Updates on Global Carbon Capture Facility Developments

In light of the EU's big #CDR commitment yesterday - it made me wonder if the sector is on track to deliver the high-quality supply? Lucky for me - and you - Robert Höglund answers this question in his newsletter this morning. Highlights: 🚀 The durable CDR market continues to see explosive growth. CDR purchases grew 7.3x to 4.5 megatonnes (Mt), up from 0.615Mt tonnes in 2022. ⏳ CDR Deliveries are scaling, but at a slower pace than purchases. Deliveries grew 2x from 2022-2023, up to 125kt. ✅ There are now 115 suppliers of CDR with at least 1 sale, and 50 suppliers with at least 1 delivery, up from 74 and 37 respectively in 2022. 🇩🇰 2023 Purchases were concentrated in BECCS (method) & Ørsted (supplier), driven by a single agreement with Microsoft for 2.67 Mt. 🏴 2023 Deliveries were concentrated in Biochar, representing 94% of 2023 CDR deliveries. 💰 The CDR.fyi Price Index for CDR increased to $444 per tonne, with varying price action across methods. 💵 32 durable carbon removal companies attracted $577M in equity, despite an overall downturn in climate tech investments. These investments were mainly directed towards North American and European startups. Biggest takeaway for me: 🌿 Breaking down the often quoted IPCC number of 6-10 gigatonnes (Gt) of CDR needed in the second half of this century to 4 Gt per year of durable CDR by 2050 - Robert asks if we're on track? 🌿 Recent research led by Greg Nemet helped him conclude that current growth rates in purchases and deliveries put us well on track for reaching this - if we maintain them. That's great news people. 🌿 Onwards and upwards! Milkywire Marginal Carbon AB #carbonremovals #cdr Eve Tamme Sebastian Manhart Alfonso Paradinas Aguilera Anna J. LEHNER Ted Christie-Miller Hannes Junginger Na'im Merchant Quincy Childs Randy Spock Raag Lavingiya Tracy Johns Daniel Pike Reilly O'Hara Christopher Knop Michael Leitch Josefine Lange Strandgaard

#CCUS project announcements are surging in the United States, but permitting delays are still holding back investments. When the Inflation Reduction Act was signed in August 2022, the U.S. EPA had 25 pending applications for CO2 storage wells. Today there are nearly 170. There is a growing global consensus that #carboncapture is necessary to achieve #netzero. But without faster permitting, climate goals could be at risk. -- "Applications for more than 100 carbon dioxide wells have been filed so far this year — more than twice the number filed in the previous two years — with projects concentrated largely along the Gulf Coast, in oil fields in West Texas and New Mexico, around ethanol plants in the Midwest and in California. "The jump in applications brings the number of carbon capture wells awaiting a decision at EPA to almost 170, without a single project approved since the Biden administration took office in 2021, despite EPA guidance that applications should be decided within two years. In Texas, close to 20 wells are awaiting approval, including an application filed by Occidental Petroleum early last year for a carbon storage project in West Texas that is supposed to be the first in a series of carbon hubs across Texas and Louisiana. A decision on the permit is not expected until the end of 2024 at the earliest." https://lnkd.in/dbvg2dEt

This Kenyan startup is literally sucking CO₂ from the air and selling it Kenyan startup Octavia Carbon is building a Direct Air Carbon Capture (DAC) plant in Gilgil the first of its kind on the continent. It’s a serious engineering play -Uses geothermal energy -Captures 1,000 tonnes of CO₂ from the air annually -Stores it underground in volcanic rock -Sells carbon credits to global buyers This isn’t just another climate headline it’s infrastructure. Quietly being built, tested, and scaled right here. No noise. Just execution.The part that stands out to me? They’re using Kenya’s natural geology and energy mix as a competitive edge. Not trying to clone models from elsewhere they’re making something that fits where they are. I like this kind of work. It’s honest. Capital-intensive, science-heavy, long-term. Not the easiest path for a startup but arguably one of the most impactful. You don’t see many climate-tech teams going this deep into engineering. But maybe we’ll start seeing more. Props to the Octavia Carbon team. #climatetech #carbonremoval #hardtech #directaircapture #kenyatech #deeptech #startups #founderenergy #africa

The May/June 2024 issue of Turbomachinery International features two particularly interesting stories this month in addition to a collection of the industry’s latest news and products, show coverage from CERAWeek and WTUI Western Turbine Users, and several feature articles focusing on #CarbonEmissions. 1️⃣ The cover story, "Carbon Capture and Storage is on the Rise", tracks the growth of #CarbonCapture and storage facilities (CCS)—both in development and in the pipeline—on a global scale. The authors highlight countries leading the way for carbon-capture development, a rise in networks and hubs, and a spotlight on project financing and investment in developing economies that are needed to advance CCS deployment through 2030 and beyond. 2️⃣ The tour of GE Vernova’s Gas Turbine Manufacturing Facility in Greenville, SC led the team through numerous innovative spaces, including the #manufacturing shop floor, Test Stand 7, a #GasTurbine outage simulator, and the combustion testing lab and control center. Gas turbine development, testing, and assembly are united by a single “#lean” methodology to eliminate waste across the board—now a primary focus of GE Vernova as a standalone company. Read the issue below or visit the magazine on-line at: https://lnkd.in/eh_3AWqJ