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The changing economics of CCS
The business case for CCS is strengthening as costs decline, but deployment must accelerate to align with credible net-zero scenarios
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The Hellisheidi geothermal power plant
Carbon capture Iceland
Stuart Penson
10 May 2024
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Climeworks fires up Mammoth DAC plant

Launch of project powered by geothermal energy in Iceland marks step forward in push to scale up expensive direct-air-capture technology

Switzerland-based carbon management technology firm Climeworks has started up its Mammoth direct air capture (DAC) and storage project in southwest Iceland, which it claims to be the largest plant of its type in the world. At capacity, the project is expected to filter and capture up to 36,000t/yr of CO₂ from the atmosphere. Twelve of its total 72 collector containers have so far been installed, with the rest scheduled to be fitted by the end of 2024. Captured CO₂ will be transported into permanent underground storage by Iceland-based firm Carbfix. Once underground, the CO₂ reacts with basaltic rock through a natural process, which transforms into stone. Climeworks said it verifies and certi

Also in this section
The changing economics of CCS
17 October 2025
The business case for CCS is strengthening as costs decline, but deployment must accelerate to align with credible net-zero scenarios
Gulf Energy Excellence Awards® 2025 winners honoured at Houston gala
17 October 2025
The black-tie gala recognised the energy industry’s leading innovations and thought leaders from across the value chain
Letter from London: Occidental’s oil-led defence of DAC
15 October 2025
Company warns against potential withdrawal of federal funding for emerging technology as it eyes key role for CO₂ in boosting both conventional and shale oil recovery in US
An all-energy stance
9 October 2025
A balanced approach—combining hydrocarbons, renewables and emerging clean technologies—is essential for both energy security and sustainability

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