Although the concept of direct air capture is simple, removing a gas that makes up less than 1% of the atmosphere is a major challenge. Interest and activity have accelerated recently, with backing from major investors including venture capital and oil and gas companies. What contribution might direct air capture make by 2050? Which technologies are most promising? Can direct air capture succeed without carbon pricing?
Carbon Capture Utilization and Storage (CCUS) is seen as vital in 2C scenarios. Yet, Enhanced Oil Recovery (EOR), the most widespread utilization and storage option, draws most of its CO2 from existing reservoirs and not from emissions. While there is potential for large-scale implementation of CCUS, many challenges impede this. Today, the list of CO2 sourcing, capture, utilization, and storage options is expanding, and new technology could further reduce costs. What business models will allow these new options? How will they drive scale?