In a world increasingly affected by climate change, Removing carbon dioxide from the atmosphere has become a crucial goal. This week, the technology to achieve this feat took a significant step forward. Climeworksa pioneering Swiss startup in the construction of commercial scale direct air capture (DAC) plants, has announced improvements that They will capture twice as much carbon dioxide at considerably lower cost and energy consumption. This breakthrough not only represents a technological milestone, but also renewed hope for climate change mitigation.
Last month, Climeworks opened in Iceland the largest direct air capture facility in the world. This project is complemented by the planning of a new “generation 3” plant in Louisianawhich has a $50 million grant from the US Department of Energy.
These plants together are capable of extracting approximately 40,000 tons of carbon dioxide per year, a small percentage compared to the emissions of a typical power plant. However, new technology has the potential to increase this capacity to several million tons per year, according to Jan Wurzbacher, co-founder and co-CEO of Climeworks.
Despite these advances, carbon capture technology still does not reach the levels necessary to keep global temperatures within the goals of the Paris Agreement. Currently, about two billion tons of carbon dioxide are removed from the atmosphere annually, most through tree planting. However, by 2050, between 7 and 9 billion tons per year will need to be eliminated, a goal that seems distant given the current situation of the industry.
One of the biggest obstacles to the expansion of carbon capture is its high cost and the shortage of clean electricity to operate the facilities.. Although Climeworks has managed to justify the construction of its first plants thanks to government subsidies and a small cohort of corporate buyers, the company’s future depends on the profitability of its future plants. Wurzbacher warned that without profitable investments, it will be impossible to finance new facilities.
Closing the carbon removal gap requires more direct government intervention. According to Wil Burns, co-director of the Institute for Responsible Carbon Elimination at American University, the only way to drive the necessary purchase of carbon credits is through policies that force polluting companies to buy these credits. Without such measures, the voluntary carbon credit market is insufficient to make the industry scalable and profitable.
The sustainability of the carbon removal industry faces other challenges as well. The expansion of tree plantations or crops intended to absorb carbon can reduce food supplies and pose a threat to biodiversity. Additionally, there is a shortage of funding for early-stage carbon removal startups, further complicating the growth of this industry crucial to the future of the planet.
The Oxford University report highlights that unless significant action is taken, the carbon removal industry will fall far short of the targets needed to mitigate climate change. Despite promises and technological advances, lack of financing, government support, and operational challenges call into question this industry’s ability to meet expectations. Carbon removal, while crucial, should not be seen as a one-off solution, but as part of a broader global effort to reduce emissions and protect our planet.
