Carbon Capture Technology
To protect our nation’s abundant fossil fuel resources for the long term, we must perfect and deploy technologies that can effectively capture carbon molecules directly from power plants’ flue gas, prevent those molecules from being emitted directly into the atmosphere and do so at an affordable price that makes this an economically viable solution.
Carbon capture and sequestration (CCS) is perhaps the most commonly studied and funded technological solution. CCS is a process of isolating CO2 emissions from sources such as coal-based power plants, capturing and then storing them away from the atmosphere. However, CCS presents a number of challenges including high costs, energy inefficiencies and a reluctance to store emissions in individual communities.
Carbon Capture & Recycling
The potential now exists to move beyond CCS and mitigate industrial CO2 emissions while generating additional revenue. Carbon Capture and Recycling (CCR) aims to turn CO2 from a liability to an asset, utilizing it in the production of everything from fuel, building materials and animal feed to specialty chemicals and plastics.
For Wyoming, CCR is a critical component to ensuring a future role for many of our natural resources. Finding an economically viable way to decrease carbon emissions while turning a waste product into a commodity is a win-win for the environment and the economy.
The future of carbon capture technologies is tied to finding end-to-end solutions that are affordable and deployable. With an estimated $6 billion of CO2 currently needed for Enhanced Oil Recovery (EOR) alone, there is still significant revenue and market for CO2 emissions.
Wyoming’s ITC aims to serve as a catalyst for strategically aligning Wyoming’s efforts for research, testing, pre-commercialization, and commercialization of CO2 capture and utilization technologies. With the ITC, Wyoming is part of an international collaboration on the commercialization of CO2 utilization technologies using CO2 from both coal and natural gas emissions.