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At first glance, direct air purifiers look like shipping containers stacked on top of each other, occupying open spaces. They are designed to destroy carbon: either by absorbing it from the air and storing it underground, or by turning it into a solid substance and permanently removing it from the atmosphere.
The technology has attracted the attention of the Biden administration, Tesla and SpaceX CEO Elon Musk, and companies like Alphabet and Meta. Carbon capture technology is an innovative and critical way to rapidly slow global warming and reach net zero emissions by 2050, proponents say. Critics say it’s more beneficial to focus on reducing greenhouse gases by changing societal behaviors.
Still, the spending bill would give companies a tax credit of $180 per ton of carbon sequestered, up from $50 per ton — a boon to the industry. To qualify, projects must emit at least 1,000 tonnes of carbon, up from the more restrictive 100,000 tonnes.
Adrian Corless, CEO of Pasadena, Calif.-based Carbon Films, said the changes will help boost the business. Currently, he says his company charges about $400 to $500 per ton of carbon sequestered to operate.
Getting a higher tax credit would make the business more attractive to investors and less dependent on philanthropic dollars, he said. Dropping the project size to qualify allows the company to partner with states, corporations and other entities on smaller projects across the country.
“It will allow us to enter the market and do business from 2023,” he said. “And it allows us to drive our voices faster.”
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