Dutch startup picked for $100M wind-powered carbon capture plant in Texas

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p"]},"wordCount":"470","inLanguage":"en-US","articleBody":"Amsterdam-based startup Skytree is set to deploy its carbon-sucking machines on a newly announced carbon capture and storage project in Texas, US.\u00a0\r\n\r\nDubbed \u201cProject Concho,\u201d the $100mn Direct Air Capture (DAC) plant aims to initially vacuum up 30,000 tonnes of carbon from the atmosphere annually, eventually scaling to 500,000 tonnes. This carbon will be permanently stored underground, on site.\u00a0\r\n\r\nThe facility is set to enter operation in 2028, a Skytree representative told TNW via email.\u00a0\u00a0\r\n\r\nProject Concho is masterminded by carbon capture developers Return Carbon, from the Netherlands, and Verified Carbon, from Texas. They will generate revenue from the plant by selling carbon credits to companies looking to offset their emissions. \r\n\r\nThe partners have chosen Skytree to do the carbon vacuum cleaning. Founded in 2014, Skytree\u2019s technology is based on the carbon scrubbers used aboard the International Space Station, which remove the excess CO2 produced from the breath of astronauts.\u00a0\r\n\r\nSkytree makes two machines: Cumulus, for small-scale applications and an industrial-scale machine called Stratus. Project Concho will deploy dozens of these units in unison, to make one single hub.\u00a0\u00a0\u00a0\r\n\r\n\u201cProject Concho is a first-of-its-kind collaboration that opens the door to even more ambitious and transformative carbon removal projects,\u201d said Elena Nikonova, VP of Skytree\u2019s recently opened offices in the US and Canada.\u00a0\r\n\r\nThe developers plan to power the hub using an onsite wind farm, built by Spanish energy firm Greenalia. This would make it the world\u2019s first DAC project fully powered by wind energy, they said.\u00a0\r\nA symbiotic relationship?\r\nProject Concho marks a rare collaboration between a DAC facility and a wind energy provider, but one that could become a blueprint for future facilities.\u00a0\r\n\r\nThe carbon capture plant guarantees it will consistently buy wind energy, giving the wind farm a stable customer and predictable revenue. In return, the DAC plant gets low-cost, renewable energy, which is crucial for reducing the high operational costs of large-scale carbon capture. This agreement also ensures energy price stability and flexibility, making it easier for both partners to plan and grow efficiently.\u00a0\u00a0\r\n\r\nAlexandre Alonso, SVP of Business Development at Greenalia, called this a \u201cgame-changer\u201d for renewable energy projects.\u00a0\r\n\r\nProjecto Concho comes amid a boom in carbon capture projects in the US, partly driven by generous government subsidies. Last month, the Biden-Harris Administration, announced plans to provide up to $1.8bn in funding to support DAC technologies. This builds on the 45Q tax credit laid out in the 2022 Inflation Reduction Act. The incentive provides up to $180 per metric ton of CO2 captured and stored.\r\n\r\n\u201cThe US continues to demonstrate growing demand for proven, cost-effective, scalable DAC technology driven by the needs of industry and with the backing by government,\u201d said Skytree\u2019s CEO Rob van Straten. 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document.getElementsByClassName('tnw-ad-wrapper')[0]?.classList.add('ad-wrapper__growth-quarters'); </script> <div class="o-wrapper mb-4xl" > <article class="c-article js-article mt-m" id="articleOutput" style="margin-top: 0px;" > <div class="c-article__media c-article__growth-mobile"> <figure class="o-media o-media--16:9"> <img alt="Dutch startup picked for $100M wind-powered carbon capture plant in Texas" class="js-lazy c-article__mediaImage w-full absolute top-0" sizes="(max-width: 1023px) 100vw 868px" data-src="https://img-cdn.tnwcdn.com/image?fit=1280%2C720&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=52f1295581565b9f2d7ebb1a6daca3cb" data-srcset="https://img-cdn.tnwcdn.com/image?fit=576%2C324&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=d2369af2e45de082fba2571f529ecd77 576w, https://img-cdn.tnwcdn.com/image?fit=1152%2C648&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=2b920353e4d7536cf012f745fc3268ca 1152w, https://img-cdn.tnwcdn.com/image?fit=1280%2C720&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=52f1295581565b9f2d7ebb1a6daca3cb 1280w" > <noscript> <img alt="Dutch startup picked for $100M wind-powered carbon capture plant in Texas" class="c-article__mediaImage w-full absolute top-0" src="https://img-cdn.tnwcdn.com/image?fit=1280%2C720&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=52f1295581565b9f2d7ebb1a6daca3cb" sizes="(max-width: 1023px) 100vw 868px" srcset="https://img-cdn.tnwcdn.com/image?fit=576%2C324&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=d2369af2e45de082fba2571f529ecd77 576w, https://img-cdn.tnwcdn.com/image?fit=1152%2C648&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=2b920353e4d7536cf012f745fc3268ca 1152w, https://img-cdn.tnwcdn.com/image?fit=1280%2C720&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fskytree-cwind-powered-carbon-capture-plant-texas.jpg&signature=52f1295581565b9f2d7ebb1a6daca3cb 1280w" > </noscript> </figure> </div> <div class="screen-size mobile-screen" style="text-align: center"></div> <script> document.getElementsByClassName('tnw-ad-wrapper')[1]?.classList?.add('ad-wrapper__growth-quarters'); </script> <div class="c-article__main max-lg:mb-xxl"> <div class="c-richText c-richText--large" id="article-main-content"> <p><span style="font-weight: 400;">Amsterdam-based <a href="https://thenextweb.com/topic/startups" target="_blank" rel="noopener">startup</a> Skytree is set to deploy its carbon-sucking machines on a newly announced carbon capture and storage project in Texas, US. </span></p> <p><span style="font-weight: 400;">Dubbed “Project Concho,” the $100mn Direct Air Capture (DAC) plant aims to initially vacuum up 30,000 tonnes of carbon from the atmosphere annually, eventually scaling to 500,000 tonnes. This carbon will be permanently stored underground, on site. </span></p> <p><span style="font-weight: 400;">The facility is set to enter operation in 2028, a Skytree representative told TNW via email. </span></p> <p><span style="font-weight: 400;">Project Concho is masterminded by carbon capture developers Return Carbon, from the Netherlands, and Verified Carbon, from Texas. They will generate revenue from the plant by selling carbon credits to companies looking to offset their emissions. </span></p> <p><span style="font-weight: 400;">The partners have chosen Skytree to do the carbon vacuum cleaning. </span><span style="font-weight: 400;">Founded in 2014, Skytree’s technology is based on the carbon scrubbers used aboard the International Space Station, which remove the excess CO2 produced from the breath of astronauts. </span></p><div class="inarticle-wrapper latest channel-cta hs-embed-tnw"><div id="hs-embed-tnw" class="channel-cta-wrapper"><div class="channel-cta-img"><img class="js-lazy" src="https://s3.eu-west-1.amazonaws.com/tnw.events/hardfork-2018/uploads/visuals/tnw-newsletter.png"></div><noscript><img src="https://s3.eu-west-1.amazonaws.com/tnw.events/hardfork-2018/uploads/visuals/tnw-newsletter.png"></noscript><div class="channel-cta-input"><p class="channel-cta-title">The 💜 of EU tech</p><p class="channel-cta-tagline">The latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!</p><div id="hs-inarticle-embed"><div id="latest-inarticle-embed"></div></div></div></div></div> <p><span style="font-weight: 400;">Skytree makes two machines: Cumulus, for small-scale applications and an industrial-scale machine called Stratus. Project Concho will deploy dozens of these units in unison, to make one single hub. </span></p> <p><span style="font-weight: 400;">“Project Concho is a first-of-its-kind collaboration that opens the door to even more ambitious and transformative carbon removal projects,” said Elena Nikonova, VP of Skytree’s </span><a href="https://thenextweb.com/news/dutch-carbon-capture-startup-skytree-opens-offices-in-us-canada" target="_blank" rel="noopener"><span style="font-weight: 400;">recently opened offices in the US and Canada</span></a><span style="font-weight: 400;">. </span></p> <p><span style="font-weight: 400;">The developers plan to power the hub using an onsite wind farm, built by Spanish energy firm Greenalia. This would make it the world’s first DAC project fully powered by wind energy, they said. </span></p> <h2>A symbiotic relationship?</h2> <p><span style="font-weight: 400;">Project Concho marks a rare collaboration between a DAC facility and a wind energy provider, but one that could become a blueprint for future facilities. </span></p> <p><span style="font-weight: 400;">The carbon capture plant guarantees it will consistently buy wind energy, giving the wind farm a stable customer and predictable revenue. In return, the DAC plant gets low-cost, renewable energy, which is crucial for reducing the high operational costs of large-scale carbon capture. This agreement also ensures energy price stability and flexibility, making it easier for both partners to plan and grow efficiently. </span></p> <p><span style="font-weight: 400;">Alexandre Alonso, SVP of Business Development at Greenalia, called this a “game-changer” for renewable energy projects. </span></p> <p><span style="font-weight: 400;">Projecto Concho comes amid a boom in carbon capture projects in the US, partly driven by generous government subsidies. Last month, the Biden-Harris Administration,</span> <a href="https://c50zc04.na1.hs-sales-engage.com/Ctc/T5+23284/c50Zc04/Jll4YGXpW7Y9pgv6lZ3l_W64Xd3R5377Y-W4B8NJ36WlGMjW6Gm_QT5cGtLZW1LTb_c7jF0bzW3kyYHj4NMSy3W5X8d2q2lSlx8W80rQ7L8djRhmW8cpJ7t156sv-W66wvLc7Hwst2W6sHkmm6t99ZbW18XCQh54HTWrW1T7mxt3Sr-9hW96Hzz55HzmPVW5rj4Fx9hQP74N8pqpzQZz0xfW1J1VNg10GZ_2W7XbyrZ4wnM0_W7nQ6m_1gRdjJVv59xZ2tcfH9W33mN9D4bPmKYW3Vrz344QBwDcW1C0-Bm3GG3ZMW5DXVCN6wq45kW1_1mmk9jF7csW8l0R0C67qVcxW4SmLJk57n5YNW6bP5qJ5y8gt9W4QbxsJ7frBf5Vggwvg7lF4btW2QMWqB1PyDWdW86QWzs8jSjjTW27kZrm7rhM6rW2QmzKg4LPx9ZVx9DYB664nxjW76Hv4Z1jfdxgW4tqCC25DCPr5W5-tJdx1grYNcW14TDs02T65wtVQwncP2rNYTGW1CrWGx5Rpk3jW78hHv-21RFnjW6RxD4b2fs1flf23ffqC04" target="_blank" rel="nofollow noopener"><span style="font-weight: 400;">announced plans</span></a> <span style="font-weight: 400;">to provide up to $1.8bn in funding to support DAC technologies. This builds on the 45Q tax credit laid out in the 2022 Inflation Reduction Act. The incentive provides up to $180 per metric ton of CO2 captured and stored.</span></p> <p><span style="font-weight: 400;">“The US continues to demonstrate growing demand for proven, <span style="background-color: rgba(46, 146, 255, 0.2);">cost-effective</span>, scalable DAC technology driven by the needs of industry and with the backing by government,” said Skytree’s CEO </span><span style="font-weight: 400;">Rob van Straten</span><span style="font-weight: 400;">. </span></p> </div> <aside class="c-contributor latest"> <a href="/author/sion" target="_blank" rel="noopener" data-event-category="Article" data-event-action="Author" data-event-label="Siôn Geschwindt" data-event-non-interaction="false" > <img alt="Siôn Geschwindt" class="c-contributor__photo js-lazy" data-src="https://img-cdn.tnwcdn.com/image/duotone?fit=240%2C240&gradient=%23660099-%2300CCAA&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fheadshot-sion-2.jpg&signature=54baffa26ded259efa3d8f558315df00" > <noscript> <img alt="Siôn Geschwindt" class="c-contributor__photo" src="https://img-cdn.tnwcdn.com/image/duotone?fit=240%2C240&gradient=%23660099-%2300CCAA&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F11%2Fheadshot-sion-2.jpg&signature=54baffa26ded259efa3d8f558315df00" > </noscript> </a> <div aria-label="Author Bio" class="c-contributor__main"> <h2 class="c-contributor__wrapper"> <span class="c-contributor__heading"> Story by </span> <span class="c-contributor__name" > <a href="/author/sion" class="latest"> Siôn Geschwindt </a> </span> </h2> <p class="c-contributor__text"> <input class="c-contributor__expandInput" id="contributorExpandInput123" name="expand" type="checkbox"> <span class="c-contributor__bio c-contributor__bio--truncated"> Siôn is a climate and energy reporter at TNW. From nuclear fusion to escooters, he covers the length and breadth of Europe's clean tech ecos <label class="c-contributor__expand sustainability" for="contributorExpandInput123"> (show all) </label> </span> <span class="c-contributor__bio c-contributor__bio--full"> Siôn is a climate and energy reporter at TNW. From nuclear fusion to escooters, he covers the length and breadth of Europe's clean tech ecosystem. He's happiest sourcing a scoop, investigating the impact of emerging technologies, and even putting them to the test. Siôn has five years journalism experience and holds a dual degree in media and environmental science from the University of Cape Town, South Africa. </span> </p> </div> </aside> <div class="c-channel__cta" id='nl-container'> <h2 class="c-channel__ctaHeading text-dark">Get the TNW newsletter</h2> <p class="c-channel__ctaDescription text-white">Get the most important tech news in your inbox each week.</p> <div id='in-article-newsletter' style="color: #fff"></div> </div> <h2 class="alsoTaggedIn">Also tagged with</h2> <br> <ul class="c-header__tags c-tags c-tags--left"> <li class="c-tags__tag"> <a class="c-tags__link c-article-leadtag" data-event-category="Article" data-event-action="Tags" data-event-label="Startup company" data-event-non-interaction="false" href="/topic/startup" >Startup company</a> </li> </ul> <footer class="c-article__pubDate md:flex md:justify-between"> <div> Published <time datetime="2019-02-11 12:07:00">November 21, 2024 - 1:00 pm UTC</time> </div> <a href="#" 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startup Lighthouse enters unicorn club with $370M raise" /> </noscript> </a> <header class="c-card__header"> <span class="c-card__label"> ecosystems </span> <h3 class="c-card__heading"> <a href="/news/uk-hospitality-startup-lighthouse-enters-unicorn-club-with-370m-raise" tabindex="-1">UK hospitality startup Lighthouse enters unicorn club with $370M raise</a> </h3> </header> </div> </article> </section> </div> </section> </div> </aside> </main> <script> const channelArticlesList = document.getElementById('article_container'); function timeOutWrapper() { document.addEventListener( 'DOMContentLoaded', function() { document.body.classList.remove( 'preload', 'render-canvas' ); } ); function callback( mutationsList, observer ) { mutationsList.forEach( mutation => { if ( mutation.attributeName === 'class' ) { if ( document.body.classList.contains( 'is-canvas' ) ) { channelArticlesList.classList.add( 'render-canvas' ); } } } ); } const mutationObserver = new MutationObserver(callback); 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Dutch startup picked for $100M wind-powered carbon capture plant in Texas