The CCUS Fund is a market-based, technology-neutral fund aimed at supporting carbon capture, storage and utilization. The government earmarked DKK 16 billion in subsidies to CCUS projects, to be distributed in two phases.
The first phase aims to achieve CO2 reductions of 0.4 million tonnes per year from 2025/2026. In the first phase, funding will be allocated to either one major carbon source or a consortium of smaller carbon sources, which will then purchase transport and storage. Learnings from the first phase of the CCUS Fund and new market developments will be taken into account in designing the second phase of the CCUS Fund.
The fund is expected to support the achievement of 0.9 million tonnes of CO2 reductions per year from 2030.