Carbon capture, utilisation and storage (CCUS) technologies trap CO2 before it can be emitted to the atmosphere, and stop it from contributing to climate change. The captured CO2 is typically sent to a safe and permanent repository, deep underground, but could potentially also be used in industrial processes that bind the carbon into materials. While there are good examples of successful and large CCUS projects around the world, the sector has to date suffered from a perception of high costs, very large public funding requirements and few incentives to radically cut emissions in sectors like cement production, refining or coal-fired power generation. Carbon Clean is an unusual player in the CCUS space: not only do its founders hail from an emerging economy like India, but they are a relative outsider compared to the major energy companies that otherwise dominate investments. In this episode, Aniruddha Sharma explains how Carbon Clean’s technology tackles the CCUS cost problem and how they aim to lower the barriers to investment for emitters at all scales. Since the recording of this episode in November 2021, Carbon Clean has gone on to raise a major fundraising round and be selected for the Global Cleantech 100 list. Whether you calculate that we need seven billion tonnes of CCUS by 2050 (as the IEA does) or less than one billion tonnes, we urgently need the conditions for companies to start making money from locking up emissions.
Show Notes
Carbon capture, utilisation and storage (CCUS) technologies trap CO2 before it can be emitted to the atmosphere, and stop it from contributing to climate change. The captured CO2 is typically sent to a safe and permanent repository, deep underground, but could potentially also be used in industrial processes that bind the carbon into materials. While there are good examples of successful and large CCUS projects around the world, the sector has to date suffered from a perception of high costs, very large public funding requirements and few incentives to radically cut emissions in sectors like cement production, refining or coal-fired power generation. Carbon Clean is an unusual player in the CCUS space: not only do its founders hail from an emerging economy like India, but they are a relative outsider compared to the major energy companies that otherwise dominate investments. In this episode, Aniruddha Sharma explains how Carbon Clean’s technology tackles the CCUS cost problem and how they aim to lower the barriers to investment for emitters at all scales. Since the recording of this episode in November 2021, Carbon Clean has gone on to raise a major fundraising round and be selected for the Global Cleantech 100 list. Whether you calculate that we need seven billion tonnes of CCUS by 2050 (as the IEA does) or less than one billion tonnes, we urgently need the conditions for companies to start making money from locking up emissions.
Further reading:
- Carbon Clean Solutions Ltd: https://www.carbonclean.com/
- Carbon capture, utilisation and storage at the IEA: https://www.iea.org/fuels-and-technologies/carbon-capture-utilisation-and-storage
- Net Zero by 2050, IEA 2021: https://www.iea.org/reports/net-zero-by-2050
- ETP Clean Energy Technology Guide, IEA 2021: https://www.iea.org/articles/etp-clean-energy-technology-guide
- Carbon capture in 2021: Off and running or another false start?, IEA 2021https://www.iea.org/commentaries/carbon-capture-in-2021-off-and-running-or-another-false-start
- Carbon Clean raises $150m in record carbon capture funding round https://www.carbonclean.com/media-center/news/raises-150m-in-record-carbon-capture-funding-round
- The 2022 Global Cleantech 100: https://www.cleantech.com/the-global-cleantech-100/
- India Energy Outlook 2021: https://www.iea.org/reports/india-energy-outlook-2021
This episode is hosted by Siddharth Singh and Simon Bennett. It was produced by Rakesh Kamal (Suno India) and Mariam Aliabadi. Additional production help was provided by Rob Stone and Allison Leacu.
What is Innovation Frontlines?
The International Energy Agency is sharing the stories of the clean energy innovators who are vital to addressing the world’s energy and climate challenges and take us a net zero emissions future.
This season of Innovation Frontlines focuses on innovators and entrepreneurs in India, featuring in-depth and personal interviews with founders of clean energy technology start-ups. Each episode helps illuminate a different part of the technology challenge: What is the right business model for batteries in a country like India? How do you raise financing for a new fuel cell invention? Where are the opportunities in international value chains? How can technology and social entrepreneurship work together?