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A couple major manufacturers just scored big sources of new capital.
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Current conditions: Severe overnight storms in Central states killed at least three people • London is gearing up for a “mini heat wave” • Residents in California’s San Bernardino County are being told to stay away from Silverwood Lake due to a toxic algal bloom.
The Department of Energy yesterday announced the 10 “corridors” where new power transmission infrastructure could be expanded quickly in order to bolster the U.S. electrical grid. The potential National Interest Electric Transmission Corridors (or NIETCs) have been identified by the DOE as areas where “consumers are harmed, now or in the future, by a lack of transmission,” and new transmission projects could improve grid reliability and reduce costs for locals. Federal funds and special permitting options will be available to help build them out quickly.
DOE
The 10 corridors range from 12 miles to 780 miles in length. The public will have 45 days to have their say on the proposals, and then the DOE will narrow the list further. “In order to reach our clean energy and climate goals, we’ve got to build out transmission as fast as possible to get clean power from where it's produced to where it’s needed,” said John Podesta, senior advisor to the president for international climate policy. “The Biden-Harris administration is committed to using every tool at our disposal to accelerate progress on transmission permitting and financing and build a clean energy future.”
In case you missed it: Climeworks opened its newest commercial direct air capture plant yesterday. The Iceland-based facility, named Mammoth, is not yet operating at full capacity, with only 12 of its planned 72 capturing and filtering units installed. When the plant is fully operational — which Climeworks says should be sometime next year — it will pull up to 36,000 metric tons of CO2 out of the atmosphere annually. For scale, that’s about 1/28,000th of a gigaton. To get to net zero emissions, we’ll have to remove multiple gigatons of carbon from the atmosphere every year. “So in the context of where we need to go, Mammoth is almost nothing,” wrote Heatmap’s new climate tech reporter Katie Brigham. “But in the context of our current reality, it’s nine times the size of the next largest DAC facility: another Iceland-based Climeworks plant called Orca. And it’s a major stepping stone towards the company’s ultimate goal of capturing a million metric tons of CO2 yearly by 2030 and a billion by 2050.”
And speaking of carbon removal, the Elon Musk-backed Xprize yesterday unveiled a shortlist of 20 finalists in its $100 million global competition to discover and develop breakthroughs in the field. The list is broken up into categories: air, rocks, land, and ocean. U.S.-based finalists include:
What’s next? The companies will need to remove 1,000 metric tons of carbon dioxide over one year in order to move ahead in the competition. They’ll also have to prove scalability.
The death toll from flooding in Brazil climbed to 100, and the rain is expected to continue through the weekend. Before-and-after satellite images show the extent of the disaster. Here is a crude screenshot from Google Earth, showing Porto Alegre in the state of Rio Grande do Sul, prior to the floods, followed by an image of roughly the same region, captured by Copernicus, that speaks for itself:
Google Earth
European Union, Copernicus Sentinel-2 imagery
Human activity is rapidly changing the natural environment, and this is fueling the rise of dangerous diseases, according to a new study published in the journal Nature. The research pulls together findings from nearly 1,000 previous studies on environmental damage to paint a more complete picture of how humanity’s disruption to nature is enabling the spread of pathogens – for humans, yes, but also for animals and plants. It concludes that biodiversity loss, toxic chemicals, the introduction of invasive species, and of course, human-caused climate change, are all associated with “increases in disease-related end points or harm.” Biodiversity loss was found to be particularly dangerous, because it likely drives pathogens to evolve to target new and more abundant hosts.
One biologist who wasn’t involved in the research called it “one of the strongest pieces of evidence that I think has been published that shows how important it is health systems start getting ready to exist in a world with climate change, with biodiversity loss.”
Florida is likely to make it illegal to release balloons into the air outdoors.
Here are six things to know about it.
If one company has set the pace for direct air capture, it’s Climeworks. The Switzerland-based business opened its — and the world’s — first commercial DAC plant in 2017, capable of capturing “several hundred tons” of carbon dioxide each year. Today, the company unveiled its newest plant, the aptly named Mammoth. Located in Iceland, Mammoth is designed to take advantage of the country’s unique geology to capture and store up to 36,000 metric tons of carbon per year — eventually. Here’s what you need to know about the new project.
Mammoth is not yet operating at full capacity, with only 12 of its planned 72 capturing and filtering units installed. When the plant is fully operational — which Climeworks says should be sometime next year — it will pull up to 36,000 metric tons of CO2 out of the atmosphere annually. For scale, that’s about 1/28,000th of a gigaton. To get to net zero emissions, we’ll have to remove multiple gigatons of carbon from the atmosphere every year.
“The engineered solutions will have to play a major — and I would say even the major part of this task,” said Climeworks CEO Jan Wurzbacher at the virtual press conference for Mammoth’s unveiling. In his opinion, nature-based solutions “will not be able to scale to the level where we need them to be.”
So in the context of where we need to go, Mammoth is almost nothing. But in the context of our current reality, it’s nine times the size of the next largest DAC facility: another Iceland-based Climeworks plant called Orca. And it’s a major stepping stone towards the company’s ultimate goal of capturing a million metric tons of CO2 yearly by 2030 and a billion by 2050.
Climeworks first broke ground on Mammoth in June 2022, and 18 months later the company announced that the “core pieces of the plant are built.” Now that the plant has started capturing CO2, Climeworks says the rest of 2024 will be devoted to installing the remaining CO2capture units and ramping toward full capacity.
Thus far in its history, Climeworks has largely avoided the construction delays that often plague first-of-its-kind projects. “They’re coming out with new projects every three to four years, which is a pretty wild timeline,” said Erin Burns, Executive Director of the nonprofit Carbon180.
Through Climework’s partnership with Icelandic geothermal company ON Power, Mammoth is powered in full by geothermal energy — although the company has long been reticent about how much energy, exactly, it needs.
At any rate, Climeworks has committed to powering the direct air capture process as well as its storage process with 100% renewables in the long run. The company cited Kenya, New Zealand, and Indonesia as other areas that would be geologically advantageous for future Climeworks facilities, as all have substantial geothermal resources.
Climeworks said it would be able to disclose an exact cost per metric ton of carbon removal figure after Mammoth has been operational for a year or two. But in the meantime, Wurzbacher said the company is “closer to the $1,000 per ton mark than we are to the $100 per ton mark.” He expects prices to drop as the company further scales, and is aiming for $300 to $350 per metric ton by 2030, and ultimately $100 per metric ton by 2050. That’s in line with the Department of Energy’s Earthshots initiative, which aims to reduce the cost of a variety of carbon dioxide removal pathways to below $100 per metric ton by 2050.
While Climeworks hasn’t divulged Mammoth’s lifetime carbon removal capacity, it said the plant is designed to operate for 25 years, and that a third of its lifetime capacity has already been sold. The remainder will be sold in the next year or two, representatives told reporters
The company has offtake agreements with more than 160 organizations including some major corporate buyers such as JPMorgan Chase, Boston Consulting Group and Microsoft. Many of these agreements span a decade or more and involve tens of thousands of tons of CO2 removal from current and future Climeworks projects. (The company also recently opened a marketplace, Climeworks Solutions, to package and sell “high quality” carbon credits from other carbon removal companies.)
The Mammoth plant was primarily financed by Climework’s own equity, said Wurzbacher. “But going forward, project financing will be vital to accelerate the scale up. And for that, such long-term offtake agreements are important.”
Now that the plant is operational, it should help drive more investment, Dana Jacobs, chief of staff at the Carbon Removal Alliance, told me. “Having carbon removal projects that you can see and reach out and touch and understand is so critical,” she said.
Climeworks said the lessons from Mammoth will help the company scale further as it enters the U.S. market through its participation in the Department of Energy-funded direct air capture hub, Project Cypress in Louisiana.
Climeworks is working on Project Cypress alongside developer Battelle and another direct air capture company, Heirloom. The project is designed to capture a million metric tons of CO2annually by 2030, and recently received an initial $50 million grant from the DOE to kickstart the project’s planning, design and community engagement processes.
Editor’s note: This story has been updated with quotes and additional information from Climeworks’ team.
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