Bank of America Makes First-of-Its-Kind $205M Tax Credit Deal for Carbon Capture with Harvestone

Bank of America is investing $205 million in a pioneering carbon capture project with Harvestone Low Carbon Partners, linked to an ethanol plant in North Dakota. This plant captures 200,000 metric tons of carbon annually, comparable to the emissions of 42,000 cars. The investment capitalizes on the 2022 climate law’s expanded tax credits for carbon capture, which enhances the viability of this technology, especially in industries resistant to renewables. The deal reflects confidence in the project’s longevity and potential policy support, with future expansion plans and flexible strategies indicating a significant step forward in carbon capture efforts. Resources: https://esgnews.com/bank-of-america-makes-first-of-its-kind-205m-tax-credit-deal-for-carbon-capture-with-harvestone/