In a recent commentary, the International Energy Agency (IEA) hailed the progress made in realizing carbon capture, utilisation and storage (CCUS) projects. But much remains to be done if CCUS is to reach the objectives spelled out in the IEA’s Net Zero Emissions (NZE) by 2050 Scenario, which calls for around 1 billion tonnes of carbon dioxide per year to be captured and stored by 2030.
On the positive side, the IEA highlights that “2023 saw continued year-on-year growth in project announcements, final investment decisions (FIDs), and plant commissioning.” For example, 2023 saw announced capture capacity increase by 35%, while announced storage capacity rose by 70%.
This brings the total amount of CO2 that could be captured in 2030 to over 430 million tonnes (Mt) per year and announced storage capacity to around 620 Mt of CO2 per year—significantly short of the 1 billion tonnes envisioned in the NZE Scenario.
A key part of accelerating the deployment of CCUS lies in radically reducing the cost of carbon capture, which is by far single costliest element in the CCUS value chain. And this is where Atoco’s carbon capture solution comes in. Harnessing advances in reticular chemistry made by our founder Prof. Omar Yaghi, the solution drives down the cost of CO2 capture, whether from the flue gases of industrial processes or directly from the atmosphere.
Read the full IEA CCUS commentary here: https://lnkd.in/dkhVkcjT
#carboncapture #CCUS #NZE
