The Indian government is set to launch a policy framework for carbon capture, utilization, and storage (CCUS) initiatives. This initiative aims to reduce carbon emissions, particularly from industries like power generation and manufacturing, and promote the use of captured carbon dioxide for various purposes. The policy will designate the power ministry as the nodal agency and establish a national portal to connect stakeholders.
Carbon capture, utilization, and storage (CCUS) technologies are emerging as a critical solution to reduce carbon dioxide (CO2) emissions and achieve net-zero goals. This report by IDTechEx analyzes the CCUS market, including its key technologies, market forecasts, and leading players. The report also examines the economic drivers and barriers to CCUS adoption, emphasizing the increasing role of carbon pricing policies and the potential for new fragmented business models.
Carbon Upcycling Technologies Inc. has announced the appointment of Steven Berkenfeld as the Chair of its Board of Directors. Berkenfeld brings extensive experience in investment banking, climate tech, and sustainability to the role, having worked in various senior roles at institutions such as Barclays Capital and Lehman Brothers. In his new position, Berkenfeld will collaborate with Carbon Upcycling’s CEO and team to drive the company’s mission of providing decarbonization and carbon capture solutions for hard-to-abate industries.
Reintroducing European bison to Romania’s Țarcu mountains could help capture and store the carbon released by up to 84,000 average US petrol cars each year. New research from Yale University suggests that these massive herbivores could play a role in mitigating climate change. By grazing a 48 square kilometer area of grassland in a wider landscape of 300 kilometers squared, they helped to capture an additional 54,000 tonnes of carbon each year. That is around 10 times the amount that would be captured by the ecosystem without the bison.
Climeworks, a pioneer in carbon capture technology, has launched a massive direct air capture and storage (DAC+S) plant in Iceland. The Mammoth plant, ten times larger than Climeworks’ previous facility, has the capacity to remove up to 36,000 tonnes of carbon dioxide from the air annually. By utilizing Iceland’s abundant geothermal energy, the plant offers a scalable solution for combating climate change.
Capital Power’s decision to halt its Genesee carbon capture project highlights the financial and technological challenges facing such initiatives. The $2.4-billion project aimed to reduce carbon emissions, but uncertainty over carbon credit value and the fate of carbon pricing, along with the risks and costs associated with using the technology in a gas plant, contributed to the decision. While other carbon capture proposals may continue, analysts believe the risks are lower in industries with more established technologies.
Carbon capture technology has emerged as a potential solution to mitigate climate change by capturing and storing carbon dioxide emissions from industrial processes. However, its effectiveness and practicality have been subject to debate. This article delves into the complexities of carbon capture, its potential benefits and challenges, and its role in the broader context of addressing climate change. The article highlights the need for a balanced approach that considers both the limitations and opportunities presented by carbon capture technology.
