Startups are finding novel ways to recycle carbon

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

🗞️ Driving the news: Startups are pioneering innovative methods to recycle carbon, transforming CO2 into valuable products
• Bill Gates recently spotlighted Modern Hydrogen, a company using methane to create hydrogen fuel and solid carbon, which is being used in asphalt production
• Other firms, like CarbonFree and LanzaTech, are also leading in turning industrial emissions into profitable materials

🔭 The context: Carbon capture, utilisation, and storage (CCUS) is a critical yet underexplored area in climate technology
• While many focus on storing captured CO2, these startups are leveraging it for commercial uses, such as sustainable fuels and building materials
• The International Energy Agency (IEA) and other experts anticipate significant growth in these markets as technology advances and costs decline

🌍 Why it matters for the planet: By converting CO2 into useful products, these technologies could play a vital role in reducing global emissions and promoting a circular carbon economy
• This approach not only addresses the carbon problem but also reduces reliance on fossil-based materials

⏭️ What's next: As the cost of carbon capture continues to fall, the market for carbon-utilisation products is expected to expand, potentially reaching up to $50 billion by 2040
• This growth could lead to a substantial increase in the use of CO2 for industrial applications, contributing to global decarbonisation efforts

💬 One quote: "Replacing 'fossil carbon' in supply chains is 'a $1trn addressable market,'" says Jennifer Holmgren, CEO of LanzaTech

📈 One stat: The current global pipeline for carbon utilisation could capture nearly 15 megatonnes of CO2 by 2030, a small but growing fraction of global emissions

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