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Climeworks

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technology1 year ago

Climeworks Unveils Cost-Cutting Next-Gen Carbon Capture Tech

Climeworks has unveiled its Generation 3 direct air capture technology, which significantly enhances CO₂ capture efficiency and reduces costs. This new technology, featuring novel structured sorbent materials in modular cubes, will first be deployed in the U.S. and then globally. The advancements include doubling CO₂ capture capacity, halving energy consumption, and extending material lifespan, aiming for substantial cost reductions by 2030. The first large-scale implementation will occur in 2024 in Switzerland, with further projects planned in the U.S., Norway, Kenya, and Canada.

via Climeworks|
#carbon-removal#climate-change#climeworks
environment1 year ago

Climeworks Unveils Cheaper, Faster Carbon Capture Tech

Climeworks has unveiled its Generation 3 direct air capture (DAC) plant, which promises to halve both energy use and costs compared to older models. This advancement could make DAC a more viable solution for reducing atmospheric CO2, though current costs and energy demands remain high. The Biden administration and major companies are investing in this technology, with Climeworks planning to deploy its new plant in Louisiana and expand globally.

via The Verge|
#carbon-capture#climate-change#climeworks
environment2 years ago

JPMorgan invests $200 million in carbon removal to achieve net zero emissions.

JPMorgan Chase has agreed to spend over $200 million on carbon removal technologies, with the first $75 million announced in April. The investment will be allocated to long-term agreements to remove and store the equivalent of 800,000 metric tons of carbon dioxide from the atmosphere. The move is both a support for the nascent carbon removal industry and will enable the bank to remove the equivalent of the carbon emissions that are otherwise hard to abate from its direct operations by 2030. JPMorgan has signed a $20 million, 9-year agreement with Climeworks and a deal with Charm Industrial to remove and store the equivalent of approximately 28,500 metric tons of carbon dioxide over 5 years.

via CNBC|
#carbon-removal#charm-industrial#climate-change
climate-change2 years ago

JPMorgan Chase invests heavily in carbon removal technology.

JPMorgan Chase has agreed to purchase carbon dioxide removal (CDR) services from Climeworks, a global leader in direct air capture and storage, for over $20m. The agreement is one of the largest purchases of CDR services from a corporate buyer to date and demonstrates the bank's support for Climeworks' high-quality and high-integrity approach to removing CO2. The agreement sets a new standard for the voluntary carbon market and is essential for CDR companies to bring economies of scale needed by 2050.

via Climeworks|
#carbon-dioxide-removal#climate-change#climeworks