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foreseeable future. In the paper, the authors describe each step involved in DAC and note what hardware is needed throughout the process. When the researchers consider the amount of energy used in the process and the overall capital expenses, they calculate the overall costs, concluding that the range is from $94 to $232 per ton. However, the authors acknowledge the shortcomings of estimating costs at this point in the process toward commercialization: It is difficult to estimate the cost of a technology prior to its widespread deployment. CE [Carbon Engineering] has spent several tens of millions of dollars developing DAC technology, yet our performance and cost estimates still carry substantial uncertainty. Our process design choices were substantially driven by a goal of reducing development risk and reducing the capital cost of early plants, rather than by minimizing energy use or ultimate levelized cost. CE adopted a conservative approach to cost and performance estimation, driven, in part, by controversy around the feasibility and cost of DAC. The process described here should therefore be seen as a low- risk starting point rather than a fully optimized least-cost design.60 When this study was published, Carbon Engineering and DAC technology, in general, received an increasing amount of positive press. For instance, a headline in The Atlantic said: “Climate Change Can Be Stopped by Turning Air Into Gasoline.” In the article, Keith explained his company’s goals: “What we’ve done is build a [direct-air capture] process that is—as much as possible—built on existing processes and technologies that are widespread in the world. That’s why we think we have a reasonable possibility of scaling up.”61 With the low-carbon transportation fuels made from the CO2 sucked out of the air, Carbon Engineering hopes to develop a diverse customer base and has taken a step in that direction with its new partnerships with Chevron and Occidental. How realistic the costs that Carbon Engineering cited in Joule and its plans to scale up are difficult to assess at this moment. Critics caution that analyzing such a complex and new process will take time. The company is seeking additional funds to take the final steps to commercialization. CarbonCure Founded in 2007 and an XPRIZE finalist, CarbonCure is one startup company in the CCUS space that is seeing growth. Its technology takes recycled CO2 sourced from an industrial emitter and injects it into concrete when it is mixed. This process improves the strength of the concrete. Besides strengthening the concrete, this technology is attractive to customers because it can cut costs while also reducing a company’s carbon footprint. It is now being used in over 100 concrete plants in North America. Toronto’s Brampton Brick and Virginia’s Vulcan Materials were two of the first to utilize CarbonCure’s technology. CarbonCure’s advantage versus its peers is that it is more than a decade old, making it a relatively mature company in this sector, and it has received a steady stream of funding and is building a customer base. The company has received funding from a variety of sources, with the total reaching at least $9.3 million after five rounds of funding. In 2013, BDC Venture Capital – which has more than $1 billion under management – Eagle Cliff Partners, Innovacorp, 350 Capital, along with strategic investors, injected $3.5 million into CarbonCure, helping the company transition to commercialization. In 2015, Pangea Ventures 60 Keith, David. “A Process for Capturing CO2 from the Atmosphere.” Joule. June 7, 2018. https://www.cell.com/joule/fulltext/S2542-4351(18)30225-3 61 Robinson, Meyer. “Climate Chage Can Be Stopped by Turning Air Into Gasoline.” The Atlantic. June 7, 2018. https://www.theatlantic.com/science/archive/2018/06/its-possible-to-reverse-climate-change 30PDF Image | Carbon Removal Final Report
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