More attention and support for the DAC is coming from both the public and private sectors. Volunteer Marketplace for DAC Based2 The removal has expanded, with companies like Microsoft, Stripe, Shopify and Swiss Re buying DAC removal in the future to offset their CO22 emissions.
Some of these agreements are hybrid, where the offset buying company effectively subsidizes a capital investment to build a DAC plant that will eventually capture CO22 From the air. For example, United Airlines is investing directly in DAC in line with its commitment to become carbon neutral by 2050, while Microsoft is buying DAC decarbonization from Climeworks and, through its Climate Innovation Fund, also investing in Orca, the largest decarbonizing DAC operator.
On a smaller scale, some DAC companies currently offer commercial offset services to individuals and companies willing to pay a recurring subscription to obtain CO22 Removed from the atmosphere and stored underground on their behalf. Subscription price (depending on the amount of removal purchased) varies from $600 per ton2 To 1000 US dollars per ton of carbon dioxide2.
More support for the DAC has come from programs such as X-Prize (making up to $100 million for up to four promising decarbonization proposals, including DAC) and Breakthrough Energy’s Catalyst (which raises money from philanthropists, governments and companies to invest in critical decarbonization techniques, including DAC). And the private investment rounds have also succeeded: In 2020, Climeworks raised the largest investment in a DAC ever, at $110 million.
Increased public funding is also available for DAC deployment. In the United States, the Department of Energy announced special funding for DAC in March 2020 (US$22 million) and March 2021 (US$24 million). Furthermore, approximately $9 billion in CCUS support is included in the $1 trillion U.S. Infrastructure Investment and Jobs Act passed by the Senate in August 2021. This includes funding for the establishment of four DACs. There are a number of proposals to increase the value of the 45Q tax credit, including in the 2022 budget proposal that would save $85 per ton of CO22 Captured and stored from some industrial applications and $120 per ton for direct air capture with storage. In the UK, the government announced £100 million (about US$123 million) funding in June 2020 to remove carbon dioxide.
The improved investment environment has led to the announcement of several new DAC projects in 2021, including the Storegga Dreamcatcher Project (UK; with a view to decarbonization) and HIF Haru Oni eFuels Pilot Plant (Chile; production of hydrogen-based synthetic fuels and air). Electrolysis.-The Captured Company2 from DAC technology from Global Thermostat). Synthetic fuels (up to 3 million liters) will also be produced by Norsk e-Fuel AS in Norway by 2024, including carbon dioxide.2 Captured from DAC.