This agreement will enable Climeworks to bring new and larger projects to life. The deal also heralds the new standard for voluntary carbon market offtake agreements for DAC: companies’ immediate actions play a crucial role in achieving net zero targets and represent an essential component of the financing mechanisms needed for new, larger projects. The magnitude of the agreement demonstrates clear support for Climeworks’ high-quality, high-integrity approach to CDR with operational, measurable, additional, and permanent carbon removal services via DAC+S. While marine vessels consume thousands of tons more fuel than trucks, the science behind carbon capture technology is similar.Ĭlimeworks, a global leader in carbon dioxide removal (CDR) via direct air capture and storage (DAC+S), has signed a USD 20 million deal with JPMorgan Chase, making it one of the largest purchases of CDR services from a corporate buyer. So far, Aramco has demonstrated the MCC technology in passenger road transportation and, more recently, in a heavy-duty truck with up to 40% carbon capture. The MCC technology complements our proprietary methane slip reduction (SlipPure) and desulphurisation (SulPure) systems, creating decarbonisation packages for current and future infrastructure and assets." It is a perfect fit with our strategy, which is to develop and integrate innovative technology to help our clients meet their decarbonisation goals. Mario Michan, Founder and CEO of Daphne Technology, commented: "We are thrilled to partner with Saudi Aramco Technologies Company and commercialise their innovative MCC technology for the maritime industry. The newly formed partnership between Saudi Aramco Technologies Company, a wholly owned subsidiary of Aramco, and Lausanne-based startup Daphne Technology aims to advance Aramco’s mobile carbon capture (MCC) technology. This is a sector where Switzerland, already a world leader in the field, would do well to stay ahead of the game.The International Maritime Organization is currently targeting a 50% cut in greenhouse gas emissions from the global fleet by 2050 compared to 2008 – this is driving significant demand for GHG mitigation solutions for the maritime transport sector.įounded by Mario Michan in 2017, Daphne Technology is at the forefront of developing patented greenhouse gas reduction solutions for hard-to-abate sectors, including the deep-sea maritime industry. “Beyond the costs, negative-emissions technologies are also an opportunity: they will become one of the main industries, creating a lot of jobs. The price of inaction, considering the damage caused by natural disasters, would in any case be higher, he warns. However, he adds, at some point mitigation will not be possible or become so expensive, for instance in aviation, that it will be necessary to remove the greenhouse gases from the atmosphere. Doing nothing will cost moreīeuttler of Climeworks is in no doubt about the need for action to cut emissions: “It is the most important thing we can do to stop climate change”. “At the moment, the cheapest and most urgent step is to stop emitting CO2,” she told the watson.ch portal. While recognizing the need to use these technologies, Martine Rebetez, professor of climatology at the University of Neuchâtel, stresses that there are still several unknowns with regard to safety, carbon balance and costs.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |