A considerable amount of capital is making its way towards a new niche soon to potentially become jam-packed with notional money throughout this bull market: Carbon Capture. This innovative technology deals with finding ground-breaking strategies to capture and store naturally-occurring carbon dioxide, or CO2, through its emissions before escaping into the environment and the atmosphere. Experts suggest that the technology is already in our hands, capable of capturing at least 90% of CO2 emissions dispersed through fossil fuel burning that powers life and industries today. However, a problem is still at hand – incentivizing applications of this innovative technology and discovering new tools to improve the job already done nowadays and make it even better.
Best Carbon Capture Companies in Canada
CMC Research Institutes and the Pembina Institute recently reported estimating the carbon capture market worldwide – becoming $800 billion in overall worth by the year 2030. So now, arranged in alphabetical order, here are six (6) of the most promising, clean-tech companies chasing carbon capture in the Canadian market.
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Carbon Engineering
Carbon Engineering is based in Squamish, British Columbia, and focuses on direct-air carbon capture and conversion. One of the notable developed products is carbon-neutral jet fuel. This carbon capture company recently settled a US$68M-worth of an equity financing round. Some of its investors include Bill Gates and Murray Edwards, the founder and executive chairman of Canadian Natural Resources Limited. Their motto is as such: “We believe humanity can solve climate change.” Carbon Engineering contributes to a future that is a “Direct Air Capture technology – more than 11 years in the making – that captures carbon dioxide directly out of the atmosphere.”
TECHNOLOGY
- Direct Air Capture – is a technology that removes carbon dioxide from the air at a megaton-scale.
- Captures CO2 directly out of the air around us, helping counteract today’s unavoidable CO2 emissions, and removing large CO2 quantities emitted in the past that remain trapped in our atmosphere.
- They focus on global deployments of megaton-scale Direct Air Capture technology, significantly impacting vast parts of the climate challenge.
- Their team and partners around the globe work hard in building Direct Air Capture facilities, capturing 1M tons of CO2 yearly – equivalent to the work of 40 million trees.
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CarbonCure Technologies
CarbonCure Technologies is based in Dartmouth, Nova Scotia, and has developed a process that adds CO2 into ready-mix concrete that converts CO2 into a sequestered mineral that is lighter, stronger, and a lower-carbon concrete. More than 100 concrete makers in the U.S., Canada, and Malaysia are using the product.
TECHNOLOGY
- CarbonCure for Ready Mix – “Same Concrete, Less Carbon” – injects CO₂ into a ready mix where it is converted into a mineral, improving its compressive strength. This conversion allows the optimization of mix designs, the safe reduction of cement content, and the lowering of carbon footprints in concretes — not impacting the quality or performance.
- Cement Costs Reduction – producers who use CarbonCure for Ready Mix reduce cement content by 3-6% on average, having no compromise on the concrete’s quality or performance.
- New Revenue Streams Creation generates carbon removal credits for every concrete mix poured, earning revenue through CarbonCure’s verified carbon dioxide removal program.
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CleanO2
A Calgary-based company, CleanO2, is the developer of CARBiNX, a small-scale carbon-capture device for home furnaces. This development captures CO2 in the form of carbonate, helpful in making different products that include hand soaps.
TECHNOLOGY
- CleanO2’s CarbinX™ – are clean capture units that use a chemical process in converting captured CO2 from heating system exhaust, turning it into a stable carbonate used in soaps and detergents.
- It reduces the emission of Greenhouse Gases resulting from the heating industry.
- CleanO2 also creates value through (1) profit sharing with customers, allowing them to have a short-term return on their investment; (2) reduction of energy needed for buildings through heat recovery; and (3) keeping mechanical room operations efficiently – all of this happening while generating income streams towards customers through the sale of the by-product produced by the carbon capture process.
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CO2 Solutions Inc. (OTC:COSLF / TSE:CST-H.V)
Montreal-based CO2 Solutions developed an alternative for the existing liquid amine carbon capture, producing no toxic waste. In partnership with Resolute Forest Products, this company builds a 30-tonne-per-day carbon-capture plant at the company’s pulp mill in Saint-Félicien, with the CO2 to be used in the Toundra Greenhouse complex. With their unique, revolutionary, patented carbon-capture technology, CO2 Solutions Inc. has been overseen by Canadian scientists and engineers and supported by Canada, the United States, and the European Union for the past twenty (20) years.
TECHNOLOGY
- Inspired by the principle of how a human lung functions – this innovative carbon capture process called a “factory lung” is based on an improved and patented industrial form of carbonic anhydrase (CA). This natural enzyme enables respiratory carbon management in all living organisms (humans, animals, plants).
- This technology makes CO2 emissions from stationary installations, like factories, be captured at the source, directly from the chimneys, making more beneficial uses than rejection into nature.
- Industrial lung carbon-capture technology produces CO2 that is +99.95% pure for reuse or conversion – all of this happening while almost eliminating your greenhouse gas emissions.
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Pond Technology (TSE:POND.V)
Pond Technology is based in Markham, Ontario. It has developed a process for taking untreated emissions from sources like power plants, refineries, or cement plants, then using these in growing algae in bioreactors, sequestering carbon, and cleaning up other impurities from the exhaust. The algae are then used to make animal feed, cosmetics, and biofuels.
TECHNOLOGY
Engages in CO2 sale and licensing its abatement technology for partnerships with industrial emitters, project developers, funders, engineering companies, and others.
Pond Biotech – is the growing of genetically modified algae capable of expressing complex proteins used in diagnostics, therapeutics, and medicines.
Pond Naturals – is the engagement in the production, formulation, and creation of custom-blended nutrition products.
Designs and operates scalable bioreactors that use industrial greenhouse gas emissions – specializing in growth systems that cultivate algae and other valuable biomass, with systems effectively closing carbon loops and creating wealth from waste for their partners.
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Svante Inc.
Formerly called ‘Inventys,’ this Burnaby, B.C.-based company developed an adsorption material that draws CO2 from industrial flue gas stacks. In partnership with Husky Energy Inc., they are now building a $15 million demonstration plant in Saskatchewan, with the captured CO2 to enhance oil recovery. Named after Nobel Laureate Svante Arrhenius, their new name signals its “evolution from a technology development company to a commercial enterprise, poised to help its customers transition to a net-zero carbon future.” They are the first scientists to identify the atmospheric carbon-climate change connection; Svante is the first name in commercially viable, economically scalable, second-generation carbon capture technology.
TECHNOLOGY
- CO2MENT Project – a partnership between LafargeHolcim and TOTAL S.A. and is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors.
- From a 1 TPD plant in Richmond, BC, this re-injects captured CO2 into concrete as a storage solution. In comparison, they constructed a 30 TPD demonstration plant this summer at Husky Energy’s Pikes Peak South thermal project in Saskatchewan, Canada.
- Offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be recycled for further industrial use in a closed-loop.
Carbon Capture Reality
With the promising potentials these six (6) companies provide, and with others out there, who knows where your investments in carbon capture companies might end up. Nevertheless, these are some of the best options for expanding your portfolio, gearing towards profit, and eventual success. So, go forth and invest in carbon capture stocks now and see a brighter future from the perspective of something from the past.
Canadian Carbon Industry Companies
Carbon sequestration in the soil removes CO2 from the atmosphere and stores it in carbon pools in the ground. The conversion of natural ecosystems for agricultural use has led to the degradation of SOC levels and 50-100 Gt of carbon from the soil in the atmosphere since the Industrial Revolution (Lal, 2009 ). Water is not limited by increased temperatures and plant productivity, affecting carbon balance (Maracchi et al.) The best Canadian renewable energy stocks have taken this practice to new levels.
Oil and gas companies shared the research that explored ways to capture carbon dioxide (CO2) from production before it is released into the atmosphere, stored and used for other purposes. Aker’s CO2 capture process can be applied to emissions from various sources: gases from cement, refineries, waste energy, hydrogen, and other industrial processes. The ACTL project is a viable carbon capture for improved oil recovery, where pressurized CO2 is injected into oilfields to increase the amount of oil extracted.
The government is committed to advances in clean technologies such as carbon capture, use and storage (CCUS) to build a clean energy future that will reach net zero emissions by 2050. In April, the technology received a boost in the federal budget when Ottawa announced a tax credit for CCUS projects invested in total emissions that would reduce CO2 by 15 megatons a year. However, although many industries and environmental groups support the development of carbon capture technologies, there are concerns that the emissions reductions calculated by carbon capture could discourage industry from any action to reduce emissions.
Canada’s federal carbon tax is set to rise from $30 today to $170 a tonne by 2030, and the new CCUS incentive is based on a 45Q US tax credit that encourages British oil companies to capture carbon. In the United States, companies that capture and use carbon, including those that improve oil production, receive carbon credits of up to $50 per tonne. Alberta also imposes a carbon tax on heavy industrial emitters, but companies earn credits for reducing stored emissions under its system.
Direct Air Capture by Climeworks is one of the few to offer technology that sucks the atmosphere for carbon. Chris Beuttler, head of climate policy in Switzerland, calls the plant a “drop in the ocean, but it’s getting bigger” as new companies like Climeworks and the government seek to expand the technology. This could reach several gigatons on a scale, not only for direct air capture technology but also for combined carbon capture solutions.
The Canadian company Carbon Engineering has been working on direct air measurement since 2015. Yesterday the Norwegian Parliament approved investment in a complete CO2 capture plant in Heidelberg. One of the largest building materials companies globally, cement has a Norcem plant in Brevik in Norway. The Brevik Carbon Capture and Storage (CCS) project captures 400,000 tonnes of CO2 per year for transport and permanent storage, making it the first industrial CCS project on a cement plant in the United States.
Murray Edwards, CEO of Canadian Natural Resources Ltd., is a shareholder in Carbon Engineering Ltd., whose carbon capture technology has attracted investments from tech tycoon Bill Gates and US oil companies Chevron Corp and Occidental Petroleum Ltd. Both companies see a strong future for carbon capture and EOR technologies, as global oil demand continues to remain robust. On March 18th, the most extensive integrated oil producer in Canada, Suncor Energy Inc., announced it had invested in Vancouver-based carbon capture company Svante Inc.
A small group of Canadian companies is at the forefront of emission capture, developing a new type of alchemy that uses captured carbon dioxide to strengthen concrete, produces sustainable amounts of superfoods, powerful algae-based antioxidants with significant health benefits, new schools of clean hydrocarbons and biofuels and a huge carbon market that facilitates the trade in captured CO2 between industrial companies that produce large quantities of CO2 and the manufacturing processes that consume it. Four Canadian companies have made significant progress in quantifiable and commercial capture of carbon emissions from negative emission technologies and raised more than $200 million as a collective of Bill Gates, Husky, Chevron, CNRL, Inventiv Capital, and many other venture capital firms. Finally, we will rip our arse off by saying that Akers Carbon Capture is the only publicly traded carbon capture company we know of with a market capitalization of over $1 billion.
Jan Gorski of the Pembina Institute sees the development of carbon capture and storage technologies as beneficial for decarbonizing industries such as cement and steel production. Tristan Goodman, the Explorers and Producers Association of Canada president, says that using carbon-enhanced oil extraction could help the domestic oil and gas industry reduce its emissions. Still, primarily medium-sized oil and gas producers were disappointed that they were excluded from the budget.
Cement is a crucial ingredient that strengthens concrete and is responsible for 7% of global carbon dioxide (CO2) emissions. For example, emissions from power plants are used by oil companies to increase production, but oilfield companies cannot borrow for carbon capture projects.
This summer, the largest company in Akers ASA entered the renewable energy sector with the founding of Akers Offshore Wind (AKER) and the capture of CO2 from Akers Horizons.
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