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Dr. Marcius Extavour, chief scientist and government vp of the XPRIZE Circular Carbon Network, talks concerning the state of the carbon capture industry and the winners of the primary spherical of the $100 million round carbon problem funded by Tesla founder Elon Musk. They just lately awarded $15 million, which was break up amongst a gaggle of 15 promising groups working to make carbon seize and elimination scalable and environment friendly on the gigaton stage. Marcius shares particulars concerning the winners and what applied sciences seem like essentially the most promising path to eradicating 150 years of extra industrial and different human CO2 emissions from the ambiance. As previous guests have explained, CO2 is a primary constructing block for fuels, chemicals, construction materials, and myriad consumer products. The indicators counsel that, if we will finish emissions by 2050, the planet’s ambiance might be cleaned up by 2100.
The Circular Carbon Network studies that investments in carbon capture quadrupled between 2020 and 2021, rising by $875 yr over yr to roughly $3 billion invested in whole to this point. The XPRIZE examine additionally discovered that carbon expertise corporations are already producing income — 29% of the businesses reported incomes greater than $1 million in income, and 56% of all carbon corporations have some paying prospects. This is a crucial business to comply with — it may take away the trillions of tons of anthropogenic carbon dioxide within the ambiance and finally return us to pre-industrial CO2 ranges. You can study extra concerning the XPRIZE Circular Carbon Network at circularcarbon.org.
This podcast initially aired on June 6, 2022.