Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Could a tax credit turbocharge carbon-tech?

The proposed increase in tax credits for carbon capture and storage, introduced Wednesday in the U.S. House of Representatives, may well be intended to revive the notion of “clean coal.” But it also could turbocharge breakthrough technologies for sucking carbon out of the air.

The NRG Cosia Carbon XPRIZE has been driving innovation in carbon-capture by dangling $20 million in prizes for technologies to convert carbon dioxide emissions from power plants and factories into everyday products like building materials and alternative fuels.

The goal is to make carbon capture pay for itself, turning emissions-reduction from a cost to an asset, and actually reduce emissions overall as quickly as possible,” the XPRIZE’s Marcius Extavour told ImpactAlpha. “The ultimate goal is for carbon conversion to play a part in a completely transformed industrial economy, around the world.”

The 47 entrants have been winnowed to about two dozen that are working feverishly to hit the next stage.

Among the semi-finalists: Hayward, Calif.-based Kiverdi, which is converting CO2 into high-protein meal and oils with properties similar to plant-based oil. CarbonCure, Dartmouth, Canada, is recycling carbon dioxide to make stronger concrete. Breathe, a team in Bangalore, India, is developing technology to convert CO2 to usable methanol for shampoos, plastics and other products.

Next year, 10 finalists will be challenged to replicate their demonstration projects — at 10 times the scale.

You might also like...