Swiss startup Climeworks plans to work with a fossil fuel company for the first time.
” That’s essentially just plain old polluting oil that’s been extracted with the help of CO2, which companies can shoot into depleting oil fields to push out hard-to-reach reserves.It’s a process called enhanced oil recovery , and Climeworks says it refuses to use its technology for that purpose. Even so, Climeworks isn’t ruling out partnerships with oil and gas companies when it comes to finding other ways to store the CO2 it captures.
“That’s what oil and gas can do really well,” Beuttler says. “They know the underground, they know the geologic subsurface and therefore they are a great storage partner.” DAC companies typically have to find partners to handle the storage side of things. In Iceland, Climeworks partners with a startup called Carbfix, which grew out of a joint research project between universities and a geothermal utility company.
In California, Climeworks plans to work with a subsidiary of an oil and gas company called California Resources Corporation . Together, they want to build California’s— a place pockmarked with oil and gas wells. There, the CO2 could be stored in depleted reservoirs. Kern County has historically been one of the nation’s top oil producing counties. It’s also home to CRC’s flagship gas operation. But oil and gas permitting there was
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