Wednesday, December 15, 2021

The largest in the world carbon capture plant is build in Iceland

 The largest in the world “direct air capture” (DAC) plant will allow to capture and remove annually from the atmosphere the amount of carbon dioxide equivalent to emissions produced by 870 cars. CO2 is filtered out, mixed with water, and pumped into deep underground wells, where over the course of a few years it turns to stone. The plant was opened in September 2021 in Iceland, and it is operated by the Swiss engineering startup Climeworks.

The reinsurance giant  already signed a $10 million contract with Climeworks to buy carbon offset credits to reduce its own carbon footprint. The price per ton of carbon credits was not publicly disclosed.