New, enhanced 45Q tax credit

The recently passed US Bipartisan Budget Act of 2018 provides new rules for the 45Q tax credit for carbon sequestration.

Biorecro CEO Henrik Karlsson comments on the bill ”We are excited about the vast potential for carbon capture and storage (CCS) projects that has been unlocked by the new enhanced 45Q tax credit. It enables ethanol producers throughout the US to annually benefit from tens of millions of tax credits up to $50 per tonne. It is the world’s first major incentive for profitable carbon sequestration operations and opens up this industry for large scale deployment.”