Direct air capture (DAC) technology developer Climeworks announced its plans to build a facility in southwest Louisiana as part of the Project Cypress DAC Hub. The company will mobilize an additional $50 million in private investment to match the initial $50 million in funding from the U.S. Department of Energy to create one of the world’s largest DAC hubs.
The company is expected to create 140 direct new jobs with an average annual salary of $123,000. Climeworks also estimates that the project will support 800 construction jobs. Louisiana Economic Development estimates that the project will result in 329 indirect new jobs, for a total of 469 new jobs in the Southwest Region.
“Louisiana has the keys to drive global growth, innovation and excellence in the energy sector now and for generations to come,” LED Secretary Susan B. Bourgeois said. “We are excited about the unique opportunity this project represents for the workers of southwest Louisiana, and look forward to working with Climeworks and our partners to make their vision a reality.”