CO2 capture and use: a path to decarbonization
CO2 capture and use: a path to decarbonization
CO2 capture and use: a path to decarbonization
The capture and processing of CO2 for subsequent use in various industrial and agricultural applications is a widely proven and operational technique that has been in use for years, especially in large chemical and petrochemical industries. This technique is considered one of the necessary actions aimed at reducing the carbon footprint through the capture of CO2 using technological devices for the generation, recovery, and purification of high-quality CO2.
Without going any further, a recent report, CCUS Market Perspectives 2022, indicates that global carbon capture capacity in 2030 will increase sixfold from the current level, reaching 279 million tons of CO2 captured per year. This significant market growth has led to a 44% increase in expected capacity for 2030 compared to last year's outlook.
Until now, most of the captured CO2 has been used in enhanced oil recovery operations. However, the destination of captured CO2 must gradually change to achieve the 2030 goal of underground CO2 storage surpassing oil recovery as the main destination for CO2.
This entire effort is being driven by legislation that incentivizes storage over the use of CO2, as well as by projects that aim to use this technique as a pathway to decarbonization.
Against this backdrop, Edison Next is working to offer companies the full set of technologies that enable the reduction of the carbon footprint and the decarbonization of processes. Among them, CO2 capture is intended to be one of the leading techniques in the global energy transition.
To this end, it is betting on new technological and innovative development pathways that allow progress in the energy transition in a sustainable manner for both the capture and use of CO2. Likewise, the company is focusing on other climate solutions to achieve the goal of net-zero emissions by 2050, such as emission offsets through reforestation.
These are the various commitments Edison Next is working on with the main objective of helping its clients improve their energy efficiency, reducing the use of fossil fuels, and accompanying them on the path towards energy sustainability and profitability.