From Earth to Air and Sea: CDR News Round-Up July 2024

Welcome to the first edition of your go-to monthly round-up of the biggest news stories in CDR from Carbon Unbound . We've gathered all the essential updates from the past month into one convenient blog-sized package, ensuring you're always in the loop with the industry's latest developments. Let's dive into the latest industry news for July 2024:

Carbon Limit's CO2-Capturing Tech Gets a Boost

• Carbon Limit gets $740,000 grant: This climate tech company was awarded funding from the South Florida ClimateReady Tech Hub to develop sustainable infrastructure solutions.
• CaptureCrete to the rescue: The grant will scale up Carbon Limit's CO2-capturing concrete technology, CaptureCrete, in communities impacted by climate change.
• Green jobs and green concrete: The ClimateReady Tech Hub program is expected to create green jobs and generate significant revenue over the next decade.
• Read the full article here.

Omani Startup, 44.01, Receives a $37M Boost

• Accelerating carbon mineralisation: The funds will be used to advance 44.01 's technology that turns CO2 into rock, a permanent and scalable solution for carbon sequestration.
• Global potential: With suitable rock formations worldwide, the startup aims to deploy its technology globally to combat climate change.
• Industry recognition: 44.01 has received accolades, including The Earthshot Prize and recognition as a top finalist in the XPRIZE Carbon Removal competition.
• Read the full article here.

Jeff Who? Amazon Branches Out on Carbon Credits

• Amazon forges its own carbon offset path: The tech giant is developing a new carbon offset standard with Verra , bypassing the existing ICVCM standard, partially funded by its founder, Jeff Bezos.
• Abacus: Amazon's carbon credit framework: The new standard, named Abacus, aims to verify carbon offsets in reforestation and agroforestry more rigorously.
• Market divided: The move has sparked debate, with some praising Amazon's ambition and others fearing market fragmentation and lowered standards. The battle for the most reliable carbon offset standard is heating up.
• Read the full article here.

Sweden Sweeps Up €3 Billion for Carbon Capture

• EU greenlights €3 billion for Swedish carbon capture: The EU has approved a substantial fund to incentivise carbon capture and storage (CCS) projects in Sweden.
• Competitive bidding for CCS projects: Companies in Sweden can compete for grants to support CCS projects capturing at least 50,000 tonnes of CO2 annually.
• Boost for CCS development: The program aims to accelerate CCS technology adoption, reduce costs, and contribute to the EU's overall climate goals.
• Read the full article here.

Carbon Removal? Not Just a Market Problem

• Government policies are key to carbon removal: A Boston Consulting Group (BCG) report emphasises the crucial role of government policies in scaling carbon removal rather than relying solely on voluntary demand.
• Significant gap to fill: Despite the potential $500B-$1T market, a substantial gap remains between the amount of carbon removal needed and current projections.
• Clear carbon pricing and government procurement are essential: BCG recommends transparent carbon pricing, inclusion of CDR in emission trading schemes, and government procurement as critical drivers for scaling carbon removal.
• Read the full article here.

Carbon Credits Cultivate a Greener Future with Rewilding

• Pioneering partnership for rewilding: Treeconomy , Nattergal Ltd , and Naturalis Biodiversity Center have partnered to purchase carbon credits from a rewilding project for the first time.
• Breaking new ground for carbon finance: This collaboration sets a precedent for funding rewilding projects through carbon markets, opening up new opportunities for biodiversity restoration.
• Scaling impact: By demonstrating the financial viability of rewilding, this partnership aims to attract more investment and accelerate biodiversity recovery.
• Read the full article here.

Mercedes-Benz Pitches In for Carbon Removal

• Mercedes-Benz AG F1 invests in carbon removal: The team is committing to projects that actively remove carbon from the atmosphere to achieve Net Zero.
• Two-pronged approach: The team is investing in both a technology-based carbon removal project through Frontier and a nature-based soil carbon removal project in the UK.
• Part of broader sustainability goals: These investments complement the team's efforts to reduce emissions by 75% by 2030 and achieve a Net Zero supply chain by 2040.
• Read the full article here.

neustark's Million-Ton Mission Gets a €64.3M Fuel Injection

• neustark secures €64.3 million funding: Swiss carbon removal company neustark raises significant funds to accelerate its growth and scale its carbon removal technology.
• Innovative carbon removal solution: neustark's technology captures CO2 from biogas plants and mineralises it in construction waste, creating a permanent carbon sink.
• Rapid expansion: With 19 plants operational and 40 under construction, neustark is one of Europe's fastest-growing carbon removal companies, aiming to remove 1 million tons of CO2 by 2030.
• Read the full article here.

From Farm to Filter: Isometric Optimises Biochar for CCS

• Isometric develops new biochar protocol: The carbon removal registry has created guidelines for optimising biochar production and storage for long-term carbon removal.
• Focus on agricultural soils: The protocol specifically addresses biochar made from waste biomass and its use as a soil amendment.
• Rigorous crediting approach: Isometric is adopting a cautious approach to crediting biochar carbon, considering factors like carbon release and durability.
• Read the full article here.

Europe's Carbon Removal Experts Head East

• European group launches Indian CDR initiative: remove , a European carbon removal specialist, is expanding its operations to India to support local carbon dioxide removal (CDR) projects.
• Focus on biochar and enhanced weathering: Indian projects are expected to prioritise biochar and enhanced weathering as key CDR technologies.
• Support for Indian startups: remove will provide expertise, networking, and potential funding to Indian startups developing CDR projects.
• Read the full article here.

Exomad Green Seeds Change with 7,000 Hectares of Biochar

• Exomad Green enhances 7,000 hectares of soil: The company has successfully applied biochar to a significant land area to improve soil health and capture carbon.
• Positive impact on people and planet: The project benefits over 200 Bolivian farmers and helps mitigate deforestation caused by soil degradation.
• Community and collaboration: The company acknowledges the contributions of supporters and emphasises the importance of continued collaboration.
• Read the full article here.

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