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65% of executives in hard-to-abate sectors have CCUS plans

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Sixty-five percent of executives working in hard-to-abate sectors see carbon capture utilisation and storage (CCUS) as ‘critical’ or ‘important’ in reaching their decarbonisation goals, a new report shows.

The Scaling up CCUS – market insights report is based on an anonymous survey of senior executives and input from an expert panel. It was published by Decarb Connect – a platform connecting the hard-to-abate industries, and Carbon Clean, which specialises in carbon capture technology and services.

Carbon Clean announced multiple partnerships this year with companies seeking to explore carbon capture potential. In May, the firm revealed it had joined forces with BayoTech to develop on-site hydrogen with carbon capture solutions, exploring the potential of biogenic sources, such as AD from landfill and organic waste. The company also established a joint venture with Veolia – Veolia Carbon Clean – to develop CCUS and compressed biogas projects in India.

Alex Cameron, founder and CEO of Decarb Connect, commented: “For many companies, there are questions around how quickly to select decarbonisation technologies: commit too soon and risk losing out on newer developments, but leave it too late and risk falling behind – this report aims to address those questions.”

The report is broken down into three key areas: the economics of carbon capture; the operational challenges around CCUS, and the pace of roll-out. Results showed 34% of respondents plan to roll out a CCUS solution in the next six years, increasing to 60% with CCUS adoption plans into the next decade.

“Gaining insight from those at the sharp end of industrial emissions is invaluable as we further develop solutions to scale up adoption of CCUS,” said Carbon Clean co-founder and CEO, Aniruddha Sharma.

“Later this month, we will be launching our fully modular carbon capture technology that is set to make CCUS simple, affordable and scalable. This survey demonstrates that there is demand for this kind of solution and for CCUS itself.

“There are many routes to net zero and technologies that can help industries achieve their climate goals, but this survey supports the role that CCUS is already playing and will go on to play in the coming decades.”