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Companies doing carbon capture3/8/2024 ![]() Implementation of CCUS, paired with proactive policies, can deliver large-scale solutions that help us meet 1.5☌ scenarios, drive exponential advances in technical capabilities and achieve net-zero or beyond. One of the most exciting areas of development involves CCUS-which provides a proven pathway for near-term emission reduction. A big part of this innovation involves removing emissions directly from the atmosphere right now, while simultaneously working toward global commercialization of alternative fuels and materials. But as Nikki Mandow finds out, others have very different opinions. The energy sector wants the Government to urgently introduce regulations enabling carbon capture and storage in New Zealand, as a way to cut CO2 emissions. Elon Musk recently pledged 100m (£72m) to develop carbon capture technologies, while companies such as Microsoft, United Airlines and ExxonMobil are making billion-dollar investments in the field. Climeworks is among the first companies to try to commercialize it. Polarising carbon capture tech back on NZ radar. Oxy is developing numerous nascent technologies and approaches to help find net-zero fuel solutions. But today, so-called DAC technology is in its infancy. ![]() But until human ingenuity gets us there, it’s our collective responsibility to implement solutions that reduce emissions today. ![]() Global society is working hard to develop energy sources, technologies, processes, feedstocks and materials that don’t rely on hydrocarbons. With funding from the DOE, engineering and construction company Black. 50 of the emission reductions needed to reach net-zero by 2050 rely on technology not ready for market. Occidental Petroleum has staked out the lead in the direct air capture business in the U.S. The firm behind the Tuticorin process says its chemicals will lock up 60,000 tonnes of CO2 a year and the technology is attracting interest from around the world. And the Bipartisan Infrastructure Law signed into law in 2021 includes 12 billion for capturing and storing carbon dioxide. Launching at COP26, the First Movers Coalition brings the collective purchasing power of global companies to drive market demand for low-carbon tech. Large-scale carbon capture, utilization and storage (CCUS) is essential for practical progress in near-term emissions reduction. Direct air capture is a new technology that vacuums carbon dioxide out of the atmosphere.
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