![]() So far, Climeworks has sold the collected CO2 to greenhouses and carbonated beverage companies. It uses its modular CO2 collectors, where large industrial fans draw in CO2-containing air into the plant, and a CO2-selective filter separates the carbon dioxide. 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 2024: 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 renewables 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. Together they will explore how we can rapidly accelerate the deployment and commercialisation of carbon removal technologies as a key solution on the path to net zero carbon emissions.The market for carbon sequestration has enjoyed an exponential growth in recent years, attracting vast interest from investors and governments. The two-day event will bring together leading engineering companies, manufacturers and technology providers, energy companies, the oil and gas sector, heavy industry, chemical companies, various manufacturing organisations, research groups and NGOs, consultants and government agencies. ![]() Carbon Capture Expo Europe is a solutions forum where the development of new technologies to overcome these technical challenges and boost carbon capture in stationary and mobile applications will be discussed. However, a number of technical and economic challenges need to be overcome before carbon capture can become a major contributor to the reduction of global carbon emissions. The concept of carbon capture is nothing new. It is the world’s largest exhibition and conference dedicated to discussing the increasingly important role that carbon capture, utilisation and storage will play in the transition to a net zero carbon economy. On 27-28 September 2023, the Carbon Capture Technology Conference & Expo Europe will be held at Messe Bremen, Germany.
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