FECM's Successful 2024 Achievements and Investments Towards Environmental Responsibility and Economic Growth
Key Ideas
  • Invested $850 million in 43 projects to reduce methane emissions in the oil and gas sector, aligning with President Biden's agenda.
  • Allocated $518 million for the development of CO2 storage infrastructure supporting 23 projects across 19 states.
  • Established a $75 million Critical Materials Supply Chain Research Facility and invested $45 million in regional consortia for critical minerals.
  • Invested $58.5 million in 11 projects supporting the Carbon Negative Shot and $44.5 million in advancing carbon capture and storage technologies.
The Office of Fossil Energy and Carbon Management (FECM) in the United States had a highly successful year in 2024, focusing on addressing environmental concerns and driving economic growth. The FECM made significant progress in reducing methane emissions in the oil and gas industry, investing $850 million in 43 projects to support this initiative. Additionally, $518 million was allocated to enhance the nation's CO2 storage infrastructure through the Carbon Storage Assurance Facility Enterprise (CarbonSAFE) Initiative. FECM also dedicated $75 million to establish a Critical Materials Supply Chain Research Facility, aiming to diversify and expand the supply of critical minerals. Furthermore, investments in clean hydrogen deployment, carbon capture technologies, and regional partnerships for carbon storage demonstrate a commitment to sustainable practices and technological advancements. The FECM's emphasis on stakeholder engagement and the formation of working groups to address climate, environmental justice, and Tribal decarbonization efforts highlight a holistic approach to energy management. Overall, FECM's achievements in 2024 reflect a positive outlook towards environmental responsibility, economic development, and technological innovation.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2025 AdvanceH2, LLC. All rights reserved.