Carbon Capture, Utilization and Storage Projects for BRICS
The main problem targeted by the Carbon Capture project is the excessive level of CO2 in the atmosphere, which contributes to global climate change. To achieve "carbon neutrality" by 2050 and limit the temperature increase to about 1.5-2 degrees Celsius, we need to reduce emissions by 50% by 2030. Calculations show that within 6 years, to meet the goals of the PARIS AGREEMENT, we need to halve our emissions. This equates to approximately 7% per year, which is nearly impossible using known energy-saving methods or even modern energy transition technologies. The most ambitious plans aim for carbon neutrality by 2050, but only for the most developed or very small countries. The solution involves Direct Air Capture (DAC) technology, which removes CO2 from the air and either stores it or uses it for industrial purposes. This system is scalable and modular, allowing it to be produced, upgraded, and deployed in various climate conditions with minimal costs.
Climate And Environmental Technologies
Climate change control technologies
The estimated duration of a DAC project implementation, from planning to operational status, typically takes 3 to 5 years. This includes time for design, licensing, construction, and system deployment. Some of the first commercial-scale systems are expected to be operational by the second half of 2024.
The direct carbon capture project is being developed in collaboration with the Climate Initiative Association and the Chinese company CNSG, which is currently negotiating the rights to use Carbon Capture technologies with its partners in the U.S., particularly the "Bison" project in Wyoming, aimed at capturing and storing 5 million tons of CO2 by 2030. The collaboration with Chinese companies is centered around plans to involve advanced achievements not only from China but also from Russian companies related to converting carbon from gaseous to solid state. CNSG plans to deploy DAC systems in partnership with CarbonCapture Inc. by 2025.
The competitive advantages of the Carbon Capture project include the modular open systems architecture (MOSA), which allows for scalable production and continuous technological updates (presentation, slide 4), as well as the integration of advanced sorbents, adaptation to various climate conditions, and eligibility for government subsidies (preliminarily, $180 per ton of CO2), making the project extremely cost-effective. A significant advantage is the ability to combine the technological and resource capabilities of various countries with large corporations. Strong government support will ensure the effective development of the carbon asset market, which is being discussed at summits in 2024.
CarbonCapture Inc. has received notable recognition, including being awarded the "Technology Pioneer" award by the World Economic Forum (WEF). This recognition highlights the company's innovation in carbon capture technology and strengthens investor and industry confidence. Additionally, media coverage of CarbonCapture’s partnerships with major companies like Microsoft, Amazon, and Saudi Aramco has further raised its profile in the green technology space.
N.A.
