HomeCarbon CreditsWorld’s Largest Carbon-Removal Machine Makes Debut

World’s Largest Carbon-Removal Machine Makes Debut

There is no question about it: carbon must be removed from the atmosphere to stop global warming. This can be achieved through carbon offsetting, which, though highly effective, is a longer process, and through “direct air capture” (DAC).

If you are wondering what DAC is, you are not alone. DAC is essentially massive CO2-vacuums that suck carbon out of the air immediately.

The largest DAC plant in the world made its debut in Iceland this week and is operated by the Swiss engineering startup Climeworks. The plant, known as Orca, will draw in a volume of emissions equal to approximately 870 cars annually. It will reach global capacity by about 50%, adding a dozen smaller plants throughout Europe, Canada, and the US.

Each plant is composed of eight container-sized boxes that use fans to pull in air. CO2 is then filtered out, mixed with water, and pumped into underground wells, where after some time, it turns into stone.

The objective is to sell the captured CO2 stones to manufacturers that can use them for raw materials. The price per carbon unit seized and then converted is currently unknown.

Before launching Orca, Climeworks signed a deal with insurance company Swiss Re for an undisclosed volume of carbon offsets. Though the price per ton hasn’t been made public, Swiss Re press release stated it was “several hundred dollars.”

Though DAC provides an excellent alternative to carbon offsetting, critics aren’t so sure. The cost of building and operating these machines can be exponential. Plus, to be truly effective, the DAC industry will need to remove nearly 10 million tons of carbon per year by 2030, which is a long way away.

With more premium offset projects entering the global carbon market, offsets are uniquely positioned to benefit companies and farmers alike.  Still, DAC is an essential aspect of combating climate change. It can remove carbon at a faster rate while providing companies with eco-friendly materials.

Combined, DAC and carbon offsetting have the potential to make a real difference, helping the world achieve net-zero goals.

Most Popular
LATEST CARBON NEWS

A $1.46 Billion Boost for First-of-Its-Kind Carbon Capture and Clean Fuels

Carbon capture and storage (CCS) is gaining momentum as an important solution for reducing global carbon emissions. With significant projects like Gevo’s $1.46 billion...

Verra To Cut Workforce By 25%, CEO Mandy Rambharos Confirms

Verra’s CEO Mandy Rambharos made an intensely grim announcement on October 21st about company restructuring. Coming to the point directly, he said, “Today, I informed...

India’s Cleantech Boom: Can It Challenge China’s Reign?

As governments across the world push for cleaner energy, the competition between India and China for cleantech dominance intensifies. China's early investment in clean...

General Motors Invests $625M in Lithium Americas to Boost Nevada’s Thacker Pass Lithium Project

Good news for the electric vehicle (EV) industry- General Motors (GM) and Lithium Americas have inked a $625 million joint venture to develop the...
CARBON INVESTOR EDUCATION

Carbon Credits vs. Carbon Offsets

Carbon Credits vs. Carbon Offsets: What's the Difference? At their core, both carbon credits and carbon offsets are accounting mechanisms. They provide a way to...

Who Verifies Carbon Credits?

Carbon credit verification is a rigorous process that involves various steps to ensure the legitimacy of the credits.

The Ultimate Guide to Understanding Carbon Credits

Everything you need to know about carbon credits, voluntary and compulsory carbon markets, and carbon investment...

Top 4 Carbon Stocks To Watch In 2024

Carbon stocks, credits and capture technology are getting a lot of interest from investors. Companies will attract even more capital in 2023.