“Big Tech sees potential in bio-oil to combat climate change”

[ad_1]

Tech Giants Invest $53 Million into Corn Stalk and Tree Trimming-Based Carbon Capture System

Some of the biggest names in tech, including Alphabet, Meta, Stripe, Shopify, and McKinsey Sustainability have invested $53 million to support Charm Industrial’s carbon-capture process using agricultural waste. The San Francisco-based carbon tech start-up will store 112,000 tons of carbon dioxide underground between 2024 and 2030.

Charm Industrial’s Carbon Capture Process
Charm Industrial collects agricultural and forestry waste, such as discarded corn stalks or branches from logging. The company then uses a fleet of flatbed semi-trucks hauling reactors to heat up the waste to 500 degrees Celsius without burning it. This transforms it into bio-oil, a tarry-looking carbon-rich liquid. The bio-oil contains the carbon dioxide that the plants or trees it’s made from absorb during photosynthesis. The method by which Charm carries out the process is decentralized compared to others, who build big plants to extract carbon from the air or sea, needing land, pipelines, and storage. Instead, Charm has its fleet of vehicles hauling equipment and bio-oil and plans to inject the oil into industrial waste wells or old salt caverns left by oil and gas exploration.

Scaling-Up Challenges
Charm industrial must ensure none of its wells leak bio-oil before it hardens into rock. This process is also only effective if the materials collected would burn or rot without Charm with the added downside of making it more difficult and expensive for farmers to provide extra feed for cattle. Carbon removal is prohibitively expensive across the industry; Charm’s $53 million deal breaks down to roughly $473 per metric ton of CO2, rising to $600 per ton for prospective customers. The process costs are comparable to direct air capture, making the process unlikely to reduce emissions for companies already in carbon debt.

Conclusion
Charm Industrial’s technology could become a practical way of reducing carbon emissions if the company overcomes its scaling-up challenges and the cost of carbon removal reduces. Companies in carbon debt should focus on reducing their emissions before investing in carbon removal.

FAQ
What is Charm Industrial’s carbon capture process?
The process involves the collection of agricultural and forestry waste, which the company heats to 500 degrees Celsius without burning it, transforming it into bio-oil.

What is the advantage of Charm Industrial’s decentralized method?
Charm Industrial’s plan is decentralized compared to others, which build big plants to extract carbon from the air or sea, needing land, pipelines, and storage, and facing lengthy permitting processes.

What is the cost of carbon removal?
Carbon removal is prohibitively expensive across the industry, comparable to direct air capture, making the process unlikely to reduce emissions for companies already in carbon debt.

What is the $53 million deal announced by Charm Industrial?
The deal involves Frontier’s founding members and other companies agreeing to pay Charm a total of $53 million to capture and store 112,000 tons of carbon dioxide between 2024 and 2030.

[ad_2]

For more information, please refer this link