illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: Equatic, a startup spun out of UCLA, is set to build a $100 million plant in Quebec by 2026 to remove over 100,000 tons of CO2 from the atmosphere annually
• The project, in partnership with Deep Sky, will also produce 3,600 tons of green hydrogen

🔭 The context: Equatic utilizes an electrochemical process to extract CO2 from seawater, generating hydrogen and calcium carbonate
• This method is less energy-intensive compared to traditional air-based CO2 removal technologies

🌍 Why it matters for the planet: Large-scale carbon removal is critical to mitigating climate change
• Equatic’s approach, combining CO2 capture with green hydrogen production, provides a dual benefit of reducing greenhouse gases and supporting renewable energy

⏭️ What's next: Engineering for the Quebec plant starts immediately, aiming for operation by late 2026
• Equatic is also expanding with a demonstration plant in Singapore and future projects in the U.S

💬 One quote: “The plant will allow us to get to below $100 per ton (of CO2 removal) by 2030,” said Equatic COO Edward Sanders

📈 One stat: Equatic is currently selling carbon removal credits at about $500 per ton, with a future goal of reducing costs to $200 per ton

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