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

🗞️ Driving the news: Climeworks has announced its new Generation 3 direct air capture (DAC) technology, which doubles CO2 capture per module and halves energy consumption and costs
• This technology will be first implemented in a new facility in Louisiana, slated to begin construction in 2026

🔭 The context: Climeworks' previous DAC technologies include the Orca and Mammoth plants, with the latter capturing up to 36,000 tons of CO2 annually
• The advancements in Generation 3 tech come amidst increased investments from corporations looking to offset emissions, supported by favorable policies like the Bipartisan Infrastructure Law and Inflation Reduction Act

🌍 Why it matters for the planet: Enhanced DAC technology is crucial for scaling carbon capture efforts to meet climate goals
• By making carbon capture more efficient and cost-effective, Climeworks' innovations could significantly impact global CO2 reduction strategies

⏭️ What's next: Climeworks plans to leverage $1.2 billion from the DOE’s Regional Direct Air Capture Hubs program to develop the new DAC facilities
• Further policy support and clear certifications for the carbon market are essential to sustain and grow these efforts

💬 One quote: "Advancement in DAC technology has become a primary focus for corporate and other large investors in [carbon dioxide removal]," according to CarbonBrief’s 2024 report

📈 One stat: The Mammoth plant captures up to 36,000 tons of CO2 annually, a significant increase from Orca's 4,000 tons

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