Advancing carbon capture technology and creating jobs

  • Delek US Holdings selected for carbon-capture program by the Department of Energy
  • 70% cost-share for up to $95 million of federal funding provided
  • Project expected to capture 145,000 metric tons of carbon dioxide per year
  • Carbon capture schoolhouse to be established to train workforce
  • Expected to create 200 jobs in 2027 and 2028

Delek US Holdings has been chosen by the Department of Energy’s Office of Clean Energy Demonstrations for a carbon capture pilot project at the Big Spring refinery. The project, supported by 70% cost-share funding of up to $95 million, aims to capture 145,000 metric tons of carbon dioxide annually. The use of Svante Technologies’ second-generation carbon capture technology will allow the refinery to maintain its production capabilities and turnaround schedule. Additionally, a carbon capture schoolhouse will be established to train the workforce for the energy transition. The project is expected to create 200 jobs in 2027 and 2028, while also driving cost reductions and commercialization of carbon capture technology.

Public Companies: Delek US Holdings (Ticker not mentioned)
Private Companies: undefined
Key People:

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Factuality Level: 8
Justification: The article provides specific details about Delek US Holdings being selected by the Department of Energy for a carbon capture pilot project. It mentions the cost-sharing agreement, the funding provided by the DOE, the technology to be used, the expected carbon dioxide capture, and the establishment of a carbon capture schoolhouse. The article does not contain any obvious bias or misleading information. However, it could have provided more context about the significance of the project and its potential impact on carbon emissions.

Noise Level: 8
Justification: The article provides relevant information about Delek US Holdings being selected for a carbon capture pilot project and the support they will receive from the Department of Energy. It mentions the technology that will be used, the expected carbon dioxide capture, and the goal of achieving cost reductions and commercializing carbon capture technology. It also mentions the establishment of a carbon capture schoolhouse and the creation of jobs. However, the article lacks in-depth analysis, scientific rigor, and evidence to support its claims. It also does not provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Delek US Holdings

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses Delek US Holdings being selected for a carbon capture pilot project and the cost-sharing agreement with the Department of Energy. However, there is no mention of any extreme event.

Reported publicly: www.marketwatch.com