Berliner Boersenzeitung - US to invest $1.2 bn on facilities to pull carbon from air

EUR -
AED 4.115293
AFN 71.716802
ALL 91.011256
AMD 403.562021
ANG 2.005577
AOA 1028.68237
ARS 1713.195177
AUD 1.594208
AWG 2.019825
AZN 1.909415
BAM 1.957737
BBD 2.257204
BDT 139.127639
BGN 1.958565
BHD 0.423134
BIF 3363.247326
BMD 1.120569
BND 1.431761
BOB 13.588807
BRL 6.094441
BSD 1.120744
BTN 106.356015
BWP 15.483871
BYN 3.301269
BYR 21963.14421
BZD 2.25391
CAD 1.566051
CDF 2594.116673
CHF 0.923171
CLF 0.028178
CLP 1112.6354
CNY 7.464224
CNH 7.454829
COP 3607.569699
CRC 509.620086
CUC 1.120569
CUP 26.895608
CVE 110.373701
CZK 24.44637
DJF 199.147889
DKK 7.504901
DOP 67.929628
DZD 152.176216
EGP 62.45874
ERN 16.808529
ETB 180.928952
FJD 2.514224
FKP 0.83779
GBP 0.836432
GEL 2.917805
GGP 0.83779
GHS 13.056266
GIP 0.83779
GMD 82.922473
GNF 9918.812714
GTQ 8.567476
GYD 234.908685
HKD 8.792262
HNL 30.1218
HRK 7.58514
HTG 146.830501
HUF 367.479695
IDR 20320.110526
ILS 3.523696
IMP 0.83779
INR 106.361573
IQD 1698.880708
IRR 2093687.147765
ISK 136.519303
JEP 0.83779
JMD 178.085386
JOD 0.794527
JPY 176.579628
KES 145.528673
KGS 97.99227
KHR 4572.584882
KMF 494.171137
KPW 1008.51168
KRW 1494.188988
KWD 0.348688
KYD 0.93392
KZT 508.132697
LAK 25232.86367
LBP 100357.670957
LKR 372.758771
LRD 190.505918
LSL 18.676176
LTL 3.308748
LVL 0.677821
LYD 7.204095
MAD 11.019052
MDL 20.060562
MGA 5069.195923
MKD 61.640982
MMK 2353.092792
MNT 4031.674913
MOP 9.055638
MRU 45.444581
MUR 52.980907
MVR 17.313208
MWK 1942.874107
MXN 21.05179
MYR 4.547496
MZN 71.615961
NAD 18.676176
NGN 1508.812401
NIO 41.2408
NOK 10.31876
NPR 170.169424
NZD 1.98612
OMR 0.430765
PAB 1.120849
PEN 3.878837
PGK 5.100023
PHP 71.4525
PKR 310.030214
PLN 4.423165
PYG 6565.495266
QAR 4.085242
RON 5.358787
RSD 117.944123
RUB 89.982772
RWF 1654.314474
SAR 4.207062
SBD 9.029773
SCR 15.41855
SDG 674.026121
SEK 11.010935
SGD 1.432875
SHP 0.838561
SLE 25.665129
SLL 23497.767811
SOS 640.442165
SRD 42.155234
STD 23193.507231
STN 24.525029
SVC 9.805701
SYP 14569.632352
SZL 18.671138
THB 37.785986
TJS 10.315567
TMT 3.92199
TND 3.351315
TOP 2.69806
TRY 55.955484
TTD 7.598517
TWD 36.55452
TZS 2959.64354
UAH 50.831102
UGX 4762.860677
USD 1.120569
UYU 45.056183
UZS 13441.777814
VES 994.481985
VND 28914.591409
VUV 133.591345
WST 3.108346
XAF 655.957
XAG 0.022814
XAU 0.000289139815
XCD 3.028393
XCG 2.019698
XDR 0.7923
XOF 655.957
XPF 119.331742
YER 264.68232
ZAR 18.744249
ZMK 10086.465938
ZMW 22.598962
ZWL 360.822626
SSP 6437.889567
MXV 2.372651
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

US to invest $1.2 bn on facilities to pull carbon from air
US to invest $1.2 bn on facilities to pull carbon from air / Photo: Patrick T. Fallon - AFP/File

US to invest $1.2 bn on facilities to pull carbon from air

The US government said Friday it will spend up to $1.2 billion for two pioneering facilities to vacuum carbon out of the air, a historic gamble on a still developing technology to combat global warming that is criticized by some experts.

Text size:

The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per year, equivalent in total to the annual emissions of 445,000 gas-powered cars.

It is "the world's largest investment in engineered carbon removal in history," the Energy Department said in a statement.

"Cutting back on our carbon emissions alone won't reverse the growing impacts of climate change," Energy Secretary Jennifer Granholm said in the statement. "We also need to remove the CO2 that we've already put in the atmosphere."

Direct Air Capture (DAC) techniques -- also known as Carbon Dioxide Removal (CDR) -- focus on that CO2 emitted into the air, which is helping to fuel climate change and extreme weather.

Each of the projects will remove 250 times more CO2 from the air than the largest carbon capture site currently in operation, the Energy Department said.

The UN's International Panel on Climate Change (IPCC) considers capturing carbon dioxide directly from the atmosphere one of the methods necessary to combat global warming.

But the sector is still marginal -- there are just 27 existing carbon capture sites commissioned worldwide, according to the International Energy Agency, though at least 130 projects are under development.

And some experts worry that use of the technology will be a pretext for continuing to emit greenhouse gases, rather than switching more quickly to clean energies.

Direct capture "requires a lot of electricity for extracting CO2 from the air and compressing it for pipes," Stanford University professor Mark Jacobson told AFP.

"Even in the best case, where the electricity is renewable, that renewable electricity is then prevented from replacing a fossil electricity source on the grid, such as coal or gas."

That means such technology is nothing more than a "gimmick," he said, adding: "It will only delay our solution to the climate problem."

- Storing CO2 underground -

US non-profit Battelle is the prime contractor on the Louisiana project, which will inject captured CO2 for storage deep underground.

It will partner with another American company, Heirloom, and the Swiss firm Climeworks, already a sector leader that operates a plant in Iceland with an annual capacity to capture 4,000 tons of CO2 from the air.

The Texas project will be led by the American company Occidental and other partners, including Carbon Engineering. It could be developed to eliminate up to 30 million tons of CO2 per year, according to a statement from Occidental.

"The rocks in the subsoil of Louisiana and Texas are sedimentary rocks, very different from Icelandic basalts, but they are perfectly viable for storing CO2," Helene Pilorge, an associate researcher at the University of Pennsylvania studying carbon capture, told AFP.

The two projects should create 4,800 jobs, according to the energy department. No start date is yet confirmed for either.

They will be funded by President Joe Biden's major infrastructure bill passed in 2021.

The Energy Department previously announced plans to invest in four projects to the tune of $3.5 billion.

Direct capture differs from carbon capture and storage (CCS) systems at source, such as factory chimneys, which prevent additional emissions from reaching the atmosphere.

In May, the Biden administration announced a plan to reduce CO2 emissions from gas-fired and coal-fired power plants, focusing in particular on this second technique.

(A.Lehmann--BBZ)