The article discusses the plans of two companies, Equatic and Climeworks, to scale up their carbon removal operations by 2024. Equatic, a startup based in the UK, aims to capture carbon dioxide from the air and store it permanently in the ocean. They plan to use offshore platforms to extract CO2 from seawater and inject it into deep geological formations under the seabed. Climeworks, a Swiss company, has a similar approach but focuses on capturing CO2 from the air on land and storing it underground. Both companies have ambitious goals to remove millions of tons of CO2 from the atmosphere annually by 2024. The article highlights the growing demand for carbon removal solutions as governments and businesses seek to meet their net-zero emissions targets. However, the high costs and technological challenges associated with carbon removal remain significant hurdles for these companies to overcome.
Source: https://www.businessinsider.com/equatic-climeworks-transform-business-carbon-removal-2024-12