Advising on innovative carbon capture technology

THE BACKGROUND

Greenhouse gas (GHG) reduction efforts must be strongly supported to meet current climate challenges. The diffusion and adoption of carbon-capturing techniques is one of the important solutions that can contribute to the removal of CO2 in the atmosphere.

Direct air capture (DAC) plays an important and growing role in net zero pathways. Capturing CO2 directly from the air and permanently storing it removes the CO2 from the atmosphere, providing a way to balance emissions that are difficult to avoid, including from long-distance transport and heavy industry, as well as offering a solution for legacy emissions.

DAC technologies can extract CO2 directly from the atmosphere at any location, unlike other forms of carbon capture which are generally carried out at the point of emissions, such as a steel plant or power station.

THE PROJECT

This advisory service took place under the umbrella of the Solar Impulse Foundation. For this particular project, FINANCE FOR IMPACT has been mandated to assess and critique an early-stage carbon capture solution developed by a European start-up seeking to obtain the Solar Impulse Efficient Solution Label.

The assignment consisted in benchmarking various carbon capture processes, including one based on microalgae. Microalgae is an emerging solution that naturally executes photosynthesis, releasing oxygen, purifying the air, and fixing CO2 by turning it into biomass. Direct CO2 capturing from the air using microalgae/biomass is a natural, plant-based solution and, therefore, can constitute an environmentally friendly alternative to the chemical and physical CO2 capture methods.

THE RESULTS

FINANCE FOR IMPACT provided an assessment of the feasibility, environmental and climate benefits, and cost effectiveness of the carbon capture technology based on microalgae. It reviewed the value proposition of alternative solutions and assess the likelihood of the new microalgae carbon capture solution to reach scalability and sustain a positive footprint in the future.