HomeTech NewsBill Gates wants proposals to capture carbon dioxide from the atmosphere

Bill Gates wants proposals to capture carbon dioxide from the atmosphere

Bill Gates is best known as one of the founders of Microsoft, but since stepping away from the company, he’s been using his fame and fortune to fight issues like pandemics and climate change. The Catalyst program, from its Breakthrough Energy fund, addresses this second theme. He is looking for projects in Europe and aims to raise up to $3 billion by mid-2023.

- Advertisement -

Trade Gift Card With Legit Chinese Vendor on WhatsApp

The “request for proposals” seeks projects for four types of technology: clean hydrogen fuels, sustainable aviation fuels, energy storage and technology that captures carbon dioxide from the air.

The Catalyst program, launched in June 2021, says it has raised $1.5 billion in the first six months and expects to reach $3 billion by the middle of next year. In the US, the idea is to put $1.5 billion into projects with the Department of Energy over the next three years. The public-private partnership could reach US$ 15 billion in investments.

The amount to be disbursed, however, depends on how promising the projects are. “We’re not just going to give $1.5 billion — there are serious, rigorous project appraisal processes, and we have to go through them,” Jonah Goldman, director of Breakthrough Energy, tells The Verge.

- Advertisement -

Trade Gift Card With Legit Chinese Vendor on WhatsApp

In Europe, funding can also come from the European Investment Bank and the European Commission. Breakthrough Energy expects the partnership to raise $1 billion between 2022 and 2027. There are still plans for similar demand in the UK later this year and in more parts of the world after that.

Bet on carbon dioxide capture

How to avoid climate change without harming economic activities and putting a brake on development? Gates and others are betting on technologies to remove excess carbon dioxide from the atmosphere — a major contributor to global warming.

So, for companies, the point is no longer to make emissions neutral. You have to have negative emissions —that is, remove more carbon than you release.

For now, the technology is still expensive and complex. The largest industrial plant capturing gas from the atmosphere is Orca, which is in Iceland. It uses 27 tons of water for every ton of carbon dioxide. The mixture is injected underground, where it reacts with basaltic rocks to form carbonate minerals.

It sounds interesting, but it is still quite limited: the current capacity is 4,000 tons of carbon dioxide per year. This equates to just 790 passenger cars. Is very little.

- Advertisement -

Trade Gift Card With Legit Chinese Vendor on WhatsApp

Hence the interest of several companies and billionaires in improving technology as quickly as possible. In addition to Gates, Microsoft launched a $1 billion fund to make the process cheaper. Elon Musk has promised to award $100 million to the best idea to remove the gas from the atmosphere.

Source: The Verge.

- Advertisement -

Trade Gift Card With Legit Chinese Vendor on WhatsApp

George Philip
George Philiphttps://betechwise.com
George Philip is a seasoned tech professional with a deep-rooted passion for all things tech-related. His mission is to demystify complex tech topics and provide you with the insights and knowledge you need to navigate the ever-changing world of technology. With a keen eye for detail and a talent for making the intricate seem simple, George crafts engaging content that explores how technology impacts your daily life, your workplace, and the broader global landscape. Whether you're eager to stay updated on the latest gadgets, intrigued by emerging tech trends, or simply looking to understand how digital innovations shape our world, George's writing is your trusted source for clarity and expertise. Feel free to reach out to George via email at [email protected] for inquiries, collaboration opportunities, or to engage in thought-provoking discussions about the fast-paced world of tech. Stay informed, stay connected, and let George be your guide in the tech-savvy universe.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular