Billionaires back B.C. company to build first ‘negative emissions’ plant

CALGARY – Privately held, billionaire-backed Carbon Engineering Ltd. has raised enough money to design its first “negative emissions” facility to suck carbon out of the atmosphere.

“A financial investor invests because they like your business plan. We were able to bring some pretty big Silicon Valley venture capital to us,” Carbon Engineering president and CEO Steve Oldham said. While Carbon Engineering is still small and relatively unknown, it has attracted big-name shareholders, including Bill Gates and Canadian Natural Resources Ltd. founder Murray Edwards.

Oldham wouldn’t say whether Carbon Engineering’s industrial investors are looking to deploy the technology at their own operations, just that industrial emitters could use its system to offset their carbon at a price under US$100 per tonne. If the two technologies are used together, the company believes it can create a “closed loop” of carbon emissions, where the carbon that is emitted from the “air to fuels” process is the same carbon that had already been collected.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Billionaires back Canadian company to build first ‘negative emissions’ plantSilicon Valley invests in Canadian technology that can scrub a megaton of C02 from the atmosphere yearly, the equivalent of planting 40 million trees Over-engineered 'solution' for a 'problem' that solves itself Oh good! Just bought a brand new truck
Source: nationalpost - 🏆 10. / 80 Read more »

Book review: Building inspector's memoir provides an insider look at the B.C. property industryAuthor Ron S. Northo worked as a building inspector, chief building inspector and manager of regulatory services in a career that spanned 1979 to 2018 on Vancouver Island.
Source: VancouverSun - 🏆 49. / 61 Read more »

B.C. courier company secretly tests driverless vehicle in Metro Vancouver“Autonomous cars are the future, and we want to make sure when they’re here, we are at the forefront of this technology”
Source: VancouverSun - 🏆 49. / 61 Read more »