From July to October 2023, the business of CDR saw its biggest credit purchases yet, the biggest acquisition ever, and significant government funding from the US Dept. of Energy
In the Middle East and much of the global south there are plenty of announcements, but little in the way of breaking ground on projects bigger than pilots
I'm bullish on Kenya long-term. Octavia Carbon is a great company and it has the right combination of skills, geology, and political stability to make long-term progress. More here:
In the North Atlantic, there's been a recognition that the main problem is storage. North America has 6x more underground storage than Europe according to BCG. A group of companies started an initiative to create a North Sea Collective to get out ahead of this. It will take CO2 from both DAC players and emissions-source carbon capture (from coal plants, waste treatment, etc.)
America is likely to lead in the short-run because it has (1) big buyers willing to pay high prices (2) deep reservoir of skills from O&G (3) muscular government support (4) a rich, growing and highly integrated economy spanning a full continent. That means buyers in Seattle can purchase credits created in Louisiana with no reservations
Great insights and the description of Occidental’s approach.
Is there any significant DAC happening in areas like Saudi Arabia or the North Atlantic or Indonesia, for example?
In the Middle East and much of the global south there are plenty of announcements, but little in the way of breaking ground on projects bigger than pilots
I'm bullish on Kenya long-term. Octavia Carbon is a great company and it has the right combination of skills, geology, and political stability to make long-term progress. More here:
https://www.economist.com/middle-east-and-africa/2023/06/15/why-kenya-could-take-the-lead-in-carbon-removal
In the North Atlantic, there's been a recognition that the main problem is storage. North America has 6x more underground storage than Europe according to BCG. A group of companies started an initiative to create a North Sea Collective to get out ahead of this. It will take CO2 from both DAC players and emissions-source carbon capture (from coal plants, waste treatment, etc.)
America is likely to lead in the short-run because it has (1) big buyers willing to pay high prices (2) deep reservoir of skills from O&G (3) muscular government support (4) a rich, growing and highly integrated economy spanning a full continent. That means buyers in Seattle can purchase credits created in Louisiana with no reservations