Climeworks Named Leading Direct Air Capture (DAC) Vendor
DAC will play a key role in the global push for climate change mitigation
A new report from Guidehouse Insights provides a timely overview of the companies involved in direct air capture (DAC) and their strategy and execution in creating and marketing end-to-end solutions.
DAC projects currently account for about 5% of the carbon capture utilization and sequestration projects in operation, but the projects are very small scale, representing less than 0.02% of total installed global CO2 capture capacity. One reason most DAC projects are so small is that the technology is relatively immature and still undergoing testing and optimization. According to a Leaderboard report from Guidehouse Insights, Climeworks is the leading direct air capture vendor.
“Carbon removal technologies such as DAC will play a key role in the global push for climate change mitigation,” says Peter Marrin, senior research analyst with Guidehouse Insights. “By sucking CO2 directly from the air, DAC can be a negative emissions technology when run on renewable electricity and coupled with permanent CO2 storage. Alternatively, the captured CO2 can be used to reduce emissions from other sectors, such as by making cement or carbon-neutral synthetic fuels.”
By 2015, only four DAC companies were operating around the world. Over the last five years, however, a flood of second-generation companies has entered the space with new and innovative technologies and approaches. Another impediment to DAC uptake is its high costs. While some DAC companies aim to cut expenses by planning large-scale projects to leverage economies of scale, others are taking a modular approach, preferring to deploy additional units as necessary in order to minimize initial upfront costs for a project, according to the report.
The report, Guidehouse Insights Leaderboard: Direct Air Capture Companies, examines the DAC offerings from 13 leading companies and measures them against one another to determine which are providing the most useful DAC solutions. An executive summary of the report is available for free download on the Guidehouse Insights website.
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*The information contained in this press release concerning the report, Guidehouse Insights Leaderboard: Direct Air Capture Companies, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.