Transitioning Industrial Clusters Meeting in Baton Rouge May 15-16

Many thanks to our host, the Louisiana Future Energy Cluster, and to all of our Transitioning Industrial Clusters community for an outstanding dialogue at the meeting this week. With a focus on how to accelerate deployment of decarbonization technologies and infrastructure at scale, a huge takeaway for me was in how much economics are policy are shaping CCUS, clean electricity and clean hydrogen deployment in the US. Not only are the recent IRA tax incentives a game changer for enabling new projects, but market demand factors such as the export of low carbon energy carriers like NH3 and H2 are encouraging infrastructure development in many regions.

Also impressive is the regional investment in decarbonization projects and infrastructure within Louisiana. We heard about the 40+ major projects, including Clean Hydrogen,  Renewable Fuels, Carbon Capture and Sequestration (CCS), Offshore Wind, Low-Carbon Ammonia and Storage, being launched since 2018 in Louisiana, together bringing an impact of almost $50B USD in capital investment and the generation of over 5000 direct jobs to the region.

Many thanks to Britt Bowker for helping us organize the meeting, as well as to my colleagues from the World Economic Forum, EPRI and Accenture who helped to organize the meeting including Tracy Leslie Charles Pacini Neeta Ramnath Sonia Gonzalez-Garcia Emilie Kærn Thomas Kovac Eneida Licaj Raul Camba

For more on the World Economic Forum's Transitioning Industrial Clusters Initiative, in collaboration with Accenture and EPRI click here