Carbon Removal Companies: An Idea with a Deadline

Every day, the news seems to get worse. The latest IPCC report says that we have just twelve years to take serious action on climate change, or the world will face catastrophic consequences.

As if that weren't daunting enough, CO2 levels in the atmosphere are now at 410 parts per million (ppm), a dangerous level scientists say could cause global temperatures to rise by as much as 7°C this century.

We're already seeing the effects of climate change around the world, and it's only going to get worse. Unless we take drastic action, things are going to spin out of control quickly.

So what can be done?

Some people think we need to focus on reducing emissions. But even if every country met its Paris Agreement goals, it still wouldn't be enough.

To avoid disaster, we need to also remove carbon dioxide from the atmosphere.

That's where carbon removal companies come in.?

In today’s RFS, I’ll be exploring why carbon removal is so important – and why CEOs of carbon removal companies should be talking about it.

I’ll also look at some challenges and opportunities for this growing industry.

The Different Types of Carbon Removal Technology

As the world becomes increasingly aware of the need to address climate change, a number of different ideas for carbon removal technology have been proposed.

One popular idea is direct air capture, which involves using massive fans to filter carbon dioxide out of the atmosphere.

Another proposal is to build giant artificial trees that would absorb carbon dioxide and then release oxygen.

Alternatively, some scientists have suggested using chemical processes to convert carbon dioxide into harmless compounds such as calcium carbonate.

While there is no perfect solution to the problem of climate change, it is clear that there are a number of potential ways to remove carbon from the atmosphere.

With continued research and development, one or more of these ideas may someday be turned into a reality.

Carbon Removal Companies Around the World

The fight to reduce carbon emissions is an important one, and these companies are doing their part in fighting climate change.

Let’s take a look at them.

?? carbonfuture is a German end-to-end platform for companies who want to participate in removing carbon from the atmosphere. The service is done through its digital platform, project financing tools, and long-term partnerships.

Funding: ?€5,500,000 (Seed)

?? UK-based Carbon Clean Solutions is an innovation company specializing in carbon dioxide recovery technology for industrial purposes.

Funding: ￡121M (Series C)

?? Patch Technologies is an American company based in California that focuses on building infrastructure for a climate-positive economy, starting with an API for carbon removal.

Funding: $55M (Series B)

?? Twelve is a carbon transformation company that eliminates emissions by turning CO2 into essential products.

Funding: $130M (Series B)

?? US-based CarbonCaptureInc. is a climate tech company that makes machines that remove CO2 directly from the atmosphere.

Funding: $35M (Series A)

Carbon Removal Technology Companies in MENA and Pakistan

While I see there are plenty of projects happening in the region, there are no companies or startups leading the innovation in this field.?

Clean Air Task Force’s new carbon management tracker for the MENA region shows ten carbon removal projects, five of which are operational. But there are no startups on that list.

That number is still smaller than the region’s counterparts across Europe and the USA, where there exist many more operations.

Filling the Gap

With its rich geology, MENA is well-positioned to lead the way in cutting carbon emissions. The region has an abundance of clean energy sources like wind power and solar energy.

The region also has decades of experience with managing climate change through technologies such as retrofitting power plants or enabling large-scale hydrogen production to export to neighboring regions.

Because of its prime location, the Middle East region is hosting both COP27 (taking place in Sharm El Sheikh, Egypt) and COP28 (Dubai, UAE). Technological ramifications will be assessed during the climate change conference, particularly focusing on Direct Air Capture and storage solutions, and discuss the business models, investment vehicles, and regulatory incentives to help address the current investment gap.

This would be a good opportunity for carbon removal startups to pitch their ideas to an interested and relevant audience.

Climate change is a huge problem, but with concerted efforts from all sectors of society, we can start to find solutions.

Carbon removal is one piece of that puzzle – and it's time for businesses and CEOs to start paying attention.

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If you or someone you know works in the Carbon Removal Technology sector, send me a message! I’d love to connect and see how we can help each other achieve success.

Until next time. ????