Iceland, Ed Crooks, Catherine discussed on The Energy Gang

The Energy Gang
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Expensive in too distracting but that may be changing does a new direct air capture plant in iceland herald a new era for carbon management. Plus new research shows. Just how drastically we need to slash fossil fuels to limit. Dangerous warming and california tries to fix the busted. Recycling system katherine. Hamilton is an arlington virginia. Happy to be here. Did you line up for your one thousand dollar per tonne. Co to offset from this direct air. Capture plant this week now. I'm just trying to figure out how to efficiently recharging electric vehicle using just like a little orange cord. Catherine is the chair and co founder of thirty eight solutions and we also joined by ed crooks. He is your where are you at your and oklahoma. I am indeed them in oklahoma city. Right now what's got you there visiting cons Saying there is companies on people In the energy industry here so it's been kind of a shock to the system to be flying again But actually quite nice ways but feeling of getting back to normal. I some some days. It feels like that's some days it doesn't. It is vice chair of the americas at wood. Mackenzie and he's a former editor at the financial times. And we've got a lot to talk about this week. I let's turn to iceland so last week. This swiss company called climb works officially launched a direct air capture plant in iceland called orca. The plant is a large series of fans or collectors. It moves the air over filter to create a chemical reaction binding. Co two which can be injected underground mineralized basically turned into rock. It is powered by geothermal plant. And that's why iceland's abundant geothermal. Resources and basaltic rock make a good place to house a plant like this. The company has signed deals with swiss. Re bill gates stripe and shop fai to sell them credits from the plant. But the tech is still really expensive As i alluded to. I think thousand dollars or eleven hundred dollars per tonne of co two that they're selling these voluntary credits for and it's still very small scale at around four thousand tons of co two per year but it is the biggest such plant of its kind and there are more in the works and climb. Works wants to get megaton scale plants by the end of the decade so that's a million tons of co two. What does this commercial launch signal for. The carbon capture industry. Catherine what what is this plant. How does it work. What are your thoughts on this announcement. Yes i reached out to ryan hanna. Who's a scientist and professor at university of california in san diego. And he said the really big way to think about this is that there's this carbon scrubber co two scrubber over which ambient air is brought into contact and then it grabs a bunch of the co two and then then once it does that it still has to be scrubbed and gets to maybe ninety eight nine hundred ninety eight or ninety nine percent pure and at that point you can put this into you can reuse it. So you can put it into greenhouses carbonation. Coca-cola synthetic fuels put high pressure into pipelines Or you can put it underground. So they're kind of a couple of different ways that you can go with direct air capture. One is to completely get rid of it. Which would mean to put it underground that would get it out of the air altogether or the other way to put it back into the economy and it doesn't reduce the amount of co two but it doesn't add to the amount and the whole trick of course is this this. Is this plant. Which is pretty interesting is very small that the use potential is miniscule compared to what has to be stored underground. And you have to prove this out. Not just from technical and feasibility way. But how is this going to work as at a cost and business basis. How do you actually scale this. Because it because of the size of the problem how do you scale it in a way that you can reuse it but you can also actually get rid of it and that is a really gnarly issue. Yes so the way. They're doing it now that they're mineralized being the the co two so basically be stored underground as rock permanently. But as you said you could turn that into two other materials and potentially create other revenue streams. But all still very expensive and limited in nature. And what do you make of the scale of this project in the tech itself and yeah. I'm in the scale As guzman just saying it's not great is nothing but four thousand tons year talking about capturing that's because apparently to about the emissions from eight hundred fifty cows or about one percent of the emissions of one coal thaad pablo so certainly in this stage Another to get too excited about there in terms of the scale. And as i say you're going to need to scale it up a lot if it's really gonna stop to make a material difference mobile technology my feeding. I'm deeply conflicted. I have to say about direct capture in the sense that comma changes are really tough problem. We need every tool available to tackle.

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