Creation date: November 18, 2020
Following tests and demonstrations of the ongoing CarbFix2 EU-funded INEA project, CarbFix and Climeworks have recently signed ground breaking agreements against climate change with ON Power, laying the foundation for a new plant which will significantly scale-up carbon removal and storage in Iceland.
The new plant will be able to permanently remove 4000 tons of carbon dioxide from the air per year. These agreements mark the first time the technologies have combined for a project of this scale to remove carbon dioxide from the air.
Edda Sif Pind Aradóttir, CEO of Carbfix, states that "The combination of the proprietary Carbfix and Climeworks technologies marks a turning point in climate action, allowing us to permanently capture CO2 already emitted to the atmosphere and rapidly turn into stone underground."
Robert Goodchild, INEA Head of Unit for Energy Research and Innovation Fund, underlines that "The Carbfix concept, developed and proven through over a decade of European scientific collaboration, is an excellent example of a research and innovation project that has the potential to have a significant impact through removing carbon permanently from the atmosphere."
CarbFix2 which started in August 2017 and runs until 31 January 2021, captures carbon dioxide from the air and from a geothermal power plant which is then dissolved in water and turned into stone in underground basaltic formations in Iceland. The technology and similar geologic formations within Europe have large potential in ultimately contributing towards making the EU climate-neutral by 2050. CarbFix2 is a continuation of another EU-funded project, CarbFix, which was carried out in 2011-2014, and which laid the foundations for the carbon storage technology that is now being further tested.