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Dr. Marcus Extavour, chief scientist and government vice chairman 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 lately awarded $15 million, which was break up amongst a bunch of 15 promising groups working to make carbon seize and elimination scalable and environment friendly on the gigaton degree. Marcus shares particulars concerning the winners and what applied sciences look like essentially the most promising path to eradicating 150 years of extra industrial and different human CO2 emissions from the environment. 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 are able to finish emissions by 2050, the planet’s environment might be cleaned up by 2100.
The Circular Carbon Network experiences that investments in carbon capture quadrupled between 2020 and 2021, rising by $875 yr over yr to roughly $3 billion invested in complete thus far. The XPRIZE examine additionally discovered that carbon know-how firms are already producing income — 29% of the businesses reported incomes greater than $1 million in income, and 56% of all carbon companies have some paying clients. This is a vital business to observe — it might take away the trillions of tons of anthropogenic carbon dioxide within the environment and finally return us to pre-industrial CO2 ranges. You can be taught extra concerning the XPRIZE Circular Carbon Network at circularcarbon.org.