A new partnership that is targeting to permanently remove five million tons of atmospheric carbon dioxide annually by 2030 has been announced.
Dubbed Project Bison, it will deploy CarbonCapture’s direct air capture (DAC) system with Frontier Carbon Solutions’ CO2 transportation and storage infrastructure in Wyoming.
Developed over multiple phases through 2030, the project – scheduled to be operational by late 2023 – is expected to help meet the “rapidly growing demand” for carbon removal credits.
Adrian Corless, CEO and CTO, CarbonCapture Inc said: “With the passage of the Inflation Reduction Act, the proliferation of companies seeking high-quality carbon removal credits and a disruptive low cost technology, we now have the ingredients needed to scale DAC to megaton levels by the end of this decade.
“We plan to have our first DAC modules fielded by the end of next year and to continue installing capacity as quickly as modules come off our production line. Our goal is to leverage economies of scale to offer the lowest priced DAC-based carbon removal credits in the market.”
Wyoming was selected as the project’s location due to the broad availability of renewable and zero carbon energy sources as well as the favourable regulatory and operating environment for carbon storage.
Mark Gordon, Governor of Wyoming added: “The state of Wyoming is proud to be selected as the first location for megaton-scale direct air capture and to continue our leadership in the storage of CO2.
“We have the perfect CO2 storage geology and a broad-based energy strategy that includes CO2 sequestration hubs.”