Canadian company Carbon Engineering has created direct air capture (DAC) technology, which can remove Carbon Dioxide (CO2) from the air at an affordable price. Backed by multi-billionaire Bill Gates and many major energy companies, CE is set to deploy its first production infrastructure in 2021.
Carbon Engineering is currently in the initial process where they will run analysis on data collected from the pilot program. The company is set to remove one million ton of CO2 yearly, which is equivalent of emission from 250 thousand cars or carbon captured by 40 million trees’.
Captured CO2 which cost $100-150 per ton will be stored in a compressed state. Using AIR TO FUEL technology which combines it with hydrogen, generated by renewable electricity. The fuel is expected to be sold for $1/L.
Relatively unknown Carbon Engineering has managed to gain funding by Melbourne, BHP Group, Chevron Corp, Occidental Petroleum Corp.
“For CE, this investment enables us to aggressively accelerate our go-to-market strategy. We are now actively seeking strategic partners to work with us to build full-scale commercial facilities and customers interested in supply agreements for our ultra-low carbon fuel.” said Steve Oldham, CEO of Carbon Engineering.