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Market
Expansion of Mammoth technology by Climeworks by end of 2024
5
Resolution / Starting Odds
No expansion • 25%
One new plant announced • 25%
Two new plants announced • 25%
Three or more new plants announced • 25%
Press releases from Climeworks, environmental technology trade publications
Story
Mammoth, World's Largest CO2 Capture Plant, Opens in Iceland, Targets 36,000 Tons Annually
May 8, 2024, 04:30 PM
Climeworks has inaugurated the world's largest direct air capture facility, named Mammoth, located in Hellisheiði, Iceland. This plant, dubbed Mammoth, is designed to remove 36,000 tons of carbon dioxide from the atmosphere annually. The facility has been described as a significant step in tackling climate change by extracting CO2 directly from the air. However, there are criticisms regarding the cost-effectiveness and practicality of the technology. Critics point out that the cost per ton of CO2 removed at Mammoth is significantly higher compared to other carbon offset methods, with estimates around $1,000 per ton for the Climeworks facility, compared to $6.25 per ton offered by other services.
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Similar markets
Yes • 50%
No • 50%
Below 20,000 tons • 25%
20,000 to 35,999 tons • 25%
36,000 to 50,000 tons • 25%
Above 50,000 tons • 25%
Increased • 50%
Decreased • 50%
Expands to 1-3 additional watersheds • 34%
Expands to 4-6 additional watersheds • 33%
Does not expand • 33%
Top performer • 25%
Among top 5 • 25%
Among top 10 • 25%
Below top 10 • 25%
Expansion halted • 25%
Expansion slowed • 25%
Expansion proceeded as planned • 25%
Expansion accelerated • 25%
More than 10 countries • 33%
5-10 countries • 33%
Less than 5 countries • 34%