Climeworks, the Switzerland-based climate technologies company, announced the beginning of its upcoming Mammoth carbon capture plant. The Mammoth plant will leverage Direct Air Capture (DAC) technology to remove thousands of tons of carbon dioxide from the atmosphere each year. Currently, the largest DAC plant in operation by Climeworks captures approximately 4,000 tons of CO2, meaning the Mammoth plant will significantly surpass these numbers.
The Mammoth plant is being constructed in Hellisheioi, Iceland, accelerating the rate of carbon removal in the region. In terms of its concrete environmental impact, the existence of the Mammoth is expected to be the equivalent of removing nearly 9,000 cars off of the road.
As for the use case for the captured CO2, Climeworks has partnered with Occidental to use some of the captured carbon for the purpose of injecting it into the ground to access oil deposits.
Large Carbon Capture Plants
Climeworks Announced the Beginning of its 'Mammoth' DAC Plant
Trend Themes
1. Direct Air Capture (DAC) Technology - Increasing demand for carbon capture will accelerate innovation in Direct Air Capture Technology.
2. Large-scale Carbon Capture Plants - Efficient and large-scale carbon capture plants will become more common with increasing demand from industries and governments for carbon neutral solutions.
3. Carbon Sequestration Partnerships - Partnerships between carbon capture developers and industries that can utilize the captured CO2 will create new sustainable solutions.
Industry Implications
1. Energy and Utilities - The energy and utilities industry will need to invest in large-scale carbon capture plants to achieve carbon neutrality.
2. Oil and Gas - Carbon capture solutions could create new opportunities for the oil and gas industry to access additional oil deposits.
3. Manufacturing - Manufacturing industries can incorporate carbon capture solutions to achieve carbon neutrality and reduce their footprint.