- Climeworks has been awarded 2.2m CHF (26m NOK) in Norwegian funding from Enova, the state enterprise owned by the Norwegian government’s Ministry of Weather and Surroundings.
- Funding will go in direction of a feasibility study for a multi-kiloton-capacity direct air capture & storage (DAC+S) plant in Norway.
- Norway’s renewable electricity, coupled with its vast availability and prospective for geological CO₂ storage make it an excellent spot for significant-scale DAC+S deployment.
- Together with Orca and Mammoth in Iceland, a DAC+S plant in Norway would set up the Nordics as planet-foremost accelerators of carbon removing as a weather answer.
Climeworks, the world-wide chief in carbon dioxide removing (CDR) through DAC+S know-how, has been awarded 2.2m CHF (26m NOK) in funding from Enova, at 50 per cent funding depth, in the framework of Enova’s “Preliminary Study Carbon Seize 2030”. Enova aims to assistance firms that want to capture huge quantities of CO₂ to get closer to an investment choice for capture crops, with the target of procedure by 2030. Climeworks is just one of 9 assignments awarded, whose merged focused capture potential totals 1.7m tons of CO₂ per year. This corresponds to virtually 50 percent of all emissions from passenger vehicles in Norway.
Nils Kristian Nakstad, CEO of Enova
“We are happy to be able to aid Climeworks’ get the job done in the growth of industrial carbon elimination jobs. This technology will participate in a decisive role in the changeover to a small-emission society, and this project is an crucial phase in the appropriate path.“
Andreas Aepli, Main Economical Officer at Climeworks
“We are thrilled and honored to have been awarded funding from Enova for a feasibility review in Norway for our job Norse Pine. This will undoubtedly speed up immediate air seize as a climate answer, the two in the Nordics and globally – a thing we are actually grateful to Enova for enabling.“
Excellent situations for substantial-scale DAC+S
A cleanse vitality supply and harmless, lasting storage possibilities are what Climeworks calls for for huge-scale CDR by way of DAC technological know-how and Norway features the great problems for the two. Norway has substantial availability of renewable electrical power, with 98% of electric power created from renewable sources, this sort of as hydro. With regard to storage, Norway is a global chief in the progress and availability of geological CO₂ storage. Coupled with this, the storage possible is huge quite a few gigatons of CO₂ could be stored in the Norwegian Continental Shelf.
This next action in Norway is a continuation of the two Climeworks’ world scale-up journey and its dedication to leading the global roll-out of DAC+S with the utmost integrity. This funding for a feasibility analyze in Norway marks the very first step in validating the country’s possible for scalable and higher-quality DAC+S deployment that could position Norway as just one of the Nordic pioneers in the world wide carbon elimination attempts very important to preventing local climate adjust.
Relevance of DAC in Norwegian local weather approach
The Norwegian govt has extensive been investigating how it can finest assistance industrial carbon removal in its journey to multi-megaton scale and contribute to the country’s national local weather targets. This devoted funding allocation for DAC is an essential signal from Enova and the Norwegian governing administration on the great importance of DAC in the Norwegian local weather strategy and its contribution to the industrial shift in the direction of a thriving eco-friendly industry.
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Parallel to this funding allocation, an exterior investigation commissioned by the Norwegian Setting Agency has assessed various economic help mechanisms (such as reverse auctions, reverse tax credits, public procurement, and immediate investments). Climeworks welcomes this vital political momentum on the weather and industrial option of massive-scale CDR in Norway. Community coverage is significant to enabling the drastic scale-up of CDR alternatives that the earth wants.
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