What's the true cost of excess CO2 in Earth's atmosphere? A new working paper is placing it at over $1,000 per ton -- or a 12% loss in global GDP for every 1 degree Celsius of temperature rise. Why does this matter? Because it provides an important data point to understand efforts to remove carbon from the atmosphere. Currently, multiple technology pathways are already removing CO2 for at or less than this $1,000 per ton social cost of carbon. And technologies like Heirloom's have a clear line of sight to driving down the cost of removals to $100 per ton -- or 10x less the cost of continuing to let climate change run unabated. Check out the full paper 👇 https://lnkd.in/eg7eDv_4
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You can spot Heirloom in the latest GatesNotes covering the Breakthrough Energy Conference in London! From the West Coast to the Gulf Coast and beyond, we'll continue translating the Clean Industrial Revolution into good jobs, community benefits, and meaningful progress to protect people and the planet. https://lnkd.in/gUDdHQvz
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Learn how our two new 'carbon clean-up' facilities are leveraging workforce skills that have been honed in Louisiana for decades to scale a new critical climate technology - courtesy of Bloomberg! https://lnkd.in/gGTEqVNj
The Carbon Cleanup Industry Is Growing in Louisiana
bloomberg.com
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We’re excited to announce that we’re bringing 320,000 tons of yearly CO2 removal capacity to Northwest Louisiana with two new DAC facilities! Located at the Port of Caddo-Bossier near Shreveport, the first 17,000 ton facility will come online in 2026. A separate facility will be built in the same location, with 100,000 tons of capacity to come online in 2027, and an additional 200,000 tons of capacity to come in subsequent years. This larger facility is Heirloom’s portion of Project Cypress, part of the U.S. Department of Energy (DOE) supported DAC Hub program. Here’s why this matters: 🏗️ Scaling Heirloom’s DAC solution: This is a major scale up from the 1,000 ton facility that we opened late last year as America’s first commercial DAC facility. 👷 Growing a new energy economy: Combined, these two DAC facilities will create over 1,000 jobs in Northwest Louisiana, helping to advance a new energy economy in the state and further establish America as a DAC leader. 💰 Expanding the economic impact of Project Cypress: With Heirloom’s Project Cypress facility in Northwest Louisiana and Climeworks' Project Cypress facility in Southwest Louisiana, we’re expanding statewide the economic impact and job creation potential of this DOE program. 🌎 Leveraging public investments to expand DAC: We’re leveraging the workforce and infrastructure investments that are making Project Cypress happen to add CO2 removal capacity with a privately-funded 17,000 ton DAC facility. This shows how government support can spur private investment in the CDR space and service more customer demand for high quality carbon removals. You can read more here: https://lnkd.in/gN5gqdrA #DAC #CDR #CarbonRemoval #CO2 #Louisiana #Shreveport #ProjectCypress
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On the heels of the hottest 12 months in recorded history, United Nations Secretary-General António Guterres made clear that it's crunch time for climate action and carbon removal: "We need high integrity carbon markets that are credible and with rules consistent with limiting warming to 1.5 degrees. I also encourage scientists and engineers to focus urgently on carbon dioxide removal and storage – to deal safely and sustainably with final emissions from the heavy industries hardest to clean. And I urge governments to support them. But let me be clear: These technologies are not a silver bullet; they cannot be a substitute for drastic emissions cuts or an excuse to delay fossil fuel phase-out. But we need to act on every front." We couldn't agree more. Responsible removal, alongside steep reductions, keeps our global climate goals within reach. We'll keep working with the urgency demanded by the UNSG to scale a low-cost carbon removal solution! https://lnkd.in/gCX7JCZc
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We're excited to announce that Heirloom has been selected to join the World Economic Forum's Technology Pioneers 2024 Cohort! You can read more about this year’s cohort and cutting-edge tech start ups here as we work together to help shape WEF's global initiatives: wef.ch/techpioneers24
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Big news today from the White House: U.S. Department of the Treasury is setting a new bar of quality in the voluntary carbon market (https://lnkd.in/e2w2U4-y) and the U.S. Department of Energy (DOE) has announced its first step toward the USA’s pioneering purchase of carbon removal, with Heirloom among the first potential suppliers! (https://lnkd.in/ePXXMVGQ) These twin actions set the pace for advancing public and private markets for real and responsibly-deployed carbon removal. Reflected in this leadership from the Biden Administration are many of Heirloom’s own high-road CDR principles, released last year: https://lnkd.in/gBNzmncD
Carbon Dioxide Removal Purchase Pilot Prize Phase 1 Semifinalists
energy.gov
Mechanical Engineer | Committed to combating climate change, I drive engineering solutions in renewable energy and environmental technologies to optimize efficiency, reduce emissions, and champion a sustainable future
1moThanks for sharing this insightful perspective on the true cost of excess CO2, and the urgency it brings to addressing climate change, Heirloom! 💡 It's eye-opening to see how the economic impacts of carbon emissions translate into tangible figures, highlighting the need for effective solutions. The fact that multiple technology pathways are already removing CO2 at or below the social cost of carbon is incredibly promising. It underscores the feasibility of combating climate change through innovation and collaboration across industries. What potential challenges may arise in driving down the cost of carbon removal to $100 per ton, and how can the industry overcome them? #ClimateChangeEconomics #CarbonRemoval #SustainableFuture