Politics and Government Politics and Government

Climate tech firms get $80 million to pull carbon from paper mills, sewage plant


Published on 2024-12-18 04:20:48 - Reuters
  Print publication without navigation

  • Google, H&M, Stripe and other members of the climate-focused Frontier coalition will buy $80 million of carbon credits from a firm using oil industry technology to capture paper mill emissions and another using rocks to do the same at sewage plants.

The article from Reuters discusses a significant investment in climate technology aimed at reducing carbon emissions. Two companies, Graphyte and Carbon Capture Scotland, have secured a combined $80 million to advance their carbon capture and storage projects. Graphyte, based in the U.S., has raised $50 million to develop its technology that converts waste biomass into carbon-storing blocks, which are then buried to prevent CO2 release. Meanwhile, Carbon Capture Scotland received $30 million to capture CO2 from industrial sources like paper mills and a sewage treatment plant, with plans to store it in depleted oil and gas fields under the North Sea. These initiatives are part of a broader push towards achieving net zero emissions, with both companies focusing on scalable, cost-effective solutions to manage carbon dioxide.

Read the Full Reuters Article at:
[ https://www.reuters.com/sustainability/climate-tech-firms-get-80-million-pull-carbon-paper-mills-sewage-plant-2024-12-17/ ]