Climeworks CFO Andreas Apley explains industrial realities discovered during 24/7 commercial operations at the Orca direct air capture plant in Iceland.
0:00 / 0:34exact quote · 34.8s
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“The sensitivity of the sequestration on the purity of the CO two and your ability to deliver that purity, 24, seven with all the things that happen in this type of production environment, you have to deliver really, really pure CO two doesn't really matter on the sequestration method, but it needs to be super pure. And if you don't have downstream a process to deal To upgrade that purity, to deal with a high range of fluctuations, then you might need to dump the CO two that you've already captured because it doesn't fulfill the quality requirements.”
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More from Andreas Apley
PredictionNot checkable as stated
Apley: DAC market will be increasingly supply-constrained for 2030 and 2035
“If people are trying to secure the volumes for 2030, 30 or 20, 35, when they potentially want to actually fulfill their net zero ambitions, then I clearly see this will become more and more supply constraint.”
Andreas ApleyOct 3, 2024▶ 40:42DAC’s bumpy road to commercial scale
Disclosure
Apley: Orca runs at 2,500 to 3,000 tons after 2.5 years
“We can reach now a performance of around two and a half thousand to 3000 tons of run rate. And that took us About two and a half years to get there.”
Andreas ApleyOct 3, 2024▶ 17:32DAC’s bumpy road to commercial scale
Opinion
Climeworks CFO: DAC startups risk destroying industry trust through overpromising
“What we're worried about is what's going to happen if people are not transparent about the challenges is that, that people will lose face at some point, you know, when they say, well, this is just an industry that makes a lot of promises, but doesn't really ke…”
Andreas ApleyOct 3, 2024▶ 19:13DAC’s bumpy road to commercial scale
Disclosure
Climeworks has signed direct air capture offtake contracts up to 15 years
“We've worked really hard over the last, I would say, four years to move the market to something that will actually work for project finance. In terms of offtake. So that means long duration contracts, right, over five years plus ideally 10 years or 15 years, l…”
Andreas ApleyOct 3, 2024▶ 27:27DAC’s bumpy road to commercial scale
AssertionNot checkable as stated
Apley: Very few carbon removal intermediaries can sign offtakes beyond 2030
“A lot of the intermediaries today in the market, they don't have the balance sheet of a Microsoft or JP Morgan. So, so not all of them are really credit worthy of worthy off takers over a period of 1015 years. And many of them come from an environment where th…”
Andreas ApleyOct 3, 2024▶ 32:51DAC’s bumpy road to commercial scale
PredictionNot checkable as stated
Apley: Some DAC startups might fail due to unrealistic promises
“I think at the moment there might be a little bit too many unrealistic promises in the market, and that might also mean that some of the companies will not make it to that next stage.”
Andreas ApleyOct 3, 2024▶ 38:04DAC’s bumpy road to commercial scale
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