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Sources: SEIA, Wood Mackenzie DAC Companies in North America For DAC to scale up as a solution to climate change, a wide variety of actors that can monetize the technology is necessary. Moreover, the number of facilities needs to reach a global scale. However, as noted, so far the list of DAC companies is small. Global Thermostat and Carbon Engineering are the two main North American companies currently utilizing DAC. Given that taking CO2 out of the air and permanently storing it underground is costly, their business models depend on using the CO2 to create a market by converting it into materials for plastics, synthetic fuels, beverages, or other commercial products – similar to what Climeworks is intending to do. The viability of this business plan depends on the captured CO2 contributing to valuable mass-market products. Both companies are nearing commercialization – Global Thermostat with a DAC plant in Huntsville, Alabama and Carbon Engineering with one in Squamish, British Columbia. Economic Criticisms of Direct Air Capture From a business perspective, DAC has come under criticism. Critics argue that carbon capture utilization and storage (CCUS) holds more promise for developing sustainable business models. CCUS involves capturing CO2 from an emitting source (such as a power plant) and turning it into a marketable product or sequestering it underground. DAC companies can essentially construct facilities anywhere, but the technology is more expensive – DAC facilities pull CO2 that is dispersed throughout the atmosphere, making it difficult to capture large volumes at one time. This factor is important regarding both its environmental impact and business potential. In order for DAC to be successful, it needs to suck large volumes out of the atmosphere by achieving scale, which is challenging due to its high costs. By contrast, in the CCUS process, the concentration of CO2 is higher than what a DAC plant can pull out of the atmosphere. This could make CCUS more economical than DAC because it can capture higher volumes of CO2 to use in commercial products. It is also faster, simpler and requires less energy. With CCUS, instead of using the CO2 captured for commercial products, companies may also store the CO2 13PDF Image | Carbon Removal Final Report
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