A report published by the UK’s largest carbon capture, utilisation and storage (CCUS) start-up, Carbon Clean, has revealed that a majority of executives in hard-to-abate sectors plan to use CCUS as a tool in their net zero emission armoury.
The ‘first of its kind’ report also indicated that 60% of executives plant to roll out a CCUS solution in the next decade, with a ‘majority’ stating that space is a barrier to adoption. 34% planned to launch CCUS initiatives within the next six years.
Based on an anonymised survey of senior executives, ‘Scaling up CCUS – market insights’ also showed that funding is an issue for a large percentage of respondents, with 59% of executives preferring a mix of funded and owned CCUS equipment.
Onward transportation and disposal of captured carbon, in addition to markets for carbon use was the most frequently mentioned concern around CCUS adoption.
Published jointly with Decarb Connect, the report addresses questions around how quickly companies should select decarbonisation technologies.
“Commit too soon and risk losing out on newer developments but leave it too late and risk falling behind … this report aims to address those questions,” said Alex Cameron, Founder & CEO, Decarb Connect.
The publication comes just a month before Carbon Clean releases its fully modular carbon capture technology, with the company aiming to make CCUS simple, affordable and scalable.
Stating that the survey demonstrates a demand for this kind of technology, in addition to CCUS itself, Aniruddha Sharma, Co-Founder & CEO, Carbon Clean, explained, “There are many routes to net zero and technologies that can help industries achieve their climate goals, but this survey supports the role that CCUS is already playing and will go on to play in the coming decades.”