Two companies with different climate technologies — trapping emissions from industrial plants and removing CO2 already in the atmosphere — are teaming up.
By working together, the two companies (Canadian firm Svante and the Swiss company Climeworks AG) can accelerate the development and adoption of both technologies for customers across a range of industries and applications.
This a pretty novel relationship and a great example of how companies can share costs (permitting, infrastructure, financing, etc.) by developing in tandem.
Atmospheric and point source carbon capture are both interesting technologies to keep an eye on. Almost all modeled emissions scenarios consistent with meeting the Paris agreement goals envision some level of carbon capturing and negative emissions technologies.
Forgetting renewable energy for a moment, to really fight climate change, the world needs to focus far more on cutting its emissions from oil, natural gas and coal.
Like adding salad to your pasta doesn’t help you lose weight, adding cleaner energy to a world run on fossil fuels won’t cut greenhouse gas emissions.
Renewable energy will make up nearly 50% of global electricity within the next 30 years, up from today’s 28%, according to recent data from the U.S. Energy Information Administration. That’s great but it’s not enough.
With global energy demand increasing and carbon dioxide emissions rising over that same time period, it’s vital we also figure out how to use less fossil fuels.
There is some scepticism surrounding CC&S - currently all the carbon capture tech in the world removes about 0.1% of global emissions and nearly all captured CO2 is used to extract more oil out of the ground (you know, the stuff that drives up CO2 in the first place!) I don't know if it will be the silver bullet to save us but we definitely need multiple options than can make a dent.
A little less Pasta and a lot more salad - climate change is far more complicated and challenging than your diet, but you get the idea.
Hyperion Search are partnering with companies across the world who are developing breakthrough technology in the fight against climate change. Please get in touch if you’d like to learn more.
Noah Deich, executive director of the group Carbon180, tells me there's a logic behind the pairing and called the effort "pretty novel." "Atmospheric and point source capture are both essential for meeting climate goals, and there are a lot of ways that atmospheric and point-source projects can share costs (permitting, infrastructure, financing, etc.) by developing in tandem," he said via email.