(ORDO NEWS) — Billionaire Bill Gates has invested in technology to remove carbon dioxide from the atmosphere.
American billionaire Bill Gates will help clean the air of carbon. His venture capital fund Breakthrough Energy Ventures has invested in the young company Verdox, which has developed technology to remove carbon dioxide from the planet’s atmosphere. It is reported by Bloomberg.
Founded in 2019, Verdox has raised $80 million from various investors. In addition to Breakthrough Energy Ventures, the recent funding round included Prelude Ventures and Lowercarbon Capital.
So far, the company’s research is carried out only in the laboratory, but investors still decided to invest now. They were convinced by the company’s recent breakthrough in developing a key material used to capture carbon dioxide in the atmosphere.
Gas capture is the process of extracting CO2 from the air. In most modern technologies, this is done by liquid solvents, which attract gas in the same way that a magnet attracts iron.
As soon as the liquid captures the gas, it is heated to a temperature that allows the release of CO2. It can then be compressed and pumped deep underground for permanent storage. However, these technologies are very expensive.
Verdox offered a cheaper approach. She has developed a special kind of plastic that can draw CO2 out of a mixture of gases by applying an electric current.
The company noted that their method could cut the total amount of energy used in capturing the gas by 70 percent or more.
It will take years to develop the Verdox technology for commercial use. However, the company has already noted that they plan to capture carbon at a price of $50 per ton, which is a very attractive amount.
In 2016, 175 countries signed the Paris Agreement, under which they pledged to limit the rise in Earth‘s temperature to 1.5 degrees Celsius above pre-industrial levels.
To achieve this goal, states will have to achieve zero emissions of greenhouse gases into the atmosphere.
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