REYKJAVIK, ICELAND - MAY 24: In this aerial view, the Mammoth carbon removal plant, considered the ... [+] largest direct-air capture plant in the world is seen on May 24, 2024 in Reykjavik, Iceland. The Swiss start-up Climeworks and Icelandic partner Carbfix collaborated on the Mammoth project, utilizing Climeworks' Direct Air Capture (DAC) technology to extract CO2 directly from the air using fans and special filters. Powered by clean geothermal energy, the CO2 is then pumped deep into Iceland's bedrock, locking it away permanently. Mammoth's annual capture of 36,000 tons of CO2 is seen as a significant step in fighting climate change. (Photo by John Moore/Getty Images) As the world grapples with the accelerating impacts of climate change, 2024 emerged as another landmark year for the carbon dioxide removal (CDR) industry. Advances in technology, increased financial backing, and regulatory momentum have pushed the sector closer to becoming an essential cornerstone of global climate strategy. But despite mounting enthusiasm, valid questions about scalability, cost, and regulatory frameworks remain. Pre-purchases are essential, but the industry must start delivering carbon removal credits in order to grow. For example, CDR.fyi reports that despite 12 million tons of CO2 being sold, only 4% of purchases have been delivered. Below are the top five developments that defined the space this year. 1. Expansion of Direct Air Capture Plants Worldwide Direct air capture (DAC) technology took a major leap forward in 2024 with the opening of new facilities and the expansion of existing ones. Climeworks inaugurated its Mammoth facility in Iceland, capable of capturing 36,000 tons of CO2 annually . Powered by geothermal energy, it represents a significant upgrade from Climeworks' earlier Orca plant. Meanwhile, Canada saw the establishment of the Deep Sky Alpha facility, a 3,000 ton per year DAC pilot testing and innovation center funded by a $40 million grant from Breakthrough Energy . These developments underscore the increasing feasibility of scaling DAC solutions, with global capacity for planned and announced projects surpassing 1 million tons annually for the first time. 2. Governments Increase Policy Support Government support for carbon removal technologies reached new heights in 2024. In the United States, the Department of Energy announced $1.8 billion in new funding for DAC testing platforms, pilots, and commercial projects – providing a significant boost to scalable CDR solutions. At COP29, governments agreed to rules on how countries can create, trade and register carbon removal credits, creating more certainty in the market. Canada made waves with its carbon removal procurement commitment, pledging to directly purchase at least $10 million in carbon removal credits to offset government emissions to reach net-zero goals. FBI Warns Gmail, Outlook, Apple Mail Users—Check 3 Things To Stop Attacks New Gmail Security Warning For 2.5 Billion—Second Attack Wave Incoming Stark Fed ‘Wake-Up Call’ Triggers $500 Billion Bitcoin And Crypto Price Rout 3. Record-Breaking Capital Raises The CDR industry saw continued and increasing levels of private investment in 2024. Heirloom raised $150 million in Series B funding to scale its innovative DAC technology that uses robotics and rocks to capture CO2 from the air. CarbonCapture Inc. secured $80 million in Series A financing, with backing from Amazon's Climate Pledge Fund and Aramco Ventures. Vaulted Deep closed a $32.3 million Series A round to expand its biomass carbon removal and storage operations. These investments highlight the growing confidence in the industry's potential to achieve meaningful climate impact. 4. Landmark Purchase Agreements From Private Buyers Corporate commitments to carbon removal ramped up significantly in 2024, with long-term purchase agreements marking a key trend. Morgan Stanley signed a deal with Climeworks to purchase 40,000 tons of CO2 removals by 2037, supporting the expansion of DAC facilities like Climeworks’ Project Cypress in Louisiana. Google announced a landmark deal with startup Holocene to forward purchase 100,000 tons of CO2 removal at a record low price of $100 per ton by the early 2030s. Similarly, Microsoft and Royal Bank of Canada partnered with Deep Sky to pre-purchase 10,000 tons of carbon removal credits over 10 years , with an option for an additional 1 million tons. According to CDR.fyi, carbon removal credits passed 2.1 million tons sold for the first time. These agreements not only provide critical funding for new projects but also reflect increasing corporate accountability for carbon emissions. 5. Challenges in Delivery Remain Despite these successes, the CDR industry continues to grapple with a significant delivery gap. According to CDR.fyi , only 4% of the 12 million tons of CO2 removal credits sold worldwide have been delivered. This shortfall highlights the challenges of scaling operations, ensuring permanence, and meeting the growing demand for verified carbon removal. For example, CarbonCapture Inc. paused the development of its Project Bison in Wyoming because of increasing competition for renewable power driven by AI data centers. Bridging this gap will require innovations in project deployment and stricter quality assurance measures. Looking Ahead The developments of 2024 represent both progress and potential for the CDR industry. While challenges remain, the rapid expansion of direct air capture plants, robust policy support, record-breaking investments, and high-profile purchase agreements signal that carbon removal is on the cusp of transformative growth. As stakeholders work to address delivery gaps and improve scalability, CDR is poised to become a cornerstone of global climate strategy in the years to come. Disclaimer: Phil De Luna is the Chief Carbon Scientist and Head of Engineering at Deep SkyChildren’s Minister Roderic O’Gorman said the party could not buck the trend in Ireland of junior coalition partners in Fine Gael and Fianna Fail governments losing support in subsequent elections. He said they expected to retain two to three seats out of the 12 they had won in the 2020 election on the back of a worldwide “Green wave”. “Undoubtedly it’s a disappointing result for our party today,” Mr O’Gorman told reporters in Ongar, Dublin. “It’s hard for a smaller party in government, that’s long been the tradition, the history in Ireland. We hoped going into the election to buck that but we haven’t been able to buck that today.” Mr O’Gorman, a candidate in Dublin West, is among the outgoing Green Party TDs in a battle to retain their seats. Culture Minister Catherine Martin, who is fighting to remain a Green Party TD for Dublin Rathdown, said it was a “very tight” race in her four-seat constituency. “We go in (to government) not afraid of that because the issue of the climate and biodiversity crisis is (greater) than our survival,” she said on RTE Radio. “I stand over and am proud of our track record of delivery.” Green candidate in Waterford Marc O Cathasaigh said he would not be “in the shake-up” to retain his seat in that constituency, while junior minister Ossian Smyth looks at risk of losing his seat in Dun Laoghaire. Junior minister Joe O’Brien is expected to lose his seat in Dublin Fingal, Neasa Hourigan is at risk in Dublin Central, while Wicklow’s Steven Matthews garnered just 4% of first preferences. Former Green Party leader Eamon Ryan, who announced his retirement from frontline politics in June, said his party had not had a good day. Arriving at the count centre at the RDS in Dublin, the outgoing environment minister told reporters: “If you don’t get elected you accept that, but you come back stronger and you learn lessons, and we’ve done that in the past and we will do that again.” He added: “No matter what the results today there will be a strong Green Party in Ireland, we have deep roots in the community and it’s a very distinct political philosophy and I think there is still space for that in Irish politics, for sure.” Mr Ryan said he did not believe his decision to retire, and the timing of his announcement, had affected the party’s showing. “Unfortunately – and this is just one of those days – we didn’t get the number of votes,” he said. He added: “We’ll look back and see what are the lessons, and what can we learn and what can we do differently. “It’s just one of those days when we didn’t have a good day.
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On December 10th, Beijing time, renowned journalist Matt Hughes exclusively reported that Manchester United has made the decision to stop appointing a Director of Football following the dismissal of Ed Woodward. This surprising move comes after the club parted ways with their previous Director of Football, John Murtough, in the summer. With this new direction, it appears that Manchester United is shifting their approach to their football operations.
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