CO2 Infrastructure Finance and Innovation Act (CIFIA) Program & Future Growth Grants - American Cities Climate Challenge
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CO2 Infrastructure Finance and Innovation Act (CIFIA) Program & Future Growth Grants

Federal Agency

Sub-Department

Office of Fossil Energy and Carbon Management

Purpose

To provide secured loans or loan guarantee to projects (of at least $100m) involving common carrier carbon dioxide transportation infrastructure or associated equipment, including pipeline, shipping, rail, or other transportation infrastructure and associated equipment, that will transport or handle carbon dioxide captured from anthropogenic sources or ambient air.

Applicant and/or Project Eligibility Requirements

Loan-eligible projects must be greater than $100M. Grants must (A) attract public or private investment, (B) enable a project to proceed at an earlier date, or (C) reduce the lifecycle costs (including debt service costs) of the project. Future Growth Grants may only pay the costs of any additional flow rate capacity of a carbon dioxide transportation infrastructure asset.

Decarbonization Considerations

CIFIA will help finance the development of carbon capture, utilization, and storage infrastructure to reduce CO2 emissions. Extracting CO2 directly from the atmosphere has the potential to act as an important tool to achieving a net-zero future, yet utilizing such systems can be costly. Improving technology can help to address the cost issue and further reduce the carbon emissions.

Equity Considerations

DOE will enable geographical diversity in associated projects that capture carbon dioxide from anthropogenic sources or ambient air, with the goal of enabling projects in all major carbon dioxide-emitting regions of the United States.

Helpful Tips

N/A

Other Notes

N/A

Deadline (Announced or Anticipated)

TBA

Funding Available

$600,000,000

Max Award Amount

Up to 100% of development phase activities; max loan of 80% of total project costs; max loan maturity of 35 years

Expected Allocations

N/A

Average Award (Estimated)

N/A

Matching Funds

20% match required for Future Growth Grants

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