BCBN:CC - Global Carbon Capture Project Pipeline Grew by 44% Last Year
According to the Global Carbon Capture and Sequestration Institute think-tank, the pipeline for projects that capture and store carbon emissions has expanded by 44% in the last year to 244 million tonnes per year. Carbon capture and storage (CCS) technology has been used for years to boost oil well production rates, but rising carbon pricing in countries such as Europe has raised hopes that it is likely to become a stand-alone business case in the future. According to some analysts, CCS technology, which acts as a filter on industrial smokestacks and stores carbon underground, is critical to achieving a net carbon-zero economy by 2050. The world would need 7.6 billion tonnes of CCS capacity per year to achieve this objective. Base Carbon Inc. ( NEO:BCBN ) ( OTCQX:BCBNF ), FuelCell Energy, Inc. ( Nasdaq:FCEL ), Occidental Petroleum Corporation ( NYSE:OXY ), Equinor ASA ( NYSE:EQNR ), and Schlumberger Limited ( NYSE:SLB ) are joining the global effort towards zero-net emissions by developing carbon reduction and capture projects.
Base Carbon Inc. ( N...
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