Tech giants back Australia’s first solar-powered carbon capture project | angus_dalton
A solar-powered carbon dioxide-trapping device about the size of a two-man tent has secured a $700,000 deal from the world’s tech giants to draw 500 tonnes of carbon from the atmosphere by 2027.
Stripe’s Frontier project brought together Meta, Alphabet , Shopify and McKinsey & Company to create a US$925 million fund for backing carbon removal technology. Solar panels inbuilt into the machines power both stages of the carbon capture. Fans draw air into the modules, which strip out C02. Once the sponges are saturated, they’re heated, which releases the C02. AspiraDAC would then compress the gas and pump it deep underground at a suitable site, such as a drained oil reservoir.
Climeworks’ Orca direct air capture project in Iceland can capture 4000 tonnes of carbon dioxide per year.Direct air capture differs from point source capture, which refers to projects that catch emissions directly from a carbon-emitting project such as a coal-fired power plant.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Climate tech gets $100m shot in the armQantas Super has joined the government’s Clean Energy Finance Corporation in an investment fund aimed at companies helping to reduce carbon emissions.
Read more »
Veteran VC’s warning for start-ups amid tech sell-offBill Ferris says venture capital funds will need to rethink how they revalue portfolio companies, tipping more down rounds than up rounds.
Read more »
Magnium Australia raises $3.24m for CSIRO-developed techMagnesium processing start-up Magnium Australia has landed $3.24 million to prove out its CSIRO-developed manufacturing technology.
Read more »
Tech downturn no barrier to Archangel’s new seed fundThe tech downturn didn’t stop Archangel raising the first $20 million for its seed-stage venture capital fund in just three weeks.
Read more »
Lettuce seeds, refurbished tech boom at eBay as shoppers bargain huntDocuments filed with the corporate regulator show the e-commerce platform saw a strong profit jump in 2021 as Australians shopped from home.
Read more »