Everything Doug Chan said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Climeworks faced premature filter failures during Mammoth's serial production
“The filter element, which is the one that experienced the most design change. We were, while we were testing the prototypes, we actually did see some failures that were earlier than we had expected. And that then comes that decision of, all right, we're also d…”
Chan: Net-negative carbon removal requires permanent storage, not reuse
“There's plenty of storage around the world, and ultimately, if we want to be negative in our CO₂ removal, we need to be storing it and not reusing it. Otherwise, it's just kind of a circular economy there.”
Chan: Scaling direct air capture to billions requires non-recourse debt
“As companies look to get to scale, especially in direct air capture, and once you get to like triple digit, or even triple digit millions, or billions of dollars of capex, debt financing, non-recourse financing is, is ultimately going to be needed.”
Chan: CDR buyers waiting for proven deployment creates a vicious cycle
“So, kind of what we're seeing in the industry at the moment is people are kind of waiting to see that CDR can be deployed before they make the commitments as well. So, it's kind of this vicious cycle.”
Climeworks financed Mammoth on-balance-sheet and exceeded typical FID offtake volumes
“So, we still kept it on balance sheet, and actually by the time we did get it built and running, it being mammoth what your typical numbers you would expect for off-take contracts by FID, we'd, we'd well exceeded that.”
Climeworks kept hardware design in-house while EPC built the facility
“So what we did keep in-house was the design of the core hardware, so those collector units that you see, and then also for the process engineering nerds out there, so the core heat and material balance, the process flow diagram, and the process instrumentation…”
Chan: Cypress DAC Hub won $50M grant, eligible for $600M
“So we were awarded one of the two. I lose track of all the years now, but it was last year and we've received the first phase of that, which is the fifty million, and then further up to six hundred million once we reach the Discrete milestones in our project d…”
Chan: Corporate offtake demand, not project financing, limits DAC scale
“Yeah, the thing that keeps me up most is definitely that first one that you mentioned, the market and the demand because your second one, like you said, the project financing that will come if the demand is there. So, having more businesses beyond those first …”
Chan: Scaling CDR demand requires compliance markets or government procurement
“And then there's that kind of question of like, hey, what would take that step change up to real demand is probably more of a compliance market or governmental demand as well.”
Chan: Climeworks has moved past FOAK to fourth-of-a-kind DAC plants
“A lot of direct air capture is currently in its first of a kind stage, but we do, and Climax has been able to show that now we're past that original folk valley, and now we're up to a fourth of a kind, which is still a folk, but a fourth, and this should reall…”
Chan: Climeworks monetizes DAC through long-term CDR offtake contracts
“So the way that the various technology providers, including ourselves, make money is by selling long-term off-take contracts for the CDR, carbon dioxide removal, that we produce, kind of an ironic way to say you produce CDR, Kind of remove CO₂ and store it in …”
Chan: Climeworks pivoted to storage because carbon utilization could not scale
“And the reason we made that second pivot, To direct air capture and storage is that's really what we needed to be able to scale.”
Climeworks scaled from eight collector containers at Orca to 72 at Mammoth
“So we're going from now eight collector containers to 72, and then within these containers there's filter elements, which went from hundreds to thousands.”
Climeworks deployed field reinforcements while simultaneously designing collector retrofit packages
“We decided to continue with the ones that were already there and essentially deploy a field patch or a field reinforcement to kind of strengthen the failure mode that we had seen, but then in parallel also work on an improved design as well. So that we could t…”