Carbonfuture has launched a new program called Catalyst, partnering with upcoming carbon removal companies for no-strings-attached carbon credit pre-purchases and methodology support. The first 3 companies which have joined the program and received such pre-purchases are: Heimdal, Lithos Carbon, and Ucaneo.
The UN’s climate panel has stated the essential role of global decarbonization. Reducing emissions alone still leaves CO2 in the atmosphere, which, if not removed, continues to accelerate warming for centuries. Even with recent significant progress, carbon removal is still nowhere near on track to getting to the necessary scale of at least 5-10 billion tonnes of carbon removal by 2050. In short, a gigatonne-scale portfolio of new and permanent carbon removal solutions is needed.
Participating companies are supported anywhere along their journey from proof-of-concept demonstration to formal participation in the high-quality carbon removal market. Initial pre-purchasing of credits ensures a path towards long-term and large-scale offtake. Hannes Junginger, CEO of Carbonfuture said, “Supporting emerging companies that are committed to finding new and trusted ways to do carbon removal is essential to achieving the scale we need to tackle the climate crisis in a meaningful way — we’ll work hard to make sure the Catalyst program contributes meaningfully towards this ambition.”
Here is a quick explanation of Heimdal, Lithos Carbon, and Ucaneo.
Heimdal is pioneering a new “ocean-assisted” carbon removal method that can permanently store CO2 and reduce ocean acidification at the same time. Its pilot plant in Hawaii, the world’s first ocean-assisted carbon removal plant, addressing both carbon capture and storage in one solution, can currently capture 36 tonnes of CO2 per year.
Lithos Carbon is working on a promising Enhanced Rock Weathering technology. The process uses natural ground basalt as a catalyst for converting atmospheric CO₂ to dissolved inorganic carbon.
Finally, SynBio start-up Ucaneo is building the world’s first cell-free Direct Air Capture technology, leveraging a biocatalytic membrane to capture CO2 from the air. Compared to conventional DAC technologies, this does not bind CO2 to a chemical solvent but leverages a concentration mechanism to capture CO2 directly from the air.
In other carbon removal news: Climeworks predicts cost below $250/mt by 2030, DAC/Enhanced Weathering company Heirloom has raised a $50m Series A, and DAC pioneer Climeworks has raised a $650m financing to grow faster, XPrize announced 15 Recipients, and CleanTechnica has interviewed Adam Wolf – founder of Eion Carbon, as well as Ben Tarbell – founder of Ebb Carbon. All while the IPCC6 has called “Carbon Removal” un-avoidable, which seems to indicate the news on this topic are going to intensify.
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