According to a report issued by Decarb Connect, 65% of executives in industries that are difficult to decarbonize believe that carbon capture, utilization and storage (CCUS) technology is a necessity in their sectors to help them achieve net-zero goals.
The report titled “Scaling up CCUS – market insights” is based on anonymous survey responses from professional in senior executive positions, as well as the contribution of an expert panel. Decarb Connect is a platform that seeks to connect hard-to-abate industries and sets an annual agenda for research, benchmarking data, and various events connected to decarbonization.
Decarb Connect worked together with Carbon Clean to create the report – one of the world’s leading suppliers of industrial carbon capture solutions.
Carbon Clean has been very active in advancing the use of carbon capture technology by establishing partnerships with multiple companies seeking to explore its potential. This year alone the firm announced a significant number of such new partnerships.
One of these is with energy solutions company BayoTech, the aim of which is the development of on-site hydrogen with carbon capture solutions, as well as the exploration of biogenic sources. Another recent partner is Veolia, with whom Carbon Clean will be joining forces to develop compressed biogas and CCUS projects in India.
The intention of Decarb Connect’s report is to help address the questions and uncertainties around decarbonization technologies that many companies have. Specifically, companies are faced with the dilemma of committing to carbon capture too soon and risk missing out on new developments or waiting too long and falling too far behind.
Other issues are also addressed in the report and to make it as comprehensive as possible, it has been broken down into three main sections. These are:
- The Economics of Carbon Capture;
- The Operational Challenges Around CCUS;
- The Pace of Rollout.
As demonstrated in the report, 60% of respondents plan to adopt CCUS solutions in the next decade. And thanks to this and other data featured inside, Carbon Clean and others can come up with more effective solutions to scale up adoption of CCUS.
Thus, for instance, Carbon Clean will be launching its first fully modular carbon capture technology that aims to simplify CCUS by making it more scalable and affordable.
To find the full report you can click here.