45. Climeworks

Published

2 years ago

May 9, 2023

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Founders: Jan Wurzbacher, Christoph Gebald (co-CEOs)
Launched: 2009
Headquarters: Zurich, Switzerland
Funding: $810 million
Valuation: $1 billion
Key technologies: N/A
Industry: Construction
Previous appearances on Disruptor 50 List: 0

Persephone Kavallines

Reducing carbon emissions may be the most important part of the efforts to slow climate change, but it may not be enough. Increasingly, there’s a focus on capturing carbon from the atmosphere and storing it.

Swiss startup Climeworks AG was among the first to pursue this new technology. The company created a demo prototype in 2012 and launched its first direct carbon capture plant in Iceland two years later. The facility, called Orca, looks like a warehouse surrounded by four giant air filters. It can draw in 4,000 tons of carbon a year. The company partners with CarbFix, which dissolves the captured carbon dioxide in water, then combines the mixture with basalt rock formations. The carbon dioxide converts into solid carbonate minerals in about two years. Climeworks also sells some of the carbon dioxide for use in sparkling water or soft drinks.

This past June, Climeworks broke ground in Iceland on its second direct air capture facility, called Mammoth. Once completed, the plant will have the capacity to draw and store up to 36,000 tons of carbon a year. The company is reportedly eyeing the U.S. market next and has teamed up with Heirloom, a California-based carbon capture firm, and Battelle, a non-profit firm, to bid for a $500 million U.S. grant to commercialize carbon capture and storage.

Supporting the company are not only investors, but corporate clients. Climeworks started providing certified carbon removal services to Microsoft, Spotify and Stripe earlier this year for an undisclosed price. Their customer base currently includes more than 160 companies and more than 18,000 individual supporters who pay Climeworks to offset their personal emissions.

More coverage of the 2023 CNBC Disruptor 50

While carbon capture and storage technology is relatively new, interest is heating up. Climeworks raised $650 million in April. Meanwhile, Stripe, Alphabet, Meta, Shopify and McKinsey said they were teaming up to create Frontier, which will invest nearly $1 billion in the carbon-capture market. The Bipartisan Infrastructure Bill included $3.5 billion in direct investment by the government into carbon-capture technology, and has spurred energy giants including ExxonMobil to get serious about new projects, while both Europe and the U.K. have committed to capture 5 million tons of carbon dioxide a year.

In Climeworks early days, it wasn’t clear that enough support would surround the idea.

“Back in 2009, the environment was definitely very different,” Climeworks co-CEO and Founder Jan Wurzbacher told CNBC in a June 2022 interview. “There was an ongoing climate debate, but it was more a debate about how can we avoid emissions. And when we came up with the method of capturing carbon dioxide from the atmosphere, many people said, ‘Hey, wait a minute, let’s not waste our time with that.'”

Now the United Nations’ Intergovernmental Panel on Climate Change (IPCC) includes carbon capture in its recommendations for addressing global warming. “CDR is also an essential element of scenarios that limit warming to 1.5°C or likely below 2°C by 2100, regardless of whether global emissions reach near zero, net zero or net negative levels,” its 2022 technical update stated.

Despite this interest and billions being invested, carbon-capture and storage still has many challenges, starting with cost and scalability. The power needed to suck carbon out of the air is significant enough to be a barrier to growth, according to ratings agency BeZero Carbon. There are also far cheaper ways to take carbon out of the air, like by planting trees, though that requires more land.

—CNBC’s Cat Clifford contributed reporting.

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Environment

Farm-fegnugen? Volkswagen rolls out an electric tractor

Published

4 hours ago

November 20, 2024

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Farm-fegnugen? Volkswagen rolls out an electric tractor

Pilot modern farming with e-tractors: Volkswagen Group Africa announces the start of operations of a multifunctional facility in Africa

Volkswagen Group Africa has officially begun production of a modern electric farm tractor at its multifunctional facility in Gashora, Rwanda in a bid to advance modern, low-emission agricultural initiatives in Africa.

Part of a larger Rwandan initiative called the GenFarm Project, the new VW tractor is part of a “holistic ecosystem” of electrified farming machinery set to be used throughout rural Africa – where liquid fossil fuels are often just as difficult to come by as electricity. The goal is to provide machinery that’s both sustainable and reliable.

“We are growing our footprint in Africa and regard Rwanda as a key growth market. This project demonstrates our commitment to sustainable practices and highlights our ability to provide mobility solutions to the rural community in addition to the urban community currently serviced by our Volkswagen Mobility Solutions Rwanda business,” explains Martina Biene, Volkswagen Group Africa Chairperson and Managing Director. “The GenFarm Project fosters technological innovation and aligns with Volkswagen Group’s strategy to generate meaningful value for both society and the environment through sustainable mobility.”

The GenFarm project will eventually provide mobility services for transportation of goods and people. In June 2023, Volkswagen Group Africa signed a Memorandum of Understanding (MoU) with the Government of Rwanda to provide land for the establishment of the GenFarm Project.

The Volkswagen tractors’ electric motor produces 20 kW (about 27 hp), making it about the same size as the Solectrac product (which hasn’t worked out well in the US, it must be said). That motor gets its electrons from a 32 kWh swappable battery. Batteries are swapped/charged at the Empowerment Hub to minimize downtime. DC fast charging isn’t available, but the relatively small, swappable batteries (hopefully) mean that’s not much of a problem.

The GenFarm project hopes the new VW electric tractor will help clean up Rwanda’s agricultural sector, which currently accounts for some 25% of the national Gross Domestic Product.

Electrek’s Take

We’ve talked a lot about the lack of new farmers in America, but the problem is global – especially as western companies, and western ideas about consumerism, continue to spread. Products like this electric tractor from VW will make farming cleaner, quieter, and (hopefully) more attractive to young workers.

SOURCE | IMAGES: VW Group Africa.

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Environment

Honda deploys Peterbilt 579EV electric semi out of Alabama plant

Published

5 hours ago

November 19, 2024

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Honda deploys Peterbilt 579EV electric semi out of Alabama plant

Honda Alabama plant launches pilot program aimed at electrifying transportation of cars

A new, all electric Peterbilt 579EV is in-service at Honda’s Lincoln, Alabama assembly plant, where it’s busy transporting newly-built Honda cars from the plant to a nearby railhead for shipment to dealers across the country.

Part of a pilot program between Honda, Alabama Power, and Virginia Transportation Corp., the new electric semi truck will help stakeholders gather data about the practicality and performance of the battery-powered Pete and use it to generate case studies for broader electrification initiatives. Other supporters of the pilot project include the Alabama Clean Fuels Coalition and, of course, Peterbilt.

“We remain committed to delivering for our customers and the environment,” offered Leo Doire, owner and CEO of Virginia Transportation Corp. “Our new Peterbilt 579EV model will be tested to determine how well it performs against the high productivity demands of our operations. The partners we have at the table will help us maximize this opportunity and prepare to scale up if we get the results we are hoping for.”

The truck itself has been spec’ed to be perfect for the kind of short haul and drayage applications Honda has in mind. This particular Peterbilt 579EV is fitted with PACCAR’s 400 kWh battery and a 670 hp electric motor good for an impressive 2,050 lb-ft of peak torque at 0 rpm.

The truck offers 150 miles of operating range and can be charged in about 3 hours on a 120 kW charger installed specifically for that purpose. A charger, it should be noted, that was partially paid for by Alabama Power.

“Alabama Power’s ‘Make Ready’ program provides businesses with valuable rebates to help reduce the upfront costs of installing EV infrastructure,” says Alabama Power Electric Transportation Manager Hasin Gandhakwala. “We are committed to partnering with customers who are exploring state and federal grant opportunities. Alabama Power is dedicated to advancing EV technologies to better serve the needs of our customers.”

The electric semi is a continuation of a decarbonization project Honda initiated in 2011, when the company recruited Virginia Transport Corp. to help find ways to reduce emissions at its Alabama facilities. VTC’s efforts have led to changes that displaced more than 475,000 gallons of diesel in 2023 alone.

Electrek’s Take

Peterbilt 579EV at Alabama Honda plant; via Alabama Power.

With the big Pete’s 82,000 lb. GVWR and 150 miles of range between charging sessions, it seems like these guys will be making a lot of back-and-forth runs between the Honda plant and the CSX terminal to me. Here’s hoping they see the benefits of electrifying the rest of their vehicle transport fleets somewhat sooner than later.

SOURCE | IMAGES: Alabama Power.

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Environment

Solar and storage projects make headlines, but will they survive? (Interview)

Published

6 hours ago

November 19, 2024

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Solar and storage projects make headlines, but will they survive? (Interview)

On today’s episode of Quick Charge, we’ve got big solar breaking ground all over, despite the incoming administration’s supposed lack of love for home-grown clean energy. Our guests today walk us through home solar, energy storage, and more.

Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations sitewide. Learn more by clicking here.

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