Select your language: EN JP

Lux Take on News: Weekly Round-Up April 15, 2022

Lux Research
April 15, 2022

Every day our researchers read through the top innovation headlines and provide their expert opinions on important developments and industry news. Our analysts then evaluate news based on potential importance ranking the developments from Truly Disruptive to Ignore.

On Fridays we highlight our Lux Take on the top news for the week. Check out our thoughts on the latest emerging technology and innovation news for the past week below. 

Climeworks raises USD 650 million and plans a 40-ktonne/a DAC facility

Mukunda Kaushik, Senior Research Associate, Lux Research

Mukunda Kaushik, Senior Research Associate
Lux Take: Very Important

 

"Climeworks raised USD 650 million in an equity round led by Partners Group and GIC, marking the largest investment in a carbon capture startup by a significant margin. The company plans to use the funding to scale its sorbent-based direct air capture (DAC) technology and set up a facility with 10 times the capacity of its Orca plant in Iceland, scaling from 4 ktonne/a to 40 ktonne/a over the next three years. The location of the new plant is not yet determined, but the availability of low-cost renewable energy and ample sequestration capacity will be key determining factors; so far, Iceland, Norway, and Oman are under consideration. Climeworks currently accounts for approximately 76% of global DAC capacity and only truly faces competition from the Carbon Engineering and Occidental partnership. With its considerable number of customers for DAC-derived credits, the increased capacity will help Climeworks retain market share."

Encina invests USD 1.1 billion in a PP-to-BTX/P facility, but feedstock supply remains a question mark

Marcian Lee, Ph.D., Research Analyst, Lux Research

Marcian Lee, Ph.D., Research Analyst
Lux Take: Very Important

 

"Following USD 55 million of equity capital secured about a month prior, Encina has disclosed plans to sink USD 1.1 billion into a polypropylene (PP)-to-benzene, toluene, xylene, and propylene (BTX/P) facility in Pennsylvania. The facility has a 450,000-tonne/a capacity and is expected to be operational by fall 2024. However, postconsumer PP is currently not collected within the state, and only about 50,000 tonne of PP is recovered annually from postconsumer waste across the U.S. Encina’s development may reinvigorate curbside PP collection within some localities in the U.S., but it will likely still need to build its own feedstock supply chain. Clients with access to postconsumer PP waste streams should engage for feedstock supply opportunities."

MOF Technology launches Nuada, a carbon capture system combining MOFs and vacuum swing adsorption

Mukunda Kaushik, Senior Research Associate, Lux Research

Mukunda Kaushik, Senior Research Associate
Lux Take: Very Important

 

"After a few years of low activity, MOF Technologies debuts Nuada, a modular carbon capture system that combines metal-organic frameworks (MOFs) with vacuum swing adsorption. The main value proposition of the technology is its deviation from incumbent thermochemical desorption; by using pressure instead of heat to separate CO2 from the MOF sorbent, the company claims it can reduce energy consumption by 80% relative to amine-based solvents, thereby reducing capture costs to USD 16/tonne of CO2. While the technology benefits are evident, the company will need to validate cost claims at scale and increase MOF production to metric tons. Clients should monitor MOF Technologies' for upcoming deployments: Having finished prototyping, the company is reportedly working on a pilot."

Download the executive summary of the Lux Foresight 2022 report

Kodiak Robotics and U.S. Xpress complete continuous multi-day autonomous trucking pilot

Anirudh Bhoopalam, Analyst, Lux Research

Anirudh Bhoopalam, Analyst
Lux Take: Very Important

 

"Kodiak and U.S. Xpress are launching a freight service between Dallas-Fort Worth and Atlanta after completing a pilot between the two cities. The pilot involved an autonomous truck (AT) completing four round trips between the cities by running continuously for about five and a half days, covering a total distance of roughly 6,350 miles. Four safety drivers took turns to monitor the truck. Kodiak claims this represents more than a 100% increase in utilization compared to a normal truck due to the 11 hours of service limit. The pilot is the first demonstration of ATs being able to operate around the clock and therefore represents a significant step forward for Kodiak and the AT space. Clients should look out for similar tests from other AT companies."

Canada's 2022 budget allocates CAD 2.6 billion over five years to subsidize carbon capture capital expenditure

Mukunda Kaushik, Senior Research Associate, Lux Research

Mukunda Kaushik, Senior Research Associate
Lux Take: Very Important

 

"Responding to industry demands, the Canadian government introduced tax credits for 2022–2030 set at 60% for investments in direct air capture equipment, 50% for investments in equipment for all other carbon capture, utilization, and storage (CCUS) projects, and 37.5% for investments in CCUS transportation and storage equipment. To incentivize developers to adopt CCUS sooner rather than later, the introduced tax credits will be reduced by 50% between 2031 and 2040. Canada now has one of the highest government-driven incentives for CCUS, and clients should expect significant growth in CCUS capacity in the country, specifically in provinces like Alberta that have concentrated oil and gas activity and additional funding schemes. Specifically, the tax credit for transportation infrastructure can foster industrial clusters that combine CO2 streams from distributed emission sources."

Home Power Solutions partners with German property developer to install residential hydrogen storage system

Juan Cortes, Research Associate, Lux Research

Juan Cortes, Research Associate
Lux Take: Very Important

 

"Home Power Solutions partnered with Hausdorf to deploy Picea, a hydrogen-based electricity storage system, to 12 residential homes in Munich. The houses will be coupled with a brine water heat pump powered by electricity generated from the stored hydrogen via a fuel cell. Alternatively, hybrid heat pumps can be also implemented, in which hydrogen is combusted to supply extra heat required during periods of high electricity demand or shortage. The U.K. and the Netherlands are already considering the implementation of these systems in the near future. This project shows hydrogen’s potential role in decarbonizing the residential sector in northern climates where high energy demands intersect low solar output in the winter months."

Lux Research - Newsletter Research

Bcomp closes USD 35 million Series B with a group of automotive OEM investors and venture capitalists

Varsha Sethuraman_headshot

Varsha Sethuraman, Research Associate
Lux Take: Average Importance

 

"Bcomp has closed its oversubscribed Series B financing round of USD 35 million led by a group of automotive OEM investors including BMW i Ventures, Porsche Ventures, and Volvo Cars Technology Fund AB, besides Airbus Ventures, Generali, and existing shareholders. Bcomp's proprietary technologies — ampliTex and powerRibs — are used to make light and stiff composites that are compatible with thermoplastic and thermoset resins. Bcomp will use the funding to increase its global and domestic production capacity and team expansion. Clients interested in natural fibers and their composites, especially for automotive applications for lightweighting, should engage with Bcomp as it takes the lead in natural fiber technologies."

 

Did you miss the last news round-up? Check out the blog here. Make sure you never miss a headline by subscribing to our newsletter.

Climate Change Isn’t Coming, It's Already Here

Climate Change Isn’t Coming, It's Already Here

Read More
Supercharging the Circular Economy with Digital Technologies Whitepaper

Supercharging the Circular Economy with Digital Technologies Whitepaper

Read More
Press Release: Storms, Floods, Droughts, and Heat Will Disrupt Chemical Industry Production as Climate Change Impact Grows

Press Release: Storms, Floods, Droughts, and Heat Will Disrupt Chemical Industry Production as Climate Change Impact Grows

Read More
More Lux News
Schedule Your Demo