Carrie Cox

This month the Treasury Department and the Internal Revenue Service issued the final rules about the section 45Q tax credit that can incentivize projects that capture and sequester carbon dioxide. ABO has been an advocate for the credit, and the new rule may open the door for algae production projects to apply.

“These final regulations provide taxpayers and the American energy sector with needed clarity on utilizing the section 45Q credit,” said Treasury Secretary Steven T. Mnuchin. “These regulations are an essential step toward harnessing the entrepreneurial spirit of Americans to further modernize the American energy sector, while ensuring American energy producers maintain their competitive edge around the world.”

The credit may also have applications beyond the energy sector, since projects that sequester carbon via direct air capture can qualify as well.

Additionally, while the final regulations are similar to the preliminary rules issued in March 2020, they also include provisions that allow smaller projects to take advantage of the tax credit.

Other resources:

• The Treasury’s press release about the final rule
• ABO’s take on the preliminary rules issues in March, 2020

Federal support for advanced algae R&D is on a solid foundation for 2021 with the recent passage of an omnibus appropriations bill that was included in last year’s COVID-19 relief legislation. These funds extend a long-standing tradition of supporting advanced algae technology development at the federal level, and were approved by bipartisan majorities in Congress.

Here’s a breakdown of what’s included in the legislation:

• The Department of Energy’s (DOE) Bioenergy Technologies Office (BETO) will direct $40 million to funding opportunities that target advanced algae systems, the same level of support allocated in 2020. $10 million of those funds will be provided for R&D to support atmospheric carbon capture.
• At the DOE’s Fossil Energy Office, the Carbon Use and Reuse program will get $23 million, a $2 million increase over last year. $8 million of these funds are allocated for competitive solicitations on carbon dioxide absorption with algae systems that can capture and reuse the gas to produce useful biofuels and chemicals.
• Finally, the legislation encourages the US Department of Agriculture’s (USDA) National Institute of Food and Agriculture (NIFA) to support research on algae and algae applications in agriculture, including new commercial markets for renewable and sustainable products derived from algae. This is the first time algae has been prioritized at NIFA in this manner.

These funding allocations are typically distributed in a competitive process managed by federal agencies. If you are interested in exploring how your project might qualify, ABO encourages you to reach out to the appropriate federal contacts. ABO is also happy to provide assistance. Contact us here.

ABO is grateful for this continued support from Congress, and will continue to work closely with elected officials to show how algae research is making important contributions to the United States’ technological and economic leadership.

The funding opportunities that come from these allocations could also be augmented by the priorities of the incoming Biden Administration. ABO is working with supporters in Congress and the White House to ensure that the algae industry continues to be part of the solution to in climate, energy, water, food security, economic development and other areas.

Additional Resources:

• Learn more about funding opportunities at the DOE’s Bioenergy Technologies Office
• ABO’s Guide to Leveraging Federal Funding Opportunities for Technology Development

From the Scottish Association of Marine Science, The Culture Collection of Algae and Protozoa invite applications to their online 2.5 day course on Algaculture.

This course is open to students, technicians, early career researchers, industry professionals and algae enthusiasts.

Short lectures from SAMS experts will cover:

Taxonomy
Nutrition
Photosynthesis
Legal Issues
Algae in Biotechnology: Opportunities and Challenges
Algal Sequencing and Bioinformatics
Large scale microalgal culture
Macroalgal Culture

Practical demonstrations by technical experts will include:

Media prep
Subculturing
Enumeration
Cryopreservation
Strain Isolation
Macroalgal Scale-up

Follow this link to find out more.

Applications should be submitted by 07 February 2021.