An anonymous reader quotes the BBC:
British Columbia-based Carbon Engineering has shown that it can extract CO2 in a cost-effective way. It has now been boosted by $68m in new investment from Chevron, Occidental and coal giant BHP… With its new funding, the company plans to build its first commercial facilities. These industrial-scale direct air capture (DAC) plants could capture up to one million tonnes of CO2 from the air each year….
Carbon Engineering’s process is all about sucking in air and exposing it to a chemical solution that concentrates the CO2. Further refinements mean the gas can be purified into a form that can be stored or utilised as a liquid fuel…. Carbon Engineering says the liquid can be used in a variety of engines without modification. “The fuel that we make has no sulphur in it, it has these nice linear chains which means it burns cleaner than traditional fuel,” said Carbon Engineering’s Dr Jenny McCahill. “It’s nice and clear and ready to be used in a truck, car or jet.”
CO2 can also be used to flush out the last remaining deposits of oil in wells that are past their prime. The oil industry in the US has been using the gas in this way for decades. It’s estimated that using CO2 can deliver an extra 30% of crude from oilfields with the added benefit that the gas is then sequestered permanently in the ground… There is a big worry that with large investments from the fossil fuel industry, the focus of Carbon Engineering’s efforts could be turned to producing more oil, not just tackling climate change. Carbon Engineering says that if governments want to invest in its process they are very welcome to do so. If they’re not ready to stump up the cash, the company is happy to take funding from the energy industry as time is so short, and the need for the technology is so great.

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Source:: Slashdot