Global warming is a key concern for the industrial sector, considering the high volume of emissions it contributes. Existing strategies to tackle climate change are not enough because they mainly focus on eliminating the carbon emissions from industrial processes.
On the other hand, carbon capture involves the collection of carbon directly from the point of emission or from the atmosphere. Later, it is safely stored within the natural environment.
Research shows that heavy industries, such as cement, iron and steel, petrochemicals, and oil refining, account for about 22% of global carbon dioxide. These are the ones that should prioritize incorporating carbon capture into their operations to reduce their environmental footprint. However, implementing these projects requires strategic planning, technical expertise, and collaboration with stakeholders.
While the process seems long and complicated, it is worth the effort. In this article, we will share the key steps for a successful carbon capture initiative.
Define Project Objectives and Scope
The first step is to outline the objectives and scope of the project, considering factors such as emissions sources, capture technologies, and desired outcomes. For most businesses, the initiative aims to mitigate climate change by keeping carbon emissions out of the atmosphere indefinitely by storing it in the substrate.
However, businesses must establish measurable goals and key performance indicators (KPIs) as they enable them to track progress and success. Also, conduct thorough feasibility studies and site assessments to evaluate environmental, technical, and economic considerations. While defining the scope and objectives, they must identify potential risks, challenges, and opportunities.
Seek Suitable Capture Technologies
According to ScienceDirect, carbon capture technology enables the extraction of carbon dioxide from diverse applications and stream conditions. These include pre-combustion, oxyfuel combustion, post-combustion, and direct air capture. The most popular carbon capture technologies include absorption, adsorption, membrane separation, chemical looping, and cryogenic distillation.
Successful implementation requires choosing the ideal technologies based on their capture performance, environmental impact, energy requirement, and cost-effectiveness. For example, blending different absorbents helps maximize the outcomes by leveraging individual absorbent or adsorbent characteristics. Solid-state carbon capture is a scalable and efficient solution for heavy-emitting and hard-to-decarbonize industries.
According to Atoco, the novel solid-state adsorbent materials are synthesized according to the latest breakthroughs in reticular chemistry. They can help achieve a delicate balance between the material’s CO2 selectivity and bonding strength between the adsorbent material and CO2 molecules. With this balance, the bond is just strong enough to keep the molecules inside the adsorbent material but allows their release without requiring a lot of energy.
Get Funding and Financing
The cost of carbon capture solutions depends on approach and technology. According to statistics, carbon capture and storage (CCS) costs ranged between $15 and $130 metric tons of carbon dioxide (tCOâ‚‚) as of 2023. The overall project costs may significantly affect the budget of a business, making it essential to procure funding and financing.
As a business owner, you must identify potential sources of funding and financing to support the project. These include government grants, project financing arrangements, or private investment. Get ready with investment proposals, business cases, and financial models to seek funding options from investors, lenders, or funding agencies. Your proposal should demonstrate the return on investment, economic viability, and potential revenue streams linked with the project.
Obtain Permits and Regulatory Approvals
The Environmental Protection Agency issues permits for Class VI carbon capture facilities in every American state except North Dakota and Wyoming. While more states are pushing for primacy, one thing is clear: industries need to obtain permits and approvals to implement these projects. They must dig deep to understand the regulatory landscape and obtain necessary permits and approvals from regulatory authorities.
Subsequent issues can be avoided by making sure that emissions standards, safety requirements, environmental rules, and other legal issues are all followed. Interact with community people, regulatory bodies, and stakeholders to resolve issues and win support for the project. The project stays on course thanks to open communication and openness throughout the permitting process.
Go Ahead with Procurement and Construction
Once all the steps are covered, it is time to get the project up and running. Procure materials, equipment, and services to construct and install the carbon capture system. Only reliable and skilled vendors, contractors, and suppliers should be selected by business owners through open bidding procedures.
Delivering projects on time and under budget requires careful management of construction-related activities, budgets, schedules, and quality control throughout the process. Closely coordinate with subcontractors, contractors, and project partners to reduce interruptions and maximize resource use for the best results.
In conclusion, carbon capture projects are complicated, but the right approach can help industrial businesses to implement them effectively. With careful planning and effective execution, it is possible to launch and complete the project without hassles and hindrances.
