Role of Carbon Capture and Storage in Global Emissions Reduction
Published On : Nov 08, 2024
As the world grapples with the urgent need to mitigate climate change, Carbon Capture, Utilization, and Storage (CCUS) has emerged as a critical technology in the fight against global warming. It involves capturing Carbon Dioxide (CO2) emissions produced by industrial processes and energy production. The technology prevents it from entering the atmosphere and contributing to the greenhouse effect. This innovative approach not only addresses emissions but also paves the way for sustainable energy solutions.
Breaking Down the Carbon Capture and Storage Process
Carbon Capture and Storage (CCS) is a multi-step process designed to capture CO2 emissions at their source, transport, and securely store them underground. The process begins with the capturing of CO2 from industrial facilities or power plants, where it is separated from other gases produced during combustion.
The CO2 is then compressed and transported via pipelines to a storage site, where it is injected deep underground into geological formations. These include depleted oil and gas fields or deep saline aquifers. These formations are chosen for their ability to securely contain the CO2 for long periods, preventing it from escaping back into the atmosphere.
CCS not only reduces emissions from traditional energy sources but also has the potential to facilitate a transition to a more sustainable energy system. By capturing CO2, it allows industries to continue their operations while working toward net-zero emissions.
Breakthrough Technologies in Carbon Capture and Storage
The effectiveness of CCS mainly depends on the technologies used throughout the process. Several methods are utilized for capturing CO2, each with its strengths and weaknesses.
- Post-combustion Capture: This method involves capturing CO2 after fossil fuels have been burned. It uses chemical solvents to absorb CO2 from fluorocarbon gas emissions. This technology can be retrofitted to existing power plants, making it a practical option for reducing emissions from established infrastructure.
- Pre-combustion Capture: In this process, fossil fuels are converted into a gas mixture before combustion. The CO2 is separated before the fuel is burned, making the remaining gas cleaner and easier to manage.
- Oxy-fuel Combustion: This technique burns fossil fuels in pure oxygen instead of air, resulting in a flue gas that consists primarily of CO2 and water vapor. The method simplifies the capturing process as separating CO2 from flue gas becomes easier.
- Direct Air Capture (DAC): This emerging technology captures CO2 directly from the ambient air using chemical processes. DAC holds great potential in the field of carbon credit/carbon offset. Here, emissions from sectors that are difficult to otherwise decarbonize, such as agriculture and heavy industry, are considered.
- Utilization: After capture, CO2 can be used as a raw material in various industrial processes, such as producing chemicals, fuels, and building materials. This approach not only sequesters carbon but also contributes to a circular economy.
Impact of CCS on Tackling Climate Change
CCS has the potential to play a significant role in reducing global CO2 emissions and achieving climate goals. According to research, it could account for a substantial portion of the emissions reductions required to limit global warming to 1.5°C above pre-industrial levels. By preventing millions of tons of CO2 from entering the atmosphere, CCS can complement other solutions, such as renewable energy deployment and energy efficiency measures.
Top 10 Companies Leading the CCS Market in 2024
- Carbfix: The Iceland-based firm specializes in Carbon Capture and Storage (CCS) technology, injecting captured CO2 into basaltic rock formations deep beneath the Earth's surface, locking it away for thousands of years.
- Carbon Clean Ltd.: The London-based company provides low-cost carbon capture technology. It uses a proprietary solvent to capture carbon dioxide emissions from industrial processes, such as power plants and cement factories.
- CarbonFree: This Texas-based company employs patented technologies to capture CO2 emissions from stationary point source emitters and converts them into carbon-negative chemicals. Its goal is to help industrial manufacturing plants reduce carbon emissions and create sustainable products.
- Carbon Engineering: Canada-based Carbon Engineering has garnered substantial funding and specialization in liquid Direct Air Capture (DAC) technology. It employs a potassium hydroxide solution to trap CO2. It has licensed its DAC technology to construct a megaton-scale plant in the U.S.
- Aker Carbon Capture: A leading player in the carbon sequestration industry, this U.K.-based company uses proprietary carbon capture technology to capture CO2 from waste flue gases generated by various industries. It also provides modular solutions designed for easy transport and installation.
- LanzaTech: This U.S.-based company specializes in developing and commercializing Carbon Capture and Utilization (CCU) technology. It captures industrial gases as well as converts them into valuable chemicals and fuels using microorganisms.
- Quest Carbon Capture & Storage (Shell): Operated by Shell Canada, this project involves capturing and storing carbon dioxide emissions from a bitumen upgrader plant in Alberta, Canada. It uses post-combustion capture to capture CO2 emissions and store them deep underground.
- Saipem: This Italy-based firm’s carbon capture technology uses an enzyme-based approach to capture CO2 from industrial emissions. It has the advantage of capturing carbon dioxide at a lower cost than traditional techniques.
- Global Thermostat: This Colorado-based company’s DAC technology uses a patented process called the Carbon dioxide Removal Assembly (CDRA) to capture CO2 using a proprietary adsorbent material. It is regenerated by a low-grade heat source amid partnerships with organizations and companies for carbon capture and utilization.
- Climeworks: It is a Switzerland-based company specializing in Direct Air Capture (DAC) technology. It involves extracting carbon dioxide directly from the atmosphere. It has joined hands with various organizations and companies to advance carbon capture technology.
Technological Innovations to Drive Down Costs in Future
The efficiency of CCS technology is set to increase over the next ten years, lowering the cost of CO2 capture as well as the infrastructure needed for storage and delivery. The cost per ton of CO2 captured is anticipated to be greatly reduced by improvements in CO2 compression and transport techniques. At the same time, advancements in capture materials, such as better solvents, membranes, and adsorbents are likely to play a key role.
Market Study on Carbon Capture, Utilization, and Storage: Witnessing a Growing Focus on Reduced Carbon Footprint, PMR Foresees Various Opportunities for CCUS Players in the Upcoming Years.
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