Illinois U.S Senator Tammy Duckworth says the Inflation Reduction Act will help companies like Marquis Inc. She toured the energy company in Hennepin Thursday along with U.S Deputy Secretary of Energy David Turk. She says the work being done at the company is critical.
The company is trying to become the first carbon-neutral industrial complex with on-site carbon injection. CEO Mark Marquis says the company drilled it’s first 5,000 ft. test well to determine how much carbon they can sequestrate from the ground and keep it from going into the atmosphere. Marquis says the company will be a leader in doing just that. The company got a tax credit before to do sequestering of carbon dioxide. The Inflation Reduction Act increases the amount in the tax credit from $50 to $85 which will allow the company to do more. That includes cleaning flue gases from natural gas boiling tanks.
Secretary Turk says the act is a big deal and will increase employment and have communities prospering for future generations. You can hear the press conference from Sen. Duckworth, Secretary Turk, and CEO Mark Marquis here:
U.S Senator Tammy Duckworth with Marquis Inc. staff.