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The Carbon Corner - Issue #30

Published about 1 year ago • 4 min read

Welcome back to the Carbon Corner!

Today, we are discussing new projects as well as possible legislation the EPA plans to put on to regulate power plant emissions.

There's much to catch up on, so let's get started!

US to Fund at Lease Four Future DAC Factories

The US government recently took the lead globally for the highest financing of Direct Air Capture (DAC) factories. The newest grant is worth $3.5 billion and will go towards building DAC factories that will be used to capture and store carbon dioxide. The tax credit amount was also expanded to $180/tonne.

The US has said they want to support at least four hubs and have had nine applications during the first round of acceptance. The graphic below, created by Reuters, shows the significant plants in the US and those who are applying.

We will keep you posted as more information comes out!

CGG and Paragon to Join Forces on Carbon Sequestration Projects in North America

CGG and Paragon Geophysical Services, Inc. signed a Memorandum of Understanding (MoU) that will combine their capabilities to develop a Carbon Sequestration project in North America.

GCG has a background of assisting with the geoscientific areas of carbon capture for more than 15 years. The company specializes in site monitoring, design optimization, and development of sites.

Paragon has operated in the space for the past 20 years, working to acquire geophysical data and execute carbon capture storage applications on different sites across the Midwestern United States.

The companies have yet to release further specifics of their plan, but we hope for more information soon. Peter Whiting, EVP of Geoscience at CGG, said, "Our collaboration with Paragon to support the development of subsurface carbon sequestration assets in North America with our innovative technologies reflects CGG's ongoing commitment to provide essential services for the energy transition. With our combined strengths in this key area for achieving net-zero targets, we will provide clients with critical insight, enabling them to optimize their storage and monitoring plans, reduce costs, and have greater confidence in site conformance for improved operations and public acceptance."

Lomarlabs Partners with Seabound to Develop Carbon Capture Technology on Vessels

Lomarlabs has partnered with Seabound, a climateTech startup, aiming to reduce emissions produced from their shipment vessels. Seabound already has a carbon capture device that will be retrofitted into the engine exhaust. The carbon reacts with pebbles of quicklime, which turn into limestone. The limestone then captures and locks the CO2. Once the boat returns to port, the limestone is sold or turned into quicklime to be used on different vessels.

Plans for installation are set for May or June of 2023, and the pilot project will run through the summer. The UK Department of Transport will fund the project as part of the Clean Maritime Demonstration Competition Round 3 (CMDC3), to which the UK government allocated $74.2 million.

Yale Center to Launch New Research Labs for Carbon Capture

The Yale Center for Nature Carbon Capture funded the hiring of 4 new faculty members to create research programs on carbon capture. The $100 million center, funded in 2021 by Fedex, Southwest Airlines, and Boeing Corporation, was designed to study the applied science of storing and converting carbon dioxide into valuable materials and fuels.

The labs will focus on carbon capture processes in the planet's oceans, coastal ecosystems, tropical forests, and soil. The processes will be analyzed to determine how they can be utilized to reduce emissions at a larger scale.

One of the new hires, Paulo Brando, commented, "People at the Yale Center for Natural Carbon Capture are truly serious about the synergy that can grow out of this. There is momentum here to find ways to quantify the roles of nature-based solutions for climate mitigation that you don't see at very many places."

EPA to Announce New Regulations for Greenhouse Gas Emissions

There is recent talk that the US Environmental Protection Agency (EPA) is about to announce new limits on greenhouse gas emissions from power plants. If true, businesses could be compelled to capture the pollution, a procedure done by fewer than 20 of the country's 3,400 gas and coal plants.

About 60 percent of the electricity generated in the United States last year came from burning fossil fuels, such as coal, natural gas, and petroleum. According to those more familiar with the possible regulation, plants would have to capture or cut nearly all their CO2 emissions by 2040, which would cause a lot of pushback.

Maria Michalos, an EPA spokeswoman, said the agency is "moving urgently to advance standards that protect people and the planet, building on the momentum from President Biden's Investing in America economic agenda, including proposals to address carbon emissions from new and existing power plants."

Patrick Morrisey, the Republican attorney general of West Virginia, said on Friday that he and others were waiting to see the plan. In a statement, he remarked, "We are eager to review the EPA's new proposed rule on power plants, and we'll be ready once again to lead the charge in the fight against federal overreach."

Schaper Energy Consulting is a professional engineering firm offering carbon strategy services to CCS site developers. Check out some examples of our projects here: https://schaperintl.com/carbon-strategies/

If you have questions or comments, please contact us at info@schaperintl.com.

We hope you enjoyed reading this week and hope to see you back next week for more!

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