Carbon capture technology companies are central to meeting the aims of the Paris Agreement. 195 countries signed the Paris Agreement in 2016, committing them to keep the global temperature rise to below 2 degrees Celsius above pre-industrial levels and to limit the temperature increase to 1.5 degrees Celsius. Fundamental to curbing the temperature rise is the reduction in emissions of long-lasting greenhouse gases, for example, carbon dioxide (CO2).1 The Intergovernmental Panel on Climate Change (IPCC) has demonstrated that carbon capture technology companies are likely to be fundamental for preventing the increase in global temperature and are especially useful in decreasing the cost of mitigating climate change.2
This article examines ten companies at the forefront of carbon capture technology. These carbon capture technology companies use innovative ways to capture waste CO2 – often produced by factories and power plants.3 They either store the waste CO2 to keep it out of the atmosphere or recycle it for reuse. The following have been included in this list either for their immense contribution to carbon capture and storage or conversion on a global scale or for their innovative methods to reduce CO2 emissions.
Global Thermostat – direct air carbon capture
Global Thermostat has developed direct air capture technology to pull in air through giant fans and subsequently soak up the CO2 in chambers.4 When attached to power plants, the process uses their leftover heat to grab their CO2 pollution, which can then be sold on to other companies as a further power source.4 Global Thermostat’s facility in Alabama is currently the largest commercial plant of its kind worldwide and it can capture 4,000 tons of CO2 annually – approximately the same amount produced by 870 cars.5 By cogenerating carbon capture and power, Global Thermostat is both removing CO2 from the air and utilizing it for practical purposes.
Newlight Technologies – carbon capture and conversion
Newlight Technologies is another company that converts waste carbon into a new and practical product, in their case AirCarbon™. AirCarbon™ is a biodegradable energy material that can be used for creating both fibers and solid parts.6 The everyday uses of AirCarbon™ should not be underestimated, as it is being used to produce packaging, furniture, and electronics accessories among other products.7 Consequently, Newlight Technologies has won numerous awards for their breakthrough technology, for instance, the Innovation Prize for “Biomaterial of the Year 2013″ by the Nova Institute.8
Carbon Upcycling Technologies – carbon capture for profit
Carbon Upcycling Technologies chemically adsorbs CO2 emissions into materials such as polyethylene to create a much stronger product than traditional methods.9 Not only does this capture and store CO2, but the product is also produced more quickly, it requires fewer labor and operating costs, and the product lasts longer.9 The success of Carbon Upcycling Technologies’ business model was soon evident. In 2017, they became the youngest CO2 capture and utilization company to begin generating commercial revenue.10
DyeCoo – textiles, and carbon capture technology companies
Netherlands-based DyeCoo has developed a unique technology that uses CO2 to pressurize powdered dye into fabrics without needing water.11 Their system recycles 95 percent of the CO2 for re-use, thereby utilizing the greenhouse gas for a practical purpose whilst reducing water, energy, and chemical waste.11 This is an important technology for the textiles industry whose current dyeing techniques deposit effluents of unabsorbed dyes, chemicals, and heavy salts into rivers and waterways.12 However, the major limitation for DyeCoo is that its process can only be used for dyeing polyester.
Climeworks – carbon capture anywhere
Another direct air capture technology, Climeworks stands out because its carbon removal technology does not require water or arable land and consequently has a small physical footprint.13 By installing their machines on the roofs of power plants, they tap into the plant’s own low-carbon electricity and the heat from its incineration system.14 Using their power, Climeworks’ machines suck air into ducts and over a reusable filter material to chemically bind the CO2. It is then heated to release the high-purity captured gas which can then be repurposed, for instance for beverages or fertiliser.14
Carbicrete – carbon capture technology companies in the construction
Cement is a key ingredient when making concrete. However, to produce cement, a great deal of CO2 is also released.15 To overcome this, Carbicrete has patented technology to produce cement-free and carbon-negative concrete.16 They use a by-product of the steel-making process (that is also cheaper than cement) and captured CO2.17 Not only does Carbicrete avoid the usual cement production emissions, it also captures CO2, thus meaning products made in this way are carbon-negative, sequestering CO2 in the process.16 In addition to being a far more environmentally friendly technique, Carbicrete’s products are cheaper to make and are more durable.17
Chevron – Gorgon gas fields project
Energy company Chevron manages one of the world’s largest carbon capture projects in Australia’s Gorgon gas fields. These gas fields have been responsible for a massive amount of CO2 being released into the atmosphere as the natural gas there is extracted.18 But, to reduce Gorgon’s carbon footprint by around 40 percent, Chevron is now injecting compressed CO2 in a sandstone reservoir nearby on Barrow Island. The massive amount of CO2 being captured makes it the third-largest carbon capture and storage project in the world.19
However, Chevron’s CO2 capture and storage project only began in 2019 and was beset by delays.18 Indeed, half of Australia’s increase in annual carbon dioxide emissions between 2017 and 2018 has been linked to Chevron and its partner’s failure to initiate the project sooner.18
SaskPower – scaling carbon capture technology companies
In 2014, SaskPower’s Boundary Dam Power Station in Canada became the first power station in the world to successfully deploy carbon capture and storage technology.20 The facility captures CO2 emissions and also removes sulfur and other waste products. Subsequently, the CO2 is either reused for enhanced oil recovery (EOR) or else is injected deep underground to permanently separate it from the atmosphere.21
Nevertheless, the Boundary Dam Power Station’s carbon capture and storage technology have faced frequent and significant obstacles. Issues with the plant have often forced it to shut down and instead of capturing 90 percent of CO2 emissions, around half as much has been captured.22 As such, SaskPower is closing down Boundary Dam units 4 and 5 at the plant, instead of transforming them to use carbon capture and storage technology.23
NRG Energy – carbon capture for coal
NRG Energy is also at the forefront of global carbon capture technology companies. In 2017, their Petra Nova coal-fired power plant was one of only two power plants with carbon capture and storage capabilities.24 Coal-fueled power plants are one of the most environmentally damaging power sources currently in use, therefore mitigating their CO2 emissions is of critical importance. The Petra Nova plant routes part of its emissions to a filtration system to isolate and compress the CO2 for liquidation. It is then pumped 5,000 feet beneath the West Ranch Oil Field where it combines with oil to lower its density. When this oil is extracted, the CO2 is separated from the oil, greatly increasing oil production.25
Nevertheless, NRG Energy’s carbon capture technology has fallen short of expectations at the Petra Nova plant. Despite claiming their technology could capture 90 percent of carbon emissions at the plant, Petra Nova captured between 65 percent and 70 percent of the plant’s CO2.26 These figures also fail to take into account emissions from the natural gas turbine that runs the carbon capture equipment. Once these emissions are considered, the effective capture rate at Petra Nova is reduced to about 50 percent.26