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Carbontech: The Economic Potential of Carbontech

This document summarizes carbontech and policies supporting it. Carbontech refers to commercial products made from captured CO2 emissions, with an estimated $1 trillion market in the US alone. Major policies include the FUTURE Act expanding tax credits for carbon storage and bills providing funding for direct air capture R&D. There are currently over 182 carbontech projects globally, and the US leads in their number. Examples include fuel from captured emissions powering a Virgin Atlantic flight and CO2 from direct air capture being used in beverages.

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Ryo Okumura
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81 views

Carbontech: The Economic Potential of Carbontech

This document summarizes carbontech and policies supporting it. Carbontech refers to commercial products made from captured CO2 emissions, with an estimated $1 trillion market in the US alone. Major policies include the FUTURE Act expanding tax credits for carbon storage and bills providing funding for direct air capture R&D. There are currently over 182 carbontech projects globally, and the US leads in their number. Examples include fuel from captured emissions powering a Virgin Atlantic flight and CO2 from direct air capture being used in beverages.

Uploaded by

Ryo Okumura
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Carbontech MAJOR ENAC TED POLICIES

FUTURE ACT: Expands and


enhances the “45Q” tax credit
to provide a $35 dollar credit
Carbontech refers to the wide variety of commercial for every ton of carbon dioxide
stored in carbontech products
products made with the CO2 emissions captured from
power plants, biomass, or direct air capture. There is an
estimated $1 trillion available market in the U.S. alone MAJOR BILLS IN CONGRESS

for carbontech goods, including everything from fuels


USE IT Act: Provides funding for
and plastics to building materials and other industrial
a direct air capture technology
products. prize and establishes a R&D
program for carbontech at the
CARBON CONVERSION PRODUCTS & Environmental Protection Agency
WASTES TECHNOLOGIES SERVICES

CO2 Electrochemical Fuels Office of Fossil Energy Research


& Development Act/EFFECT
Biomass Photochemical Building Materials Act: Updates the Department
of Energy’s work on carbon
Manure Thermochemical Plastics management technologies like
carbon capture and expands
Garbage Bio-catalyzed Chemicals their focus on carbontech

Photosynthetic
SEA FUEL Act: Establishes a
direct air capture and ocean
carbon removal program at the

The economic potential of carbontech Department of Defense that


focuses on turning captured
The economic opportunity for carbontech goods is enormous – $1 trillion carbon from the ocean into fuels

in the U.S. alone. Globally, that number rises to $6 trillion. Carbontech


encompasses a diverse set of goods and services, including global OTHER RELEVANT BILLS
commodities like fuel, plastics, and building materials as well as valuable
niche applications like cosmetics, food, beverages, and emerging • The Carbon Utilization Act
technologies like carbon nanotubes. of 2018

• The Fossil Energy Utilization,


Enhancement, and
Total Available Market (TAM) Leadership Act of 2018

• The Advancing CCUS


TRANSPORTATION FUELS $882B Technology Act
Gasoline, Diesel, Jet

BUILT ENVIRONMENT $101B


2017 TAM Cement, Concrete, Asphalt, Aggregate

$1,070,000 PLASTICS $72B


Polyethylene, Polypropylene

WOOD-BASED PANELS $13B


Plywood, Particleboard, OSB

CHEMICALS $2B
Fertilizer, Feed

Carbontech Fact Sheet / 1


Carbontech is a win-win for
business and climate.
FURTHER READING

“Carbontech: A trillion dollar


opportunity,” Matt Lucas,
Carbon180

++ Provides a market-based incentive to repurpose carbon emissions “CO2 Utilization: A Look Ahead,”
Center for Climate and Energy
++ Displaces fossil fuels and high-emissions products like cement and Solutions
steel
“Climate Change Solutions
++ Drives down the cost of carbon removal and encourages further Slowly Gain Ground,”
Washington Post
research & development of carbon removal technology

REFERENCES
The industry today
On carbontech-related policies:
There are at least 182 ongoing carbontech projects in at least 14
different countries, including the U.S., Canada, Germany, China, and “Policy Tracker,” Carbon180

India. The U.S. is home to more projects than any other single country.

→→ Virgin Atlantic and LanzaTech flew a 747 jet from Orlando, Florida On the current market
to London, England using jet fuel derived from factory CO2 opportunity for carbontech:

emissions. A Review of Global and U.S.


Total Available Markets for
→→ Climeworks has partnered with Coca-Cola to provide CO2 from
Carbontech, a Carbon180 report
their Swiss direct air capture plant for carbonated beverages.

→→ CarbonCure has supplied over 3 million cubic yards of concrete


On the current industry of
made from carbon waste to construction projects all over the U.S.
carbontech startups:
and Canada.
“Carbon Capture Projects Map,”
Third Way

“Richard Branson’s Virgin


Atlantic set to fly a 747 jet
with fuel made from factory
pollution,” CNBC

www.carboncure.com

www.climeworks.com

Photo: Jordan Sanchez (left), Ravi Sharma (right)

Learn more
Carbontech Fact Sheet / 2 at carbon180.org.

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