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Do you have any policy regarding collaboration with the fossil fuel industry? (I'm asking because most past carbon capture projects are actually enhanced oil r

by hannob 5y ago

Do you have any policy regarding collaboration with the fossil fuel industry? (I'm asking because most past carbon capture projects are actually enhanced oil recovery projects, and the accounting they do for co2 avoided is... sometimes really creative. From what I'm aware Climeworks is not directly collaborating with the fossil fuel industry and does not do EOR, which I think is why they have a relatively good reputation.)

PaulHoule 5y ago
See https://en.wikipedia.org/wiki/Carbon_dioxide_flooding https://en.wikipedia.org/wiki/Carbon_dioxide_flooding Down in Texas there are places you can drill and get CO2 just like you drill for methane, oil, helium, etc. Since the late 1970s this has been a profitable business without anyone being paid for CO2 disposal.
markcyffka 5y ago
Thanks for the question. It's a tough & good one we want to take it directly as we can. At our early stage, we are focused on developing our capture technology & thinking carefully how to best partner with folks who can do sequestration. The fossil fuel companies know how to compress & inject gases underground at huge industrial scale. They, as well as the oilfield services companies that support them, have expertise that is difficult to access otherwise: they know how to build & monitor wells, find & characterize saline aquifers & other geologic formations where CO2 can be stored, and so on. Coming from our industrial background, we know that their expertise in these areas is not something we want to categorically ignore. Applications with the EPA for Class VI (non-EOR) wells are in the pipeline process around the US, and similar injection-only wells are being built/planned in other parts of the world and we are keeping a close eye on those developments. In addition, mineralization is a possible path too. I wish we could give a clearer answer. No doubt it's a complex question & we are thinking about it carefully in our planning.

by hannob 5y ago

PaulHoule 5y ago

See https://en.wikipedia.org/wiki/Carbon_dioxide_flooding https://en.wikipedia.org/wiki/Carbon_dioxide_flooding Down in Texas there are places you can drill and get CO2 just like you drill for methane, oil, helium, etc. Since the late 1970s this has been a profitable business without anyone being paid for CO2 disposal.

markcyffka 5y ago

Thanks for the question. It's a tough & good one we want to take it directly as we can. At our early stage, we are focused on developing our capture technology & thinking carefully how to best partner with folks who can do sequestration. The fossil fuel companies know how to compress & inject gases underground at huge industrial scale. They, as well as the oilfield services companies that support them, have expertise that is difficult to access otherwise: they know how to build & monitor wells, find & characterize saline aquifers & other geologic formations where CO2 can be stored, and so on. Coming from our industrial background, we know that their expertise in these areas is not something we want to categorically ignore. Applications with the EPA for Class VI (non-EOR) wells are in the pipeline process around the US, and similar injection-only wells are being built/planned in other parts of the world and we are keeping a close eye on those developments. In addition, mineralization is a possible path too. I wish we could give a clearer answer. No doubt it's a complex question & we are thinking about it carefully in our planning.