The fight against climate change is gaining momentum as more individuals and organizations recognize the urgent need to reduce carbon emissions. Carbon capture is one solution that has been gaining traction in recent years as more innovative startups are entering the industry. Carbon capture involves the capture of carbon dioxide (CO2) emissions from power plants and industrial facilities before they reach the atmosphere, followed by their transportation to storage sites. This technology is critical to achieving net-zero emissions and slowing the rise of global temperatures. But what are the most innovative carbon capture startups and their unique technologies, funding, and potential impact on the industry? Learn more about them!
Leading charge innovators on the carbon capture technology landscape
Climate change and its devastating effects on the environment are compelling people across the globe to find solutions that can reduce the carbon footprint. Carbon capture startups have emerged as a new hope in the fight against climate change.
These companies offer technological solutions that can capture carbon dioxide emissions from industrial processes and store them in geological formations or use them in other beneficial ways.
Here are five leading charge innovators that are great examples of carbon capture technologies developers.
1 – Carbon Clean Solutions
Carbon Clean Solutions is a London-based firm that has developed a patented technology called Carbon Clean. This technology uses proprietary solvents to capture up to 90% of CO2 emissions from industrial processes.
The captured CO2 is then used for enhanced oil recovery or permanently stored underground. Carbon Clean Solutions has secured $13 million in funding from several investors, including the oil and gas company, Equinor, and the clean energy investment firm, Marubeni.
The company has already installed over 20 carbon capture projects globally and has set a target to capture 1 billion tons of CO2 by 2040.
2 – Carbon Engineering
Carbon Engineering is a Canadian-based company that was founded in 2009. It has developed a Direct Air Capture (DAC) technology that can capture CO2 directly from the atmosphere. The captured CO2 can be used to produce low-carbon fuels, such as synthetic gasoline and diesel.
Carbon Engineering has received funding from several investors, including Bill Gates, who has invested over $100 million in the company. The company aims to commercialize its technology and capture 1 trillion tons of CO2 by 2050.
3 – Svante
Svante is a Canadian-based carbon capture startup that has developed a unique modular point source technology. Svante’s technology uses adsorption technology to capture CO2 emissions from industrial processes at high temperatures, making it more efficient than traditional carbon capture technologies.
The captured CO2 can be used for enhanced oil recovery or permanently stored underground. Svante has raised over $100 million in funding to date and has partnered with several companies, including LafargeHolcim, one of the world’s largest cement producers.
4 – Global Thermostat
Global Thermostat is a US-based carbon capture startup that has developed a patent technology that can capture CO2 from the atmosphere using a proprietary sorbent material. The captured CO2 can be used to produce low-carbon fuels and chemicals or permanently stored underground.
The company has raised over $50 million in funding to date, and its technology has been deployed in various projects, including a partnership with ExxonMobil for a pilot project that captures CO2 from industrial processes.
5 – Climeworks
Climeworks is a Swiss-based carbon capture company that captures CO2 directly from the air using a patented technology called Direct Air Capture (DAC). Their technology comprises a series of modular, filter-like collectors that capture CO2 from ambient air.
The captured CO2 is then absorbed by a solution and transported into an electrolysis unit. The unit converts CO2 into mineralized form, which can be buried underground for permanent storage.
Climeworks has received funding from investors like Zephr, Recovery Partners, and Firstminute Capital. Their technology has the potential to capture 500,000 tonnes of CO2 emissions per year, which is equivalent to removing 200,000 automobiles from the road.
Investments on the carbon capture sector can spur new and innovative iniatives that can help solve the climate change problem
In conclusion, the carbon capture industry is rapidly growing, thanks to the innovations of these startups and the rising demand for decarbonization solutions. These startups have proven that carbon capture is not only an effective way of reducing carbon emissions but also a viable business opportunity.
With the right support and funding, these startups and other great initiatives around the world can expand their technologies and make carbon capture more accessible and affordable to industries worldwide.
As we continue to accelerate our efforts to combat climate change, carbon capture will play a vital role in achieving a sustainable future.
