Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow By: FinancialNewsMedia September 24, 2024 at 11:22 AM EDT Palm Beach, FL – September 24, 2024 – The carbon dioxide removal market has grown rapidly with the developments in the chemical domain. This industry mainly deals with providing solutions for removing C02 from the environment using natural and artificial methods. The C02 removal strategy is mostly integrated into many climate policies, as CO2 is an important element of climate change. CDR includes several methods that are mainly used on land or in aquatic systems. Land-based methods consist of afforestation, reforestation, and other agricultural practices. The water-based methods include ocean alkalinity enhancement, ocean fertilization, wetland restoration, and some blue carbon approaches. There are several products that are used in the CDR process that mainly include Biochar, Direct Air Capture (DAC), Enhanced/Carbon Mineralization, Ocean Alkalinization, BECCS, Microalgae, and some others. The CDR mainly finds applications in the technology and finance sectors. This industry is expected to grow exponentially with the growth in chemical industries. A report from Precedence Research said: “The global carbon dioxide removal market size was USD 638.73 million in 2023, calculated at USD $733.52 million in 2024 and is expected to reach around USD $2,548.29 million by 2033. The market is expanding at a solid CAGR of 14.84% over the forecast period 2024 to 2033. The rising awareness of reducing CO2 emissions across the world is driving the growth of the carbon dioxide removal market.” Active companies in the markets this week include: BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF), Occidental Petroleum Corporation (NYSE: OXY), Arq, Inc. (NASDAQ: ARQ), Gevo, Inc. (NASDAQ: GEVO), Bloom Energy Corporation (NYSE: BE). The Precedence Research report continued saying: “The growing developments in the chemical industry are expected to drive the growth of the carbon dioxide removal market. The rising government initiatives for lowering CO2 emissions have driven the market growth. The increasing demand for clean air across the world fosters market growth. The growing investments from public and private sector entities for developing the carbon dioxide removal industry propels the market growth. The rising awareness of a clean environment among the people boosts the market growth to some extent. Increasing adoption of reforestation across the world is expected to boost market growth. The rise in the number of DAC plants in several countries across the world boosts market growth. The ongoing research and development activities related to CDR methodologies have impacted the carbon dioxide removal market growth positively.” BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) Secures US$105 Million Biochar Sales Agreement – Ten-year contract for agricultural grade soil amendments in Southern USA – BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) (FWB: QE4 /WKN A401NM) (“BluSky” or the “Company”), an innovative entry into the carbon removal clean technology sector is very pleased to announce that it has entered into a sales agreement (“Sales Agreement”) with a U.S. based purchaser (“Purchaser”) pursuant to which the Company has agreed to supply, and the Purchaser has agreed to purchase, up to 382,213 tonnes of biochar over a period of 10 years substantially on the schedule and pricing terms as set forth in the press release issued today. The Agreement sets forth a delivery schedule (see tables 1 to 3 shown in the current press release today) designed to achieve an initial volume of approximately 22,200 short tons within the first year of operation, scaling up to approximately 40,000 tons per year for the remainder of the of the Agreement. Biochar will be supplied on as-is basis. The moisture content will be verified with a Certificate of Analysis (CoA) at delivery. Based upon a negotiated rate of two hundred and seventy-five dollars (US$275) per ton, the sales value under the Agreement is approximately US$105 million. Biochar is black carbon produced from biomass sources (i.e., wood chips, plant residues, manure or other agricultural waste products) for the purpose of transforming the biomass carbon into a more stable form (carbon sequestration). It can persist for long periods of time in the soil at various depths, typically thousands of years. Biochar is produced by heating biomass or waste materials containing carbon through pyrolysis. Pyrolysis involves thermal and chemical decomposition of biomass in limited or zero supply of oxygen, typically at temperatures ranging from 300°C to 1000°C. Biochar can be used as a soil amendment to improve soil physical and chemical properties, enhance water retention, and sequester carbon. It also contributes to climate change mitigation by stabilizing carbon in soils for thousands of years, preventing it from being released as carbon dioxide into the atmosphere. Biochar has shown promise in increasing crop yields, improving soil fertility, and reducing environmental pollution through its ability to retain nutrients and minimize greenhouse gas emissions. The Company notes that its ability to meet scheduled delivery of biochar beyond year 1 is conditional upon its commissioning and receiving an additional two (2) Vulcan Heavy biomass pyrolysis systems (Vulcan Heavy). The Company anticipates that each Vulcan Heavy will cost approximately US$3 million and take up to nine months to be manufactured and delivered to the job site. BluSky’s ability to commission any Vulcan Heavy will be contingent on its ability to secure financing on acceptable terms, and no assurance can be given this will occur. At present, the Company believes that it will have the ability to produce 15,000 tons annually (with a sales value of approximately US$4 million under the Agreement) once it completes the build out of its “Kiloplex” facility, including testing and optimization of its Vulcan Heavy system. CONTINUED… Read this full press release and more news for BluSky Carbon at: https://bluskycarbon.com/news/ Other recent developments in the markets of note include: 1PointFive, a wholly owned subsidiary of Occidental Petroleum Corporation (NYSE: OXY), announced recently that the U.S. Department of Energy’s Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub. The award is a milestone in furthering commercial-scale DAC in the United States and validation of Occidental and 1PointFive’s ability to use their decades-long expertise in carbon management to accelerate the vital climate technology. The funding will be provided in multiple tranches. The initial award of $50 million will advance 1PointFive’s ongoing work at the South Texas DAC Hub. Upcoming activities include engineering, permitting, the procurement of long-lead equipment and continued community engagement to further 1PointFive’s community benefits plan. The total award value for the South Texas DAC Hub is expected to be up to $500 million for the initial DAC facility at the site, and potentially increased up to $650 million for the development of an expanded regional carbon network in South Texas. Arq, Inc. (NASDAQ: ARQ), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, recently announced the pricing of an underwritten public offering of 4,770,000 shares of its common stock, par value $0.001 per share (“common stock”), at a price to the public of $5.25 per share. All of the shares in the offering are being sold by Arq. The gross proceeds to Arq from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $25 million. The offering is expected to close on or about September 23, 2024, subject to customary closing conditions. In addition, Arq has granted the underwriters a 30-day option to purchase up to an additional 715,500 shares of its common stock in the underwritten public offering. Arq intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, capital expenditures, including continued construction of granular activated carbon facilities at Arq’s Red River and Corbin manufacturing facilities located in Coushatta, Louisiana and Corbin, Kentucky, respectively, research and development expenditures, commercial expenditures, debt service costs and repayment, acquisitions of new technologies, products or businesses, and investments. Gevo, Inc. (NASDAQ: GEVO) recently announced the sale of approximately $20 million in Investment Tax Credits to an undisclosed corporate buyer. This transaction monetizes Inflation Reduction Act (“IRA”) Investment Tax Credits generated from the commercialization of a renewable natural gas (“RNG”) production facility by Gevo NW Iowa RNG, LLC (“Gevo RNG”) and provides net cash proceeds of approximately $17 million to Gevo after transaction fees. The Gevo RNG asset has been optimized to produce approximately 400,000 MMBtus of RNG per year, and Gevo expects to further increase production over time. Additional RNG value could be unlocked through the monetization of Section 45Z Clean Fuel Production Credits under the IRA, once those rules are defined. Bloom Energy Corporation (NYSE: BE) recently in response to market commentary regarding the results of the recent Korea Hydrogen Portfolio Standard auction, Bloom said it expects shipment volumes to Korea to be similar in 2024 and the coming years to what they have been in recent years. As disclosed previously, we continue to expect our partner SK ecoplant Co., Ltd. to purchase 500MW of Bloom solid oxide fuel cells between January 1, 2024 and December 31, 2027. Bloom is the proven leader in solid oxide fuel cell technology, having demonstrated 60% electrical efficiency using hydrogen, and 90% combined heat and power efficiency. Bloom remains fully confident in our partners in Korea, and in the ability for Bloom fuel cells to be transformative to the Korean energy market. The public auction is just one mechanism for the sale of our energy servers into the Korean market. Our partners have other development projects in addition to those emanating from the auction. About FN Media Group: At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/ DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty three hundred dollars for news coverage of the current press releases issued by BluSky Carbon Inc. by the company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements. Contact Information: Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 SOURCE: FN Media Group, LLC. The post Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow appeared first on Financial News Media. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow By: FinancialNewsMedia September 24, 2024 at 11:22 AM EDT Palm Beach, FL – September 24, 2024 – The carbon dioxide removal market has grown rapidly with the developments in the chemical domain. This industry mainly deals with providing solutions for removing C02 from the environment using natural and artificial methods. The C02 removal strategy is mostly integrated into many climate policies, as CO2 is an important element of climate change. CDR includes several methods that are mainly used on land or in aquatic systems. Land-based methods consist of afforestation, reforestation, and other agricultural practices. The water-based methods include ocean alkalinity enhancement, ocean fertilization, wetland restoration, and some blue carbon approaches. There are several products that are used in the CDR process that mainly include Biochar, Direct Air Capture (DAC), Enhanced/Carbon Mineralization, Ocean Alkalinization, BECCS, Microalgae, and some others. The CDR mainly finds applications in the technology and finance sectors. This industry is expected to grow exponentially with the growth in chemical industries. A report from Precedence Research said: “The global carbon dioxide removal market size was USD 638.73 million in 2023, calculated at USD $733.52 million in 2024 and is expected to reach around USD $2,548.29 million by 2033. The market is expanding at a solid CAGR of 14.84% over the forecast period 2024 to 2033. The rising awareness of reducing CO2 emissions across the world is driving the growth of the carbon dioxide removal market.” Active companies in the markets this week include: BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF), Occidental Petroleum Corporation (NYSE: OXY), Arq, Inc. (NASDAQ: ARQ), Gevo, Inc. (NASDAQ: GEVO), Bloom Energy Corporation (NYSE: BE). The Precedence Research report continued saying: “The growing developments in the chemical industry are expected to drive the growth of the carbon dioxide removal market. The rising government initiatives for lowering CO2 emissions have driven the market growth. The increasing demand for clean air across the world fosters market growth. The growing investments from public and private sector entities for developing the carbon dioxide removal industry propels the market growth. The rising awareness of a clean environment among the people boosts the market growth to some extent. Increasing adoption of reforestation across the world is expected to boost market growth. The rise in the number of DAC plants in several countries across the world boosts market growth. The ongoing research and development activities related to CDR methodologies have impacted the carbon dioxide removal market growth positively.” BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) Secures US$105 Million Biochar Sales Agreement – Ten-year contract for agricultural grade soil amendments in Southern USA – BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) (FWB: QE4 /WKN A401NM) (“BluSky” or the “Company”), an innovative entry into the carbon removal clean technology sector is very pleased to announce that it has entered into a sales agreement (“Sales Agreement”) with a U.S. based purchaser (“Purchaser”) pursuant to which the Company has agreed to supply, and the Purchaser has agreed to purchase, up to 382,213 tonnes of biochar over a period of 10 years substantially on the schedule and pricing terms as set forth in the press release issued today. The Agreement sets forth a delivery schedule (see tables 1 to 3 shown in the current press release today) designed to achieve an initial volume of approximately 22,200 short tons within the first year of operation, scaling up to approximately 40,000 tons per year for the remainder of the of the Agreement. Biochar will be supplied on as-is basis. The moisture content will be verified with a Certificate of Analysis (CoA) at delivery. Based upon a negotiated rate of two hundred and seventy-five dollars (US$275) per ton, the sales value under the Agreement is approximately US$105 million. Biochar is black carbon produced from biomass sources (i.e., wood chips, plant residues, manure or other agricultural waste products) for the purpose of transforming the biomass carbon into a more stable form (carbon sequestration). It can persist for long periods of time in the soil at various depths, typically thousands of years. Biochar is produced by heating biomass or waste materials containing carbon through pyrolysis. Pyrolysis involves thermal and chemical decomposition of biomass in limited or zero supply of oxygen, typically at temperatures ranging from 300°C to 1000°C. Biochar can be used as a soil amendment to improve soil physical and chemical properties, enhance water retention, and sequester carbon. It also contributes to climate change mitigation by stabilizing carbon in soils for thousands of years, preventing it from being released as carbon dioxide into the atmosphere. Biochar has shown promise in increasing crop yields, improving soil fertility, and reducing environmental pollution through its ability to retain nutrients and minimize greenhouse gas emissions. The Company notes that its ability to meet scheduled delivery of biochar beyond year 1 is conditional upon its commissioning and receiving an additional two (2) Vulcan Heavy biomass pyrolysis systems (Vulcan Heavy). The Company anticipates that each Vulcan Heavy will cost approximately US$3 million and take up to nine months to be manufactured and delivered to the job site. BluSky’s ability to commission any Vulcan Heavy will be contingent on its ability to secure financing on acceptable terms, and no assurance can be given this will occur. At present, the Company believes that it will have the ability to produce 15,000 tons annually (with a sales value of approximately US$4 million under the Agreement) once it completes the build out of its “Kiloplex” facility, including testing and optimization of its Vulcan Heavy system. CONTINUED… Read this full press release and more news for BluSky Carbon at: https://bluskycarbon.com/news/ Other recent developments in the markets of note include: 1PointFive, a wholly owned subsidiary of Occidental Petroleum Corporation (NYSE: OXY), announced recently that the U.S. Department of Energy’s Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub. The award is a milestone in furthering commercial-scale DAC in the United States and validation of Occidental and 1PointFive’s ability to use their decades-long expertise in carbon management to accelerate the vital climate technology. The funding will be provided in multiple tranches. The initial award of $50 million will advance 1PointFive’s ongoing work at the South Texas DAC Hub. Upcoming activities include engineering, permitting, the procurement of long-lead equipment and continued community engagement to further 1PointFive’s community benefits plan. The total award value for the South Texas DAC Hub is expected to be up to $500 million for the initial DAC facility at the site, and potentially increased up to $650 million for the development of an expanded regional carbon network in South Texas. Arq, Inc. (NASDAQ: ARQ), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, recently announced the pricing of an underwritten public offering of 4,770,000 shares of its common stock, par value $0.001 per share (“common stock”), at a price to the public of $5.25 per share. All of the shares in the offering are being sold by Arq. The gross proceeds to Arq from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $25 million. The offering is expected to close on or about September 23, 2024, subject to customary closing conditions. In addition, Arq has granted the underwriters a 30-day option to purchase up to an additional 715,500 shares of its common stock in the underwritten public offering. Arq intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, capital expenditures, including continued construction of granular activated carbon facilities at Arq’s Red River and Corbin manufacturing facilities located in Coushatta, Louisiana and Corbin, Kentucky, respectively, research and development expenditures, commercial expenditures, debt service costs and repayment, acquisitions of new technologies, products or businesses, and investments. Gevo, Inc. (NASDAQ: GEVO) recently announced the sale of approximately $20 million in Investment Tax Credits to an undisclosed corporate buyer. This transaction monetizes Inflation Reduction Act (“IRA”) Investment Tax Credits generated from the commercialization of a renewable natural gas (“RNG”) production facility by Gevo NW Iowa RNG, LLC (“Gevo RNG”) and provides net cash proceeds of approximately $17 million to Gevo after transaction fees. The Gevo RNG asset has been optimized to produce approximately 400,000 MMBtus of RNG per year, and Gevo expects to further increase production over time. Additional RNG value could be unlocked through the monetization of Section 45Z Clean Fuel Production Credits under the IRA, once those rules are defined. Bloom Energy Corporation (NYSE: BE) recently in response to market commentary regarding the results of the recent Korea Hydrogen Portfolio Standard auction, Bloom said it expects shipment volumes to Korea to be similar in 2024 and the coming years to what they have been in recent years. As disclosed previously, we continue to expect our partner SK ecoplant Co., Ltd. to purchase 500MW of Bloom solid oxide fuel cells between January 1, 2024 and December 31, 2027. Bloom is the proven leader in solid oxide fuel cell technology, having demonstrated 60% electrical efficiency using hydrogen, and 90% combined heat and power efficiency. Bloom remains fully confident in our partners in Korea, and in the ability for Bloom fuel cells to be transformative to the Korean energy market. The public auction is just one mechanism for the sale of our energy servers into the Korean market. Our partners have other development projects in addition to those emanating from the auction. About FN Media Group: At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/ DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty three hundred dollars for news coverage of the current press releases issued by BluSky Carbon Inc. by the company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements. Contact Information: Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 SOURCE: FN Media Group, LLC. The post Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow appeared first on Financial News Media.
Palm Beach, FL – September 24, 2024 – The carbon dioxide removal market has grown rapidly with the developments in the chemical domain. This industry mainly deals with providing solutions for removing C02 from the environment using natural and artificial methods. The C02 removal strategy is mostly integrated into many climate policies, as CO2 is an important element of climate change. CDR includes several methods that are mainly used on land or in aquatic systems. Land-based methods consist of afforestation, reforestation, and other agricultural practices. The water-based methods include ocean alkalinity enhancement, ocean fertilization, wetland restoration, and some blue carbon approaches. There are several products that are used in the CDR process that mainly include Biochar, Direct Air Capture (DAC), Enhanced/Carbon Mineralization, Ocean Alkalinization, BECCS, Microalgae, and some others. The CDR mainly finds applications in the technology and finance sectors. This industry is expected to grow exponentially with the growth in chemical industries. A report from Precedence Research said: “The global carbon dioxide removal market size was USD 638.73 million in 2023, calculated at USD $733.52 million in 2024 and is expected to reach around USD $2,548.29 million by 2033. The market is expanding at a solid CAGR of 14.84% over the forecast period 2024 to 2033. The rising awareness of reducing CO2 emissions across the world is driving the growth of the carbon dioxide removal market.” Active companies in the markets this week include: BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF), Occidental Petroleum Corporation (NYSE: OXY), Arq, Inc. (NASDAQ: ARQ), Gevo, Inc. (NASDAQ: GEVO), Bloom Energy Corporation (NYSE: BE). The Precedence Research report continued saying: “The growing developments in the chemical industry are expected to drive the growth of the carbon dioxide removal market. The rising government initiatives for lowering CO2 emissions have driven the market growth. The increasing demand for clean air across the world fosters market growth. The growing investments from public and private sector entities for developing the carbon dioxide removal industry propels the market growth. The rising awareness of a clean environment among the people boosts the market growth to some extent. Increasing adoption of reforestation across the world is expected to boost market growth. The rise in the number of DAC plants in several countries across the world boosts market growth. The ongoing research and development activities related to CDR methodologies have impacted the carbon dioxide removal market growth positively.” BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) Secures US$105 Million Biochar Sales Agreement – Ten-year contract for agricultural grade soil amendments in Southern USA – BluSky Carbon Inc. (CSE: BSKY) (OTCQB: BSKCF) (FWB: QE4 /WKN A401NM) (“BluSky” or the “Company”), an innovative entry into the carbon removal clean technology sector is very pleased to announce that it has entered into a sales agreement (“Sales Agreement”) with a U.S. based purchaser (“Purchaser”) pursuant to which the Company has agreed to supply, and the Purchaser has agreed to purchase, up to 382,213 tonnes of biochar over a period of 10 years substantially on the schedule and pricing terms as set forth in the press release issued today. The Agreement sets forth a delivery schedule (see tables 1 to 3 shown in the current press release today) designed to achieve an initial volume of approximately 22,200 short tons within the first year of operation, scaling up to approximately 40,000 tons per year for the remainder of the of the Agreement. Biochar will be supplied on as-is basis. The moisture content will be verified with a Certificate of Analysis (CoA) at delivery. Based upon a negotiated rate of two hundred and seventy-five dollars (US$275) per ton, the sales value under the Agreement is approximately US$105 million. Biochar is black carbon produced from biomass sources (i.e., wood chips, plant residues, manure or other agricultural waste products) for the purpose of transforming the biomass carbon into a more stable form (carbon sequestration). It can persist for long periods of time in the soil at various depths, typically thousands of years. Biochar is produced by heating biomass or waste materials containing carbon through pyrolysis. Pyrolysis involves thermal and chemical decomposition of biomass in limited or zero supply of oxygen, typically at temperatures ranging from 300°C to 1000°C. Biochar can be used as a soil amendment to improve soil physical and chemical properties, enhance water retention, and sequester carbon. It also contributes to climate change mitigation by stabilizing carbon in soils for thousands of years, preventing it from being released as carbon dioxide into the atmosphere. Biochar has shown promise in increasing crop yields, improving soil fertility, and reducing environmental pollution through its ability to retain nutrients and minimize greenhouse gas emissions. The Company notes that its ability to meet scheduled delivery of biochar beyond year 1 is conditional upon its commissioning and receiving an additional two (2) Vulcan Heavy biomass pyrolysis systems (Vulcan Heavy). The Company anticipates that each Vulcan Heavy will cost approximately US$3 million and take up to nine months to be manufactured and delivered to the job site. BluSky’s ability to commission any Vulcan Heavy will be contingent on its ability to secure financing on acceptable terms, and no assurance can be given this will occur. At present, the Company believes that it will have the ability to produce 15,000 tons annually (with a sales value of approximately US$4 million under the Agreement) once it completes the build out of its “Kiloplex” facility, including testing and optimization of its Vulcan Heavy system. CONTINUED… Read this full press release and more news for BluSky Carbon at: https://bluskycarbon.com/news/ Other recent developments in the markets of note include: 1PointFive, a wholly owned subsidiary of Occidental Petroleum Corporation (NYSE: OXY), announced recently that the U.S. Department of Energy’s Office of Clean Energy Demonstrations (OCED) will provide up to $500 million to support the development of the South Texas Direct Air Capture (DAC) Hub. The award is a milestone in furthering commercial-scale DAC in the United States and validation of Occidental and 1PointFive’s ability to use their decades-long expertise in carbon management to accelerate the vital climate technology. The funding will be provided in multiple tranches. The initial award of $50 million will advance 1PointFive’s ongoing work at the South Texas DAC Hub. Upcoming activities include engineering, permitting, the procurement of long-lead equipment and continued community engagement to further 1PointFive’s community benefits plan. The total award value for the South Texas DAC Hub is expected to be up to $500 million for the initial DAC facility at the site, and potentially increased up to $650 million for the development of an expanded regional carbon network in South Texas. Arq, Inc. (NASDAQ: ARQ), a producer of activated carbon and other environmentally efficient carbon products for use in purification and sustainable materials, recently announced the pricing of an underwritten public offering of 4,770,000 shares of its common stock, par value $0.001 per share (“common stock”), at a price to the public of $5.25 per share. All of the shares in the offering are being sold by Arq. The gross proceeds to Arq from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately $25 million. The offering is expected to close on or about September 23, 2024, subject to customary closing conditions. In addition, Arq has granted the underwriters a 30-day option to purchase up to an additional 715,500 shares of its common stock in the underwritten public offering. Arq intends to use the net proceeds from this offering for general corporate purposes, which may include working capital, capital expenditures, including continued construction of granular activated carbon facilities at Arq’s Red River and Corbin manufacturing facilities located in Coushatta, Louisiana and Corbin, Kentucky, respectively, research and development expenditures, commercial expenditures, debt service costs and repayment, acquisitions of new technologies, products or businesses, and investments. Gevo, Inc. (NASDAQ: GEVO) recently announced the sale of approximately $20 million in Investment Tax Credits to an undisclosed corporate buyer. This transaction monetizes Inflation Reduction Act (“IRA”) Investment Tax Credits generated from the commercialization of a renewable natural gas (“RNG”) production facility by Gevo NW Iowa RNG, LLC (“Gevo RNG”) and provides net cash proceeds of approximately $17 million to Gevo after transaction fees. The Gevo RNG asset has been optimized to produce approximately 400,000 MMBtus of RNG per year, and Gevo expects to further increase production over time. Additional RNG value could be unlocked through the monetization of Section 45Z Clean Fuel Production Credits under the IRA, once those rules are defined. Bloom Energy Corporation (NYSE: BE) recently in response to market commentary regarding the results of the recent Korea Hydrogen Portfolio Standard auction, Bloom said it expects shipment volumes to Korea to be similar in 2024 and the coming years to what they have been in recent years. As disclosed previously, we continue to expect our partner SK ecoplant Co., Ltd. to purchase 500MW of Bloom solid oxide fuel cells between January 1, 2024 and December 31, 2027. Bloom is the proven leader in solid oxide fuel cell technology, having demonstrated 60% electrical efficiency using hydrogen, and 90% combined heat and power efficiency. Bloom remains fully confident in our partners in Korea, and in the ability for Bloom fuel cells to be transformative to the Korean energy market. The public auction is just one mechanism for the sale of our energy servers into the Korean market. Our partners have other development projects in addition to those emanating from the auction. About FN Media Group: At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/ DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty three hundred dollars for news coverage of the current press releases issued by BluSky Carbon Inc. by the company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements. Contact Information: Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 SOURCE: FN Media Group, LLC. The post Global Carbon Dioxide Removal Market Size Expected to Reach $2.54 Billion By 2033 as Climate Change Concerns Grow appeared first on Financial News Media.
