February 22, 2021,
Climate change can be so confusing.
We know the glacial ice is melting. That is straightforward.
That means sea levels around the world will rise. Not complicated there.
It is when we get to extended droughts and super storms that it gets a little confusing.
Really dry and really wet. Sometimes in the same year.
So the frozen monster storm in 2021 that engulfed Texas was very surprising, even though it was part of a national frigid crisis.
The investigative team at time.com reported, “Ten years ago, in 2011, energy regulators warned the state’s electric-grid operators that they were ill-prepared for an unprecedented winter storm. And for decades before that, climate scientists had cautioned that a warming planet would cause climate chaos, raising the average global temperature while driving unusual weather events like this one.”
Okay, sometimes information can be presented in a very straightforward way but the receiver of the message appears to be either disinterested or a non-believer.
The proponents of climate change are legion and the odd weather patterns appear to be supporting their data.
So, what can we do to combat climate change?
A team in the United Kingdom offers one of many solutions.
Have you heard of carbon capture?
Carbon capture and storage (CCS), is the process of capturing waste carbon dioxide (CO2), transporting it to a storage site, and depositing it where it will not enter the atmosphere.
Makes sense. Sounds easier said than done. How is this done?
Usually the CO2 is captured from large point sources, such as a cement factory or biomass power plant, and normally it is stored in an underground geological formation. The aim is to prevent the release of large quantities of CO2 into the atmosphere from heavy industry, and so help to limit climate change.
Here is what the United States government has to say about it at energy.gov, “Carbon capture, utilization and storage (CCUS), also referred to as carbon capture, utilization and sequestration, is a process that captures carbon dioxide emissions from sources like coal-fired power plants and either reuses or stores it so it will not enter the atmosphere. Carbon dioxide storage in geologic formations includes oil and gas reservoirs, unmineable coal seams and deep saline reservoirs — structures that have stored crude oil, natural gas, brine and carbon dioxide over millions of years.
The Energy Department supports research and development of tools to assess the environmental fitness and safety of — and predictability of future capacity within — proposed geologic storage sites. We’re also developing models that simulate the flow of stored carbon dioxide, to help understand and predict chemical changes and effects of increased pressure that may occur.”
It is a fascinating subject and if it is a process that becomes more efficient over time, we certainly would like to research this more.
Research is one thing.
There is a team in the United Kingdom actually trying to do something about it.
UK Entrepreneurs Launch “Counteract” to combat the Global Climate Crisis through Carbon Removal
Firm to grow solutions in a marketplace estimated to exceed $10B by 2026
News provided by
Feb 17, 2021, 04:15 ET
LONDON, Feb. 17, 2021 /PRNewswire/ — UK entrepreneurs and investors Matt Isaacs, Andrew Shebbeare, and Andy Bonsall today announced the launch of Counteract to combat the climate crisis through research, development, and investment in carbon removal technology. Counteract will help engineer and scientist entrepreneurs with the early stage investment, commercialisation, access to community, and communications support required to develop businesses capable of capturing or storing greenhouse gases at gigaton scale.
The company is the co-founders’ fourth venture together, having last collaborated to launch and grow the global media and technology business Essence, to date the only business ranked #1 in both The Sunday Times Tech Track and International Track league tables. Essence was acquired by WPP in 2015 and today manages over $4bn of global media spend.
Isaacs, Shebbeare, and Bonsall, who have been privately investing for several years, bring extensive expertise in venture building spanning fintech, technology, consulting and media. They are joined by former Octopus Ventures investor Caitlin Wale, bringing sustainability and low carbon solutions experience in built infrastructure and renewable energy.
To mitigate the cruelest impacts of climate change will require increasing carbon capture from 0.04 Gigatons in 2020 to 5.6 gt by 2050 according to the International Energy Agency, a growth rate faster than the oil industry peak. Counteract will support very early stage concepts and ventures across the spectrum of carbon removal solutions such as enhanced weathering, blue and soil carbon, direct air capture, afforestation/reforestation, and new sequestration channels.
Commenting on the launch, Counteract co-founder Andrew Shebbeare said: “This decade will set the trajectory for humankind’s response to climate change. Time is too short for vital innovations to get stuck in the lab or ideas to languish on paper. We know that solutions proven in theory or at pilot scale now need wide-ranging support and patient capital to break through. We are excited to launch Counteract today to help turn great ideas into scalable solutions that will make a material impact in our lifetimes.”
Shebbeare continued: “With the right effort and response, we can remove enough carbon from the atmosphere to avert enormous suffering. And we believe that for those who are willing to prioritise impact over short term returns, carbon removal also presents an extraordinary commercial opportunity. 2021 is going to be a critical year for climate solutions globally and we are excited to see the UK at the forefront with COP26 in Glasgow in November.”
With increasing investment interest and philanthropic support for climate solutions, and the carbon marketplace estimated to exceed $10B within the next five years, the market for private investments in this space is destined for significant growth. Counteract provides an important new vehicle for accelerating early stage carbon removal solutions at a critical time for the industry.
Counteract will announce a first round of investments and partnerships in the coming months.
Launched in February 2021, Counteract is a new carbon removal company combating the climate crisis through research, development and investment. Counteract gives engineer and scientist entrepreneurs the financial and strategic support to turn fresh ideas into self-sustaining businesses with the potential to capture or store greenhouse gases at gigaton scale.
Counteract was founded by experienced entrepreneurs and investors from the world of digital media, finance, technology and consulting, with early backgrounds in engineering, economics and material science, a shared track record of growing organizations from startup to global scale and a shared belief that business can be a profound force for good.
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