Oil Firms Back Carbon-Removal Accelerator

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Five large oil and natural gas companies in Canada are partnering in a new project to speed up development of so-called direct-capture carbon-removal technologies that can help economies move beyond “net zero” and become “carbon negative.” The Avatar Carbon Removal Accelerator is now accepting proposals for projects that can be developed and scaled and potentially compete for the US$100 million XPrize Carbon Removal competition, which is funded by electric car magnate Elon Musk. Suncor, Enbridge, Royal Dutch Shell, Imperial Oil and Cenovus Energy will contribute technical and corporate expertise to projects in the accelerator. That includes expertise in technologies related to the lithosphere, or the earth’s outer crust, as well as strategies for scaling technology, said Kevin Krausert, CEO of Avatar Innovations, one of the lead partners in the accelerator. The goal is to find “the next Carbon Engineering,” Krausert explained in a news conference Wednesday, referring to the Canada-based carbon-removal specialist that is now a leader in the sector after receiving early support from oil and gas companies (OD Dec.3'20). The accelerator will be housed in the newly created Energy Transition Center in downtown Calgary. It will have access to academics, labs and test facilities from the University of Calgary, another partner.

Carbon Capture (CCS)
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