Irish agribusiness ClonBio has been awarded funding in the form of a €48.4 million (~$50.4 million) grant from the European Union to support a groundbreaking carbon capture and storage (CCS) initiative.
This project has the potential to significantly reduce atmospheric carbon dioxide emissions.
ClonBio, which produces proteins, animal feed, biofuel, ethanol, alcohol, and renewable gas, confirmed the substantial funding for what will be Europe’s first large-scale carbon capture operation.
The company operates grain processing facilities in Europe and the US, and a renewable gas plant in County Kildare, Ireland.
The project, named Danube Removals, will capture carbon dioxide produced during fermentation at ClonBio’s Pannonia facility in Hungary.
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This captured CO2 will then be injected and stored in deep onshore wells located nearby. ClonBio projects that this process will prevent approximately 500,000 metric tons of CO2 from being released into the atmosphere annually.
ClonBio is partnering with Emov, a UK firm specializing in subsurface exploration, to develop Danube Removals.
The resulting negative emission credits generated by the project will adhere to the EU’s new certification standards.
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