1/23/2024 0 Comments Carbon sequestration companies![]() The company recently raised $650 million in funding, the largest ever for a startup in the carbon removal sector. ClimeworksĬlimeworks is another established carbon sequestration company that uses direct air capture (DAC). One of their current key projects is the Brevik cement plant which has a CO2 sequestration capacity of 400,000 tons per annum. Though it was only established in 2020, it uses technology that has been developed by Aker for over 10 years. They also offer offshore and integrated solutions. Its key offerings include modular solutions that are easy to transport and install. The company uses their proprietary carbon capture solution to capture CO2 from waste flue gases from a variety of industries such as oil refineries and cement plants. It was listed in the Oslo Stock Exchange in 2020, and has a current market cap value of $750.65 million. It is one of the few publicly traded companies in the sector. ![]() Here are the top 5 carbon sequestration companies to watch for in 2023: Aker Carbon Captureįounded: 2020 A subsidiary of Aker Solutions, Aker Carbon Capture is one of the largest and most established of the carbon sequestration companies. This includes capturing carbon dioxide using large fans, changing the pH of the ocean to store more CO2 to recycling carbon emissions in cement production. The current carbon removal and sequestration market explores a broad range of technologies. That removal capacity should double per year by 2100 as shown in the chart below. Scientists estimated that the world has to remove up to 10 GtCO2 annually from the atmosphere by 2050 to decarbonize. Hence, carbon sequestration and removal needs to scale up significantly to remove existing emissions and halting continuing carbon emissions. The pace of developing renewable technologies cannot keep up with the rate at which the world is emitting carbon dioxide. What countries around the world have discovered is that this goal is not achievable by implementing renewable technologies alone. This means that we can only afford to emit 400 gigatons of carbon emissions to stay under this limit. The Paris Agreement signed in 2016 set out an ambitious goal: to ensure that an increase in the average global temperature stays under 2C, ideally 1.5C. The main reason is that carbon sequestration technologies are not just beneficial to honoring our climate commitments, but crucial. The market for carbon sequestration has enjoyed an exponential growth in recent years, attracting vast interest from investors and governments.
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