billion Congress allocated for DACs in the bipartisan Infrastructure Act of 2021.
Climeworks, an industry leader and one of the partners in the Louisiana project, has been hiring a US team, scaling up a new factory in Iceland, and signing major deals for Selling decarbonisation to companies such as British Airways And Morgan Stanley. Heirloom, another central Louisiana technology company, closed a $150 million Series B round Of financing. CarbonCapture, another startup in this space, has raised $80 million. Several other DAC projects have also won DOE grants.
The situation is different now. In one round of cuts, according to Leaked listThe Department of Energy may cancel about $50 million in grants to 10 different direct aerial capture projects. (The cuts are part of more than $7.5 billion in eliminations from the administration.) Calls Financing the “New Green Scam.”) A second leaked spreadsheet suggests that major centers in Louisiana and Texas may also be at risk. Earlier this year, Heirloom laid off some workers and reportedly canceled a planned project. Climeworks also had a round of layoffs.
Meanwhile, a few projects are moving forward, and one major tax credit remains in place. Government support is not the only thing keeping the industry afloat. But the technology is still in the so-called valley of death – a stage that has not yet reached widespread commercial deployment – and a funding cut would be a major blow. Even as other countries offer incentives, this could slow down the industry globally.
“I think the economy could slow down significantly,” says Eric Aurier, associate director at the economic and policy research firm Rhodium Group. “If you look at it from a political perspective, the United States was already dominating this space.”
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