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23. December 2024
Carbon Capture Innovations Emerge in Unlikely Places as Tech Giants Invest $80 Million in Climate-Friendly Solutions
Tech giants like Google, Salesforce, H&M, and others have turned to unconventional allies - sewage treatment plants and paper mills - to help them clean up their pollution. A recent $80 million investment by these companies has sparked interest in novel approaches to carbon capture, which could potentially play a significant role in slowing down climate change.
Two startups, CREW and CO280, are set to receive funding to develop technology that captures carbon dioxide emissions from wastewater treatment facilities and pulp and paper mills. The agreements were facilitated by Frontier, a carbon removal initiative led by Stripe, Google, Shopify, and McKinsey Sustainability.
This investment highlights the growing trend of companies seeking innovative ways to offset their greenhouse gas emissions. By exploring novel methods for drawing down carbon dioxide, these tech giants are taking a proactive approach to reducing their environmental impact. According to Wil Burns, co-director of the Institute for Responsible Carbon Removal at American University, “We need to be looking at a lot of different kinds of approaches. Some of these approaches still remain extremely expensive, notably direct air capture, so we’re looking for approaches that potentially are less expensive.”
The cost-effectiveness of carbon capture technologies is a crucial factor in their adoption. Direct air capture can be prohibitively expensive, with costs ranging from $447 to $600 per ton of captured carbon dioxide. CREW’s technology has the potential to capture carbon dioxide that would otherwise be released by microbes in water treatment tanks, making it a more cost-effective option.
CO280 uses technologies initially developed for fossil fuel industries to capture CO2 emissions from smokestacks and industrial facilities. This approach involves adding carbon capture devices to facilities that burn “black liquor,” a bi-product of pulp manufacturing used to generate heat and power. The captured CO2 is then permanently stored in underground wells, effectively sequestering the greenhouse gas.
While these innovations show promise, experts caution that carbon removal is no substitute for preventing greenhouse gas emissions in the first place. However, as the technology continues to evolve, it’s likely that we’ll see a shift towards more sustainable energy sources and reduced reliance on fossil fuels.
As tech giants continue to invest in climate-friendly solutions, innovative approaches like carbon capture will play a crucial role in mitigating the effects of climate change. By exploring novel methods for drawing down carbon dioxide, companies are taking a proactive approach to reducing their environmental impact and paving the way for a more sustainable future.