As countries strive to achieve net-zero greenhouse gas emissions, some industrial emissions remain difficult to eliminate through conventional methods alone.
Carbon capture and storage (CCS) technologies present a promising solution, capable of capturing and permanently storing CO₂ from industrial and energy processes at a gigatonne scale.
What are carbon capture and storage technologies?
Carbon capture and storage (CCS) technologies aim to reduce carbon emissions from industrial facilities or power plants. These technologies capture carbon dioxide at the source and store it underground to prevent the release of CO₂ into the atmosphere. Various industries that highly depend on fossil fuels, like cement and steel, can integrate CCS to address emissions from operations that are difficult to decarbonize.
How do carbon capture technologies work?
Carbon capture technologies reduce carbon dioxide emission through three key stages: capturing, transporting, and storing CO₂ to prevent its release. Here, we examine each stage in detail to understand its role in curbing greenhouse gas emissions.
Capturing carbon dioxide
CO₂ is separated from industrial emissions or directly extracted from air using advanced techniques, including:
- Post-combustion: Extracts CO₂ from flue gases using chemical solvents after combustion.
- Pre-combustion: Separates CO₂ from syngas produced by gasifying fuels before combustion occurs.
- Oxy-fuel combustion: Burns fuel with oxygen to create a concentrated CO₂ flue gas for easier removal.
- Direct air capture: Facilitates carbon dioxide removal directly from the air through specialized chemical reactions.
Transporting carbon dioxide
Captured CO₂ is compressed and moved to storage locations using practical transportation methods, such as:
- Pipelines: Pipelines serve as the most efficient option for long-distance transport of large CO₂ quantities.
- Ships: Ships are used when pipelines are impractical due to geographic or logistical challenges.
- Trucks: Trucks handle smaller volumes or shorter distances for specific projects.
Storing carbon dioxide
Storage options ensure CO₂ remains isolated from the atmosphere for long-term containment. Key options include:
- Geological storage: Involves injecting CO₂ into underground geological formations like depleted oil fields, gas fields, or deep saline aquifers.
- Mineralization: Converts CO₂ into stable carbonates by reacting it with naturally occurring minerals.
- Industrial utilization: Uses captured CO₂ in manufacturing or enhanced oil recovery to add economic value.
Examining the top 10 carbon capture technologies in 2024:
This list highlights ten of the most impactful CCS technologies available in 2024. Each carbon capture and storage technology provides industries with scalable, efficient solutions to achieve meaningful progress toward a low-carbon future.
Advanced KM CDR process (KS-21 solvent)
The KM CDR process utilizes the KS-21 solvent, a liquid absorbent designed for large-scale CO₂ capture. It is applied in various sectors, including LNG, biomass, and coal, with 33 active projects currently using the system.
Investment potential: MHI’s technology has been successfully deployed in 15 commercial plants, including the high-impact Petra Nova facility and the newly launched Ravenna project. Strategic partnerships, such as with Drax Group, and continued investment in R&D, further position MHI as a leader in the growing carbon capture market. These initiatives attract investors seeking sustainable and high-efficiency solutions.
Combined MOFs with solid sorbents
This technology by Nuada combines metal-organic frameworks (MOFs) with solid sorbents to improve CO₂ capture efficiency. It is being tested at Nuada’s pilot facility and is designed for applications in sectors such as energy-from-waste and cement, with a focus on scalability and cost-effectiveness.
Investment potential: Nuada’s recent $10 million Series A funding, backed by prominent investors like BGF and Barclays Sustainable Impact Capital, highlights strong investor confidence in its innovative carbon capture technology. This funding positions Nuada well for growth and signals its potential to contribute significantly to net-zero emissions goals across multiple industries.
ESG clean energy post combustion capture
Designed for capturing CO₂ from natural gas emissions, this technology by ESG Clean Energy caters to the power sector and is compatible with existing energy setups without compromising energy output. Active in Holyoke, Massachusetts, this technology focuses on gas-fired plants, making it ideal for the power sector.
Investment potential: ESG Clean Energy presents investment potential through its patented carbon capture technology, achieving 100% CO₂ removal with cost reductions. The technology’s effectiveness has been demonstrated at the Holyoke plant, with additional licensing agreements expanding its reach in North America. Supportive policies, such as the U.S. 45Q tax credit, further underscore the relevance of ESG Clean Energy’s approach within the clean energy sector.
Seabound OCCS
Seabound OCCS technology utilizes calcium looping to capture CO₂ onboard maritime vessels. Actively implemented on vessels such as the Sounion Trader, it addresses the unique emission control needs of the maritime industry.
Investment potential: This technology has potential for investment in the shipping industry as emissions regulations become more stringent. Factors supporting this potential include regulatory measures, such as the EU’s Fuel EU Maritime Regulation and the inclusion of large ships in the EU Emissions Trading System (ETS) from 2024, both of which promote the adoption of emission-reducing technologies. Seabound OCCS offers offshore carbon capture capabilities designed to capture CO₂ from ship exhausts efficiently.
Electrochemical CCS
This electrochemical process captures CO₂ while producing valuable byproducts, such as fuels, making it an attractive option for sectors looking to integrate carbon capture with production. Oak Ridge National Laboratory’s (ORNL) technology is particularly suited to power sectors where reusable byproducts are advantageous.
Investment potential: Electrochemical CCS offers the potential for emissions reduction and resource recovery. The technology captures CO₂ and generates valuable byproducts, supporting sustainability goals while providing revenue opportunities. Advances in this field, along with supportive policies like the U.S. Inflation Reduction Act and the EU Innovation Fund, promote an encouraging environment for adoption.
Electrochemical direct ocean capture (DOC)
SeaO2’s DOC technology uses electrochemical processes to capture CO₂ directly from seawater. Currently under pilot construction, this system is ideal for maritime and coastal applications.
Investment potential: SeaO2’s electrochemical DOC technology presents investment potential through its novel approach of capturing CO₂ directly from seawater. Key features include scalable carbon capture, the production of valuable byproducts like hydrogen, and alignment with emissions regulations, including those from the International Maritime Organization. Moreover, collaborative research with TU Delft and Wetsus enhances its credibility.
GeoLoop CC
GeoLoop’s technology, tested at Yara Porsgrunn’s facilities, employs a proprietary absorption process to capture CO₂ from emissions of industrial plants. It is particularly suited to industrial sectors such as fertilizer production.
Investment potential: Ocean GeoLoop’s carbon capture technology offers significant investment potential due to its specialized application in high-emission industrial processes and innovative all-electric capture method. It benefits from strong financial backing from Chevron, alignment with regulatory trends, and growing market demand for effective carbon capture solutions.
Capsol EoP technology
Using advanced liquid absorption, Capsol EoP technology reduces CO₂ emissions in the power and cement industries. Active in nine projects, including Sargas Vartan and Sargas Husnes, it demonstrates flexibility for applications from biomass to cement.
Investment potential: Capsol’s partnerships with companies like Sumitomo SHI FW enhance its credibility and market reach. Ongoing demonstration campaigns at various biomass and EfW plants showcase the practical application of its technology and further validate its effectiveness. The collaboration with leading cement producers in Europe reflects the growing traction of Capsol’s technology in high-emission sectors.
C-Capture solvent technology
C-Capture’s amine-free solvent system targets sectors including biomass and waste-to-energy and is used in projects like Zero Carbon Humber and East Coast Cluster. The system’s design addresses environmental concerns associated with traditional amines.
Investment potential: C-Capture’s modular design allows for straightforward integration into both existing facilities and new plants, enabling companies to retrofit operations with minimal investment and downtime. The technology is also scalable, with a commercial demonstration plant planned to capture 100–200 tons of carbon dioxide daily, indicating its potential for broader application.
Climeworks direct air capture (DAC)
Climeworks, one of the leading carbon capture technology companies, offers DAC technology to remove CO₂ directly from ambient air. It has been deployed in projects such as Orca, Mammoth, and Project Cypress in Louisiana, making it a relevant choice for industries pursuing carbon neutrality.
Investment potential: The recent introduction of Climeworks’ Generation 3 DAC technology features advanced structured sorbent materials. It has doubled CO₂ capture capacity per module while cutting energy consumption and costs by half, aiming for a target capture cost of $250–$350 per ton by 2030.
Large-scale deployment initiatives, such as the Mammoth plant, currently the world’s largest DAC facility, and the development of U.S.-based megaton hubs, underscore Climeworks’ commitment to scaling up carbon removal. Significant financial backing, including a $650 million equity round and partnerships with organizations like BCG, provide stability for expansion.
Can CCS technologies help to combat climate change?
While CCS technologies hold promise for reducing greenhouse gas emissions, they still face significant challenges regarding scalability, economic viability, and reliance on subsidies. As we approach critical climate targets, we must view carbon capturing technologies as part of a broader strategy that includes aggressive investments in renewable energy and energy efficiency measures.
The future of CCS will depend on technological advancements, robust policy frameworks, and private-sector engagement to ensure its effectiveness in combating climate change.
