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Our Carbon Future White Paper

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Our Carbon Future White Paper ( our-carbon-future-white-paper )

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The R&D landscape In our conversations with corporate stakeholders, we have heard repeated calls for a better R&D infrastructure to fund and enable the required leaps in technology development and adoption. No single company can make the shift required without action across whole value chains. This will require a level of R&D that supersedes any one corporate shop. People recall a time of research collaborations such as Bell Labs46, which enabled technological advancements in the early part of the 20th century through significant cross-industry and governmental investment in R&D. A similar scope of effort is now urgently needed in the area of carbon removal. There are several programmes of moderate scale already established (see examples below). There remains a need for greater ambition, effort and resourcing to enable cross-sector and industry-level shifts. Example 1: Center for Negative Carbon Emissions Arizona State University’s Center for Negative Carbon Emissions focuses on carbon management technologies that can capture CO2 directly from the air. They also consider the economic, political, social and environmental ramifications related to affordable air capture technology. They feature several demonstration projects on their website47, and their interdisciplinary research approach includes: • Demonstration and development of prototype technologies to close the carbon cycle and create net negative emissions. • Advancement of fundamental sciences supporting this new technology base. • Systems analysis and engineering studies of rapid transition to new energy infrastructures. • Models of the underlying mechanisms within air capture technology. • Study of the interactions of these new technologies with policy development and of the societal implications of these changes. • Analysis to determine the optimal positioning of these technologies to best serve societal needs. Example 2: NRG COSIA Carbon XPRIZE The NRG COSIA Carbon XPRIZE sets a challenge for innovation teams to convert CO2 into valuable products. With prize money of $20 million on offer, the challenge has ignited significant interest and helped accelerate the development and deployment of a range of Carbon Capture and Use (CCU) ventures. The 10 finalists from around the world take diverse approaches to turning CO2 emissions into products, including concrete, liquid fuels, plastics and carbon fiber, illustrating a range of commercial opportunities that are poised to grow.48 Scaling the early-stage innovation fostered by the XPRIZE remains a challenge, as many of the technologies are not yet perceived to be investment-ready by mainstream venture capital funds, but the pipeline is beginning to build. 46 https://en.wikipedia.org/wiki/Bell_Labs 47 https://cnce.engineering.asu.edu/research/ 48 XPRIZE, ‘$20M NRG COSIA Carbon XPRIZE’, https://bit.ly/2HmLE82 18

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