Carbon Removal - Putting Oil Back in the Ground
Transcript of Carbon Removal - Putting Oil Back in the Ground
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Carbon RemovalPutting Oil Back Underground
Peter Reinhardt, CEOCalifornia Climate Change Scoping Plan WorkshopAugust 2, 2021
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Carbon Engineering direct air capture plant rendering
Sleipner Field carbon sequestration experiment results
Engineered Carbon Removal Offers Measurability & Permanence
CO₂ impact is certain
because CO₂e removal activities can be
rigorously isolated, measured and monitored.
CO₂ permanence is certain
due to simpler, well-understood chemistry and
physics.
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PATENTED
1. 2. 3.
Bio-oil sequestration is a new engineered carbon removal pathway
Cellulosic biomass already
captures 100+ Gt CO₂/year. We
collect it and heat it to 500°C
without oxygen.
The biomass breaks down into
bio-oil, which is rich in carbon
similar to crude oil but has
higher oxygen and lower
energy content (i.e. it’s not
useful as a fuel.)
Bio-oil is prepared and injected
into Class I industrial disposal wells
or Class V salt caverns, where it is
permanently stored. Bio-oil is
denser than formation brine,
meaning it naturally sinks and
solidifies in place.
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GLOBAL BIOMASS WASTE IS140 GT/YR
CA Ag Waste E.g. Central Valley
CA Nut ShellsE.g. Capay Canyon
CA Forest ResidueE.g. Sierras
Biomass availability is enormous, but diffuse
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Past: 1000 tpd cellulosic plants Charm: 10 tpd mobile plants
Small, mobile bio-oil plants keep biomass supply-demand in check
$65/ton biomass projections became
$125/ton biomass reality
Broke local biomass supply-demand curve
$60/ton biomass costs, potentially lower,
due to diffuse mobile deployment
at the field edge to minimize transport costs.
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Charm injects into salt caverns (Class V) and deep strata (Class I)
Lithology:
Lithology cross section from Seward County to Smith Count, Kansas
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PATENTED
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Life Cycle Analysis
Lithology:
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Charm’s first demo delivered 40% lower cost than DAC10 months from invention to commercial injection
Injection Site, January 2021Charm Chief Scientist Shaun Meehan at rail transload, January 2021
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Charm has won every rigorously scientific carbon removal RFP(OVER 3000 tons CO2e removed to date)
25% of Stripe’s 2020 RFP
at $600/ton CO₂e
8% of Microsoft’s 2020 RFP
at $600/ton CO₂e
12% of Shopify’s 2020 RFP
at $600/ton CO₂e
416 tons CO2/e gone forever… ahead of schedule
2K tons CO2/e gone forever… ahead of schedule
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Charm can drive a declining cost curve from $600 to $50/ton CO₂eAnd eliminate 10%+ of global CO₂ emissions in the process (2% from H₂ production, 8% from steel)
Voluntary Carbon RemovalNeed 250,000 t CO₂e, $100M TCV, 2-4 years
LCFS + 45Q Regulatory Carbon RemovalEst. 6 Mt CO₂e/yr for $1,500M ARR, +2-5 years
Industrial Syngas — Steel, AmmoniaEst. 2.6 Gt CO₂e/yr, $116B ARR, +10 years
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Thank You
Questions?