Photo: Orca: Climeworks’ new large-scale carbon dioxide removal plant in Iceland
The 45Q corporate tax credit for carbon removal projects was extended at the end of 2020. The industry has the potential to create at least 300,000 U.S. jobs. Numerous companies and wealthy individuals are supporting DAC including Bill Gates, Elon Musk, Exxon, Amazon and Microsoft. 1.2 to 1.9 percent of GDP in DAC innovation and deployments could stimulate the removal of 2.2 to 2.3 gigatons of CO2 per year. DAC alone won’t solve the climate crisis, but it could certainly help.
www.greenbiz.com/article/potential-carbon-capture-tech-captivating