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Carbon capture progress is sparking industry excitement.

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TLDR:

  • GlobalData predicts a significant rise in active CCUS projects by the end of the decade.
  • New policy initiatives and technology advancements are driving progress in the CCUS industry.

In recent years, the CCUS industry has gained attention, both positive and negative, with critics labeling it as greenwashing while proponents argue its importance in achieving a net-zero future. GlobalData forecasts a substantial increase in active CCUS projects by the end of the decade, with the capacity growth expected to rise significantly. policy changes and technology advancements are driving progress in the sector.

The global push for CCUS technology has been evident with policy changes and legislative initiatives worldwide. The US, for instance, formed task forces to streamline permitting processes for CCUS projects, receiving support from the industry. Financial incentives and funding for CCUS development have followed along with regulatory changes, encouraging investment from countries like the UK, Canada, the US, and Japan.

Technology advancements, such as the use of non-aqueous solvents for CO₂ capture and mobile, small-scale modular technologies, are pushing the boundaries of CCUS efficacy. These advancements, along with growing international collaboration on CCUS projects and a shared understanding of the inevitability of the road to net zero, are driving progress in the industry.

While concerns persist around the progress of CCUS technology being too slow to achieve net-zero goals, the ongoing research, development, and policy advancements in the field remain promising. Collaboration and awareness among governments, scientists, and industry experts will play a crucial role in meeting global climate goals through CCUS technology.

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