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Market
Market position of Climeworks in carbon capture by end of 2025
4
Resolution / Starting Odds
Top performer • 25%
Among top 5 • 25%
Among top 10 • 25%
Below top 10 • 25%
Market analysis reports, industry rankings, and expert commentary in environmental technology sectors
Story
Climeworks Opens World's Largest Carbon Capture Plant in Iceland, Targets 36,000 Tons Annually
May 8, 2024, 07:30 PM
Climeworks has launched the world's largest direct air capture facility named 'Mammoth' in Hellisheiði, Iceland. The plant aims to extract 36,000 tons of CO2 from the atmosphere annually and has a theoretical maximum capacity of 1 million tons of CO2 per year. Critics argue about the high costs associated with the technology, noting that it costs $1,000 per ton to remove CO2 at this facility, compared to other methods like those offered by Terrapass for $6.25 per ton. Despite skepticism regarding its practicality and cost-effectiveness, Climeworks CEO Christoph Gebald stated that the challenge of carbon removal can't be met by a single solution but requires scaling promising technologies.
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Similar markets
Yes • 50%
No • 50%
Climeworks • 33%
Carbon Engineering • 33%
Other companies • 34%
Under 500,000 tons • 25%
500,000 to 1 million tons • 25%
1 million to 1.5 million tons • 25%
Over 1.5 million tons • 25%
No expansion • 25%
One new plant announced • 25%
Two new plants announced • 25%
Three or more new plants announced • 25%
Increase in funding • 33%
Funding remains stable • 33%
Decrease in funding • 34%
Less than 5% • 25%
5% - 10% • 25%
10% - 20% • 25%
More than 20% • 25%
Significantly more positive • 25%
Somewhat more positive • 25%
Neutral or no change • 25%
Negative or more critical • 25%
High adoption (Above 30%) • 33%
Moderate adoption (15-30%) • 33%
Low adoption (Below 15%) • 34%