Key Player Working on Carbon Capture and Sustainability Technology

The global carbon capture and storage (CCS) market is projected to reach $7.17 billion in 2025. This represents a growth of 15.3% from 2024, driven by factors like environmental regulations, climate change concerns, and increased investments in clean energy and decarbonization initiatives. The market is expected to continue expanding, with a Compound Annual Growth Rate (CAGR) of 12.6% between 2025 and 2032, reaching $15.46 billion.

The carbon capture and storage market is expected to witness significant growth over the forecast period. This can be primarily attributed to the stringent government regulations regarding emission control and carbon reduction targets globally. The increasing utilization of CCS technology in applications such as enhanced oil recovery is also boosting the market growth. Moreover, rising environmental concerns resulting from high carbon emissions from industries, such as cement, mining, and power generation, is prompting market players to adopt carbon capture technologies and offer solutions. However, high capital investment associated with carbon capture and lack of overall infrastructure is a major restraint challenging the market growth.

Carbon Engineering

About Company

Carbon Engineering is a Direct Air Capture (DAC) technology company founded in 2009 to make capturing large amounts of CO2 from the atmosphere a cost-efficient reality. We have spent over a decade evaluating large-scale DAC pathways and producing critical data and lessons learned that support and validate commercial deployment.

The company was founded in 2009 by David Keith, now a professor in the Department of the Geophysical Sciences at the University of Chicago, and is now led by Daniel Friedmann as CEO, who served as the former CEO of Canadian aerospace company, MDA, for 20 years.

Carbon Engineering is funded by several government and sustainability-focused agencies as well as by private investors, including Microsoft founder Bill Gates and oil sands financier N. Murray Edwards. In addition, in 2019 the company received US$68 million from private investors, including fossil fuel companies Chevron Corporation, Occidental Petroleum, and BHP. In August 2023, Occidental Petroleum bought Carbon Engineering for $1.1B, with payments over 3 years, and the intention to build 100 DAC plants.

Occidental, the oil giant that has tried to fashion itself as a climate tech leader, is being real clear now about capturing carbon dioxide emissions, which it sees as the next big thing for fossil fuel production.

That shouldn't be surprising coming from a petroleum company. But Occidental has built up an entire arm of its business purporting to fight climate change. It acquired the startup Carbon Engineering, a pioneer in the development of technologies that filter CO2 out of the air, back in 2023. Occidental subsidiary 1PointFive is building giant facilities in Texas using Carbon Engineering's tech. Those projects got support from the Biden administration and from big companies, including Amazon and Microsoft, with their own climate goals to meet.

Sucking carbon dioxide out of the air is supposed to get rid of the pollution causing climate change.

Climeworks

About Company

Climeworks is a Swiss company focused on removing carbon dioxide (CO2) from the atmosphere using Direct Air Capture (DAC) technology. They combine DAC with permanent underground storage, offering solutions for businesses and individuals to achieve net-zero targets and mitigate climate change. Climeworks has developed and operates the world's first commercial DAC plant, Orca, in Iceland, and is expanding its operations with larger facilities.

At Climeworks, they offer carbon dioxide removal for individuals and businesses who want to fight climate change. With the services offered, action can be taken on behalf of the planet by permanently removing your unavoidable CO₂ emissions.

To achieve this, we combine our direct air capture technology with permanent underground storage.

• Direct air capture, as the term implies, is a technology that captures carbon dioxide directly from the air — such as our Orca facility in Hellisheidi, Iceland.
• Permanent underground storage is what happens after we hand the air-captured CO₂ over to our storage partner — Carbfix. They transport the CO₂ deep underground, where it reacts with basalt rock through a natural process, transforms into stone, and remains for over 10,000 years. This makes our carbon dioxide removal service both effective and permanent.

Shell Global 

About Company

Shell Global Shell Catalysts & Technologies provides carbon capture and storage technologies, including CANSOLV and ADIP-ULTRA. These amine-based absorbents capture pollutants from either low-pressure or high-pressure gas streams to produce extremely pure CO2 (99.9%+ on a dry basis) as by-products that can be sold, reused or stored.

The CANSOLV capture system removes CO2, SO2 and NO2 from a wide range of low-pressure applications. The technology is currently operating on or being deployed on a variety of applications including natural gas combustion, natural gas combined cycle, coal-fired power, fluid catalytic cracker (FCC), cement, steel manufacturing, hydrogen manufacturing and many other industrial and chemical applications.

ADIP-ULTRA is a gas-treating process for CO2 removal that can be an ideal solution for meeting emissions requirements in both greenfield and brownfield applications. This regenerative-amine-based process is suitable for bulk and deep removal of hydrogen sulphide (H2S) and CO2 from natural gas, refinery gases, synthesis gas and other process gases, with the main application area being for gases with no requirement for organic sulphur components removal. CO2 can either be removed or slipped when selective removal of H2S is desired.

Carbon capture and storage (CCS) is a combination of technologies that capture, transport and store carbon dioxide (CO2) deep underground, preventing its release into the atmosphere.

CCS is one of the solutions that can be used to reduce emissions from sectors that are slower-to-decarbonise such as the production of steel, cement, or chemicals or to help decarbonise power stations that use fuels like oil and gas.

CCS can also help enable the creation of low carbon energy products such as biofuels and hydrogen, and lower carbon intensity hydrocarbons like liquefied natural gas (LNG).

ExxonMobil

About Company

ExxonMobil is a global leader in carbon capture and storage (CCS), a technology that captures CO2 emissions from industrial sources and then stores them deep underground. They have been involved in CCS for over 30 years and are working to scale up these projects to help reduce emissions from various industries like refining, chemicals, cement, steel, and power generation.

ExxonMobil's LaBarge facility in Wyoming, which has captured more carbon dioxide emissions to date than any industrial facility in the world, is a hub for helium and liquefied natural gas production. LaBarge is shaping how we reduce CO2 emissions with carbon capture and storage (CCS) technology.

Capturing approximately 7 million tonnes CO₂/year from natural gas processing, primarily used for enhanced oil recovery.

The Porthos project in the Netherlands, a Carbon Capture and Storage (CCS) initiative, involves ExxonMobil. It aims to collect CO2 emissions from industrial sources in the Port of Rotterdam and transport them by pipeline to depleted North Sea gas fields for permanent storage. ExxonMobil is one of the industrial partners contributing CO2 to the Porthos project.

Netherlands – ExxonMobil has executed a joint development agreement to advance its interest in the Port of Rotterdam CO2 Transportation Hub and Offshore Storage project, known as Porthos. The Porthos project aims to collect CO2 emissions from industrial sources and transport them by pipeline to depleted North Sea offshore gas fields. Porthos and its potential customers have applied for EU and national support mechanisms. ExxonMobil also participates in the H-Vision study into large-scale production of low-carbon hydrogen in Rotterdam.

Svante

About Company

Svante is a Canadian company specializing in carbon capture and removal solutions. They offer technologies like filters and rotary contactor machines that capture CO2 from industrial emissions and the air, ultimately aiming to reduce greenhouse gas emissions.

The Future of Commercial Carbon Capture Technology is Based on Solid Sorbents. Solid sorbents, particularly metal-organic frameworks (MOFs), are a step change for the carbon capture industry. Their energy efficiency, resistance to degradation in the face of post-combustion flue gas impurities, and low cost of ownership make them ideal for carbon capture.

• High CO2 storage capacity means smaller inventory of adsorbent: The tailormade solid sorbents have a high storage capacity for carbon dioxide. A sugar-cube sized quantity of our sorbent materials has the surface area of a football field.
• Proven & effective at separating CO2 from nitrogen: The sorbent material is proven and effective at separating CO2 from nitrogen contained in diluted flue gas from cement, lime, steel, aluminum, fertilizer, pulp & paper, oil & gas, and hydrogen plants.
• Fast CO2 catch & release: The engineered structured adsorbent beds (filters) to capture and release CO2 in less than 60 seconds, compared to hours for other solid sorbent technologies.
• Resistant to SOx, NOx & other impurities: The MOF sorbent material we use has a unique resistance to SOx, NOx, oxygen impurities, and moisture swing. It's resistant to chemical degradation, which means less of a headache for operators and longer product lifetime.

Zero Carbon Systems

About Company

Zero Carbon Systems is a direct air capture company focused on delivering highly scalable, low cost, and low energy solutions for carbon dioxide removal. The ZCS design offers a continuous process, the ability to run 100% on renewable electricity, and very large-scale, high-throughput units to optimize economics at the megaton scale and beyond. Zero Carbon Systems is funded by Zero Carbon Partners, an investment and strategic operating firm focused on emerging companies in the low carbon sector with the potential to remove at least 0.5 gigatons (500 million tons) of CO₂ per year from the atmosphere by 2050.

Global Thermostat is a company focused on direct air capture (DAC), a technology that removes carbon dioxide (CO2) directly from the atmosphere. They use a proprietary method involving a solid sorbent monolith and a low-temperature vacuum adsorption process to capture CO2 efficiently. This captured CO2 can then be stored or used in various industrial applications.

Global Thermostat, a pioneer in carbon dioxide removal, has been acquired by Direct Air Capture company Zero Carbon Systems. The combination brings together core technology at Global Thermostat, considered by many to be the best in the world, with Zero Carbon Systems' highly advanced engineering design.

Direct Air Capture is the removal of carbon dioxide directly from the atmosphere. Because carbon dioxide only makes up a small percentage of air (about 400 parts per million, or ppm), this requires a mechanical design solution to move a substantial amount of air across a substrate that adsorbs (captures) that CO2 – and then applies a process to release and store that CO2 – allowing the cycle to repeat.

Zero Carbon Systems is a company focused on developing and deploying Direct Air Capture (DAC) technology for carbon dioxide removal. Their technology uses a proprietary solid sorbent on a monolith coupled with a low-temperature vacuum adsorption process to capture CO2 from the air. This allows for cost-effective and scalable carbon capture at a large scale.

Equinor

About Company

Equinor (formerly Statoil) is a prominent player in carbon capture and storage (CCS) technology, having been involved in CCS since 1996 at the Sleipner field in the North Sea. They have also been involved in large-scale CCS initiatives across North-West Europe and the United States. Equinor's involvement in CCS is promoted as a key part of its clean energy strategy, with CCS featured in its advertising campaigns.

Equinor Ventures invests in RepAir Carbon Capture:

The RepAir Direct Air Capture (DAC) solution is inspired by battery and fuel cell principles, RepAir's innovative electrochemical device utilizes electricity to separate CO₂ from the air. The solution requires 70% less energy than the industry average, is easily scalable, and approximately 25% the cost of other offerings. Among several other investors, Equinor Ventures participated with a convertible note investment in the $10 Million series A round together with Shell Ventures and Repsol.

RepAir Carbon Capture requires 70% less energy than the industry average because it operates at ambient temperature [i.e. no heating of solvents] and is designed to run solely on renewable energy sources. The solution is also built using multiple cell stacks, which makes it modular, easily scalable, and affordable in ways the majority of current solutions are not. RepAir's electrochemical DAC can reduce the cost of capturing the CO2 to $70 per ton when the status quo exceeds hundreds of dollars. The current investors, with unrivaled climate tech expertise and infrastructure, provide RepAir with an additional strategic advantage.

"Direct Air Capture technologies are a trillion-dollar market opportunity by 2050; however, to unlock that potential, solutions must be energy efficient, cost-effective, and scalable," said Amir Shiner, CEO and Co-Founder of RepAir Carbon Capture. "RepAir is the very first solution to be able to overcome those hurdles, and doing so may make it not only a leader in the space but also a key component of going green globally.

Carbon Clean

About Company

Carbon Clean is a global leader in cost-effective CO2 capture technology and services. The company's patented technology significantly reduces the costs and environmental impacts of CO2 separation when compared to existing techniques.

Carbon Clean is a leader in revolutionising carbon capture solutions for hard-to-abate industries including cement, steel, refineries, and energy from waste. The company's patented technology significantly reduces the costs of carbon capture when compared to conventional solutions.

Carbon Clean has over a decade of experience in designing, building, and operating industrial carbon capture systems and it has 49 technology references around the world. The company is an innovation leader in the CCUS market, with over 100 active patent assets across 18 patent families covering 30 countries, and has developed a modular technology, CycloneCC, that is vital for scaling industrial carbon capture deployment to achieve global net zero targets.

Carbon Clean is a company specializing in cost-effective carbon capture technology and services, focusing on capturing CO2 emissions from industrial sources and using or storing them. Their technology, particularly their modular CycloneCC system, aims to make carbon capture more accessible and scalable for various industries.

Carbon Clean has proven its technology at scale in power, cement, refineries, CHP and heavy industry boilers in over 10 locations including the UK, USA, Germany, India, Norway and the Netherlands. It is currently in use at the world's largest industrial-scale carbon capture and utilisation plant in Tuticorin, India for the chemicals sector. the UK government has supported the development of Carbon Clean's technology through competitive grants.

The company was awarded a 'Technology Pioneer' award by the World Economic Forum and most recently selected as one of Cemex Ventures Top50 ConTech Startups and named a 2021 Global Cleantech 100 company.

Mitsubishi 

About Company

Mitsubishi Heavy Industries (MHI) and its affiliates are actively involved in carbon capture, utilization, and storage (CCUS) technologies and projects. They have developed and commercialized the KM CDR Process, a CO2 capture technology, and are also working on advanced versions like the Advanced KM CDR Process with improved energy efficiency. MHI also offers compact CO2 capture systems for smaller industrial facilities.

CO2 Capture Technology: CO2 Capture Process:

KS-21™ & Advanced KM CDR Process™

MHI developed KS-1™ and Advanced KM CDR Process™ with KEPCO. The original technology consisted of KS-1™ - a solvent whose high reliability in commercial plants worldwide - and KM CDR Process™ for CO2 capture. Cost-saving Advanced KM CDR Process™ improves that earlier configuration and incorporates KS-21™ solvent.

Commercialization of KS-21™ solvent was completed following demonstration testing in 2021 at the Technology Centre Mongstad in Norway, one of the world's largest carbon capture demonstration facilities.

Major characteristics:

KS-21™ solvent offers lower volatility and higher stability against degradation. Its contribution of reducing absorption reaction heat and capture energy translate to potential economic benefits with respect to lower operating costs for the customer, etc.

A low level of amine emissions results in reduced solvent consumption and lighter impact on the environment. (Environmental impact assessment by a third-party institution has yielded highly reliable emissions measurements.)

The new system can accommodate carbon capture from a variety of flue gas sources. It supports customers in industrial and infrastructure areas including not only conventional power generation and chemical plants, but also biomass and LNG liquefaction plants, steel and cement factories, waste incineration facilities, etc., from project formulation stages including basic design, pilot demonstration, licensing, etc.