CarbonCapture, a US-based climate tech company, has strengthened the country’s investment momentum in carbon-capture technology.
Globally, there were a total of 15 carbon-capture projects announced between January 2019 and July 2022, worth around $1.76bn, according to fDi Markets data. There were no such projects recorded before 2019.
The US has led by example in this field, with a major influx of carbon-capture projects this year. Despite not running any such projects before 2022, four had been announced between January and by the end of July this year. These projects are worth a total $849m.
CarbonCapture’s ‘Project Bison’ facility in Wyoming is now set to beef up those figures further. The project is an exclusive partnership with a Dallas, Texas-based carbon storage developer, Frontier Carbon Solutions, and aims to permanently remove five million tons of atmospheric carbon dioxide annually by 2030, CarbonCapture said in a statement on September 8.
“Safe, permanent carbon storage and direct air capture are foundational to a low-carbon economy,” Robby Rockey, president and chief operating officer of Frontier Carbon Solutions, said in the statement.
CarbonCapture plans to filter carbon dioxide out of the air using its ‘direct air capture (DAC) modules’, with the help of Frontier’s carbon dioxide transportation and storage infrastructure in Wyoming. The Wyoming project will be its first DAC carbon-removal project, according to the statement.