![]() ![]() ![]() Inflation Reduction Act contains generous subsidies for direct air capture projects, and in Canada, the federal government is currently hammering out details of its promised tax credit for carbon and direct air capture deployment.ġPointFive has stated it believes it can deploy 70 direct air capture facilities worldwide by 2035, under current compliance and market scenarios. While the technology is very expensive, increasingly aggressive climate policies by governments around the world are making its deployment more feasible. Unlike the more common form of carbon capture and storage (CCS) technology - which captures emissions from industrial flue stacks and sequesters them safely deep underground - direct air capture technology removes harmful C02 emissions directly from the air for safe storage underground.Īdvocates say direct air capture technology has the potential to not only reduce current greenhouse gas emissions, but also to begin removing the large quantities of CO2 emitted in the past that remain trapped in the earth's atmosphere. ![]() The plant under construction is expected to capture up to 500,000 metric tonnes of carbon dioxide per year with the capacity to scale up to 1 million metric tonnes per year.
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