A news item that I posted in our Vender News section caught my attention this morning. Spotnana, a Travel-as-a-Service platform modernizing the infrastructure of the travel industry, announced the release of Spotnana Carbon Removal, a new offering that enables corporations to remove carbon from the atmosphere through advanced technology that is fast, exact, and permanent. What technology? It is a system offered by Creturner Group, which uses a Bio Carbon Capture and Storage (Bio-CCS) process to convert wood-based waste products into coal that is deposited into old, end-of-life mining pits. This process ensures that a precise amount of carbon is permanently removed from the atmosphere and stored underground. “Unlike traditional forms of carbon offsets like tree planting, our approach is immediate, permanent, and clearly measurable,” said Daniel Moström, Board Chairman at Creturner Group.
I went to the Creturner Group website to learn more about the process. According to Creturner, it has its own facilities in Sweden with its own energy production from its solar field. The field generates 2.3 megawatts to reduce raw material costs and environmental impact. Creturner’s method is fast, accurate, permanent, and measurable, the company says. Monitoring is done through linked smart contracts that give the customer insight into the results and future financial returns of the environmental investment.
After an offset is purchased, a digital certificate is provided to customers in the form of a blockchain-based token as proof of their carbon emission removal.
According to the International Energy Agency (IEA), bioenergy with carbon capture and storage, also known as BECCS, involves capturing and permanently storing CO2 from processes where biomass is converted into fuels or directly burned to generate energy. Because plants absorb CO2 as they grow, this is a way of removing CO2 from the atmosphere.
Adds IEA, “Despite increasing awareness around the importance of BECCS for reaching net zero, deployment remains low.”
Watch this video for more information and to learn about the upsides and pitfalls of this method of capturing and storing carbon.