The world is failing to cut carbon emissions fast enough to avoid disastrous climate change, a dawning truth that is giving life to a technology that for years has been marginal – pulling carbon dioxide from the air.
, which has raised more than $800 million to date and is backed by Singaporean sovereign investor GIC.
The real challenge, though, was access to talent, Gebald said. "Where are you getting those people in the next 30 years?... there’s no university programme on DAC." "Hopefully that will help in a virtuous cycle that galvanizes even more support from corporations buying carbon credits, and maybe from state and local governments."The sites being bid for stretch across the breadth of the country, yet all have several things in common: they are near cheap, renewable energy and plenty of space to store the gas.
Oil companies are also far ahead in getting permitted, sequestration wells, guaranteed to keep the CO2 in the ground. But the energy to run the process, the factories, pipelines and storage is expensive. The jury is still out on whether it can be deployed at a scale big enough to affect the climate, at a cost the world can bear.
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