Avnos, a carbon removal startup, has secured $17 million in project financing from Shell and Mitsubishi Corp. to build a commercial demonstration plant for its direct air capture (DAC) technology. This facility, named Project Cedar, is expected to annually remove 3,000 tons of CO₂ from the atmosphere and produce 6,000 tons of clean water. Avnos' innovative "moisture swing" process uses water to isolate carbon, making it more energy-efficient than traditional DAC methods. This advancement addresses the high energy consumption typically associated with DAC technologies, potentially accelerating their adoption. axios.com
The scale of CO₂ capture in the DAC sector remains small compared to global emissions, but projects like Avnos' demonstrate the potential for scalable and affordable carbon removal solutions. The integration of water production adds an additional benefit, providing clean water in areas where it is scarce. As more companies invest in DAC technologies, the cost of carbon removal is expected to decrease, making it a more viable option for large-scale deployment. This progress is crucial for achieving global climate goals and mitigating the impacts of climate change. axios.com
Key Takeaways
- Avnos secures $17 million funding for DAC plant.
- Project Cedar to remove 3,000 tons of CO₂ annually.
- Innovative "moisture swing" process enhances energy efficiency.
- Facility also produces 6,000 tons of clean water per year.
- Advances in DAC technology contribute to global climate goals.