One of the newest and fastest-growing weapons in the fight against global warming is a technology that removes carbon dioxide from the atmosphere, known as direct air capture. Some liken this to sucking carbon dioxide out of the atmosphere. However, this is not a perfect science and most methods require large amounts of water. Things are about to change, with new companies proposing new strategies.
Direct air capture is already a growing business, and governments around the world are adding to this, offering tax incentives and subsidies to encourage the industry’s development. Some of the first companies to do this, such as Climeworks and Carbon Capture, are using large-scale fans in the process.
One is a California-based startup called Avnos that differentiates itself by producing water rather than using it in the process.
“We don’t consume water, we produce water,” said Will Kane, CEO of Avnos. “We consume no heat at all, which is a big differentiator and allows us to be more cost-effective, resource-efficient, and ultimately scalable than other solutions in this space.”
Avnos has invented what it calls “hybrid direct air recovery.” It uses dehumidification technology to generate approximately 5 tons of water for every ton of carbon dioxide captured. Others consume as much or more.
“We have an opportunity to turn the cost item of other forms of direct air recovery, where we spend money on water, into a revenue item where we can generate revenue by selling the water we produce directly from the air.” he said. Cain.
Like other direct air capture companies, Avnos benefits from both government tax credits and direct funding. Critics generally argue that direct air capture will never be able to remove enough carbon to reduce CO2 emissions by 50 billion tons per year, but Cain said this is because wind , solar power, geothermal.
Both water and captured carbon can be used to produce sustainable aviation fuel.That was particularly attractive to investors jet blue Ventures is the airline’s venture capital arm, investing in companies that are changing the travel industry.
“Not only is this climate friendly, but it’s also an inexpensive way to take carbon out of the air and actually produce feedstock for future sustainable aviation fuels,” said Amy Barr, president of JetBlue Ventures. Stated.
In addition to JetBlue Ventures, Avnos is backed by Shell Ventures, the Grantham Foundation’s Neglected Climate Opportunities Fund, and Rusheen Capital Management. Total VC funding to date: $35 million.
