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“Mammoth” is the second commercialdirect air captureplant opened by Swiss company Climeworks in the country, and is 10 times bigger than its predecessor, Orca, which started running in 2021.

Direct air capture, or DAC, is a technology designed to suck in air and strip out the carbon using chemicals. The carbon can then be injected deep beneath the ground, reused or transformed into solid products.

Climeworks plans to transport the carbon underground where it will be naturally transformed into stone, locking up the carbon permanently. It is partnering with Icelandic company Carbfix for this so-called sequestration process.

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5 Emerging Indian Stocks with High Growth Potential Stocks Set To Rise ✌️【Customized Planning】✌️ Free stock market analysis and real-time data to help you select the best investment portfolio and achieve stable returns. Next-gen climate solutions like DAC are gaining more attention from governments and private industry as humans continue to burn fossil fuels. Concentrations of planet-warming carbon dioxide in the atmospherereached a record highin 2023.

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But carbon removal technologies such as DAC are still controversial. They have been criticized as expensive, energy-hungry and unproven at scale. Some climate advocates are also concerned they could distract from policies to cut fossil fuels.

5 Emerging Indian Stocks with High Growth Potential Stocks Set To Rise ✌️【Customized Planning】✌️ Free real-time stock data analysis to help you capture global market trends and steadily grow your capital. This technology “is fraught with uncertainties and ecological risks,” said Lili Fuhr, director of the fossil economy program at the Center for International Environmental Law, speaking about carbon capture generally.

Climeworks started building Mammoth in June 2022, and the company says it is the world’s largest such plant. It has a modular design with space for 72 “collector containers” — the vacuumparts of the machine that capture carbon from the air — which can be stacked on top of each other and moved around easily. There are currently 12 of these in place with more due to be added over the next few months.

5 Emerging Indian Stocks with High Growth Potential Stocks Set To Rise ✌️【Customized Planning】✌️ Expert predictions of stock trends with real-time stock indices, metals, energy, and agricultural product data to help you make efficient investment decisions. Mammoth will be able to pull 36,000 tons of carbon from the atmospherea yearat full capacity, according to Climeworks. That’s equivalent to taking around 7,800 gas-powered cars off the road for a year.

Climeworks did not give an exact cost for each ton of carbon removed, but said it was closer to $1,000 a ton than $100 a ton – the latter of which is widely seen as a key threshold for making the technology affordable and viable.

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5 Emerging Indian Stocks with High Growth Potential Stocks Set To Rise ✌️【Customized Planning】✌️ Free stock selection service with precise predictions of high-potential stocks to help you stay ahead in the market. All the carbon removal equipment in the world is only capable of removing around 0.01 million metric tons of carbon a year, a far cry fromthe 70 million tonsa year needed by 2030 to meet global climate goals, according to the International Energy Agency.

5 Emerging Indian Stocks with High Growth Potential Stocks Set To Rise ✌️【Customized Planning】✌️ Expert market predictions with real-time global market, futures, metals, and energy data to help you stay in tune with market trends. There are already much bigger DAC plants in the works from other companies. Stratos, currently under construction in Texas, for example, is designed to remove500,000 tons of carbon a year, according to Occidental, the oil company behind the plant.

But there may be a catch. Occidental says the captured carbon will be stored in rock deep underground, but its website also refers to thecompany’s use of captured carbonin a process called “enhanced oil recovery.” This involves pushing carbon into wells to force out the hard-to-reach remnants of oil — allowing fossil fuel companies to extract even more from aging oil fields.

It’s this kind of process that makes some critics concerned carbon removal technologies could be used to prolong production of fossil fuels.

But for Climeworks, which is not connected to fossil fuel companies, the technology has huge potential, and the company says it has big ambitions.

Jan Wurzbacher, the company’s co-founder and co-CEO, said Mammoth is just the latest stage in Climeworks’ plan to scale up to 1 million tons of carbon removal a year by 2030 and 1 billion tons by 2050.

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