HomeCarbon NewsInvestors Lining up to Remove Carbon Dioxide from the Air

Investors Lining up to Remove Carbon Dioxide from the Air

Climate change will not stop because of a singular method. New laws, protocols and mandates are effecting that carbon emissions need to be reduced. The means include tariffs, reduced emissions and planting more trees.

To meet the goal of limiting the global temperature to 1.5 degrees Celsius above pre-industrial levels, all possible methods must be explored.

A new method has emerged that could be a leading method to limiting temperature increases called direct air capture.

A company called Climeworks is operating a plant in Switzerland to remove carbon emissions from the atmosphere. According to Climeworks, they remove 900 tons of carbon dioxide annually. Switzerland produces 40 million tons of C02 every year. This may seem small at first glance, but the technology is in its infancy and has ample room to grow.

Climeworks has attracted many investors to its cause. Notable investors include names such as Microsoft and Shopify. This has allowed to Climeworks to begin construction on a new plant in Iceland.

A positive of direct air capture is ability to reuse carbon dioxide in industrial processes. Coca-Cola purchases carbon dioxide from Climeworks. Large oil companies as well use the extracted gases to obtain oil from the ground.

Not only can Climeworks sell actual carbon dioxide, but they are also able to sell carbon credits they gain from removing greenhouse gases from the atmosphere. This is a huge factor in attracting investors.

While it would require significant investment to reach a point where direct air capture would make a dent in climate change, it does offer a solution.

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