Climate tech firm to launch scaled-up plant sucking CO2 from air in Iceland.

June 30, 2022

One of the world’s biggest plant to capture carbon dioxide from the air and deposit it underground, would be set up in
According to Swiss start-up Climeworks AG, its second large-scale direct air capture (DAC) plant will be built in Iceland in 18-24 months, and have capacity to suck 36,000 tonnes of CO2 per year from the air.
The new “Mammoth” plant will contain around 80 large blocks of fans and filters that suck in air and extract its CO2, which Icelandic carbon storage firm Carbfix then mixes with water and injects underground where a chemical reaction turns it to rock. The process will be powered by a nearby geothermal energy plant.
According to Co-CEO Christoph Gebald once this plant launches, Climeworks intends to build a far bigger facility capturing roughly half a million tonnes of CO2 per year — and then replicate multiple plants of that size, backed by project financing, towards the end of the decade.
Mammoth was part-financed by a 600 million Swiss Franc ($627 million) financing round Climeworks announced in April. The firm also sells among the world’s most expensive carbon removal credit — costing up to 1,000 euros per tonne — to buyers including Microsoft, Audi and Boston Consulting Group.