Trace Carbon Solutions

Trace Carbon Solutions is focused on developing Carbon Capture and Sequestration (CCS) infrastructure to enable the decarbonization of an array of large-scale industrial emissions.

Trace Carbon Solutions is a sub-organization of Trace Midstream that develops carbon capture and sequestration (CCS) projects for large-scale industrial emitters. The company provides decarbonization infrastructure to point-source CO2 emitters in petrochemical and manufacturing industries.

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Climate Investment backs Trace Carbon Solutions

Trace Carbon Solutions is a sub-organization of Trace Midstream that develops carbon capture and sequestration (CCS) projects for large-scale industrial emitters. The company provides decarbonization infrastructure to point-source CO2 emitters in petrochemical and manufacturing industries.Trace Carbon Solutions also supports customers in navigating the environmental and regulatory frameworks in CO2 pipeline development. The company provides subsurface characterization and land management expertise to select sequestration sites. Key customers and partnershipsIn September 2023, Trace Carbon Solutions partnered with <a href="https://sp-edge.com/updates/22327">Molpus Woodlands Group</a> to develop a CO2 sequestration hub, including an above-ground ecosystem in Louisiana. Funding and financialsIn <a href="https://sp-edge.com/updates/21455">August 2023</a>, Trace Carbon Solutions received an undisclosed investment from the Quantum Capital Group and Climate Investment (CI), a British decarbonization investor.

Prometheus follows a next-gen electro-chemical-based approach to convert CO2 into carbon-neutral fuel using renewable energy and carbon nanotubes. Industrial fans suck ambient air and blow it across a waterfall that absorbs CO2 and additional water. The electricity “charges” and “energizes” captured carbon with hydrogen molecules from water to create long-chain alcohols. Alcohols are then harvested using a special type of membrane called the Maxwell Core. Its pores are carbon nanotubes, which allow alcohol through while rejecting water. A final catalyst step combines the alcohols and recovers water. The company claims that it is the only one in the world that can separate alcohol from water economically. This step can be customized to produce gasoline, diesel, or jet fuel.In <a href="https://prometheusfuels.com/news/our-finished-commercial-scale-stack-design-unlocks-lowest-cost-fuel">October 2022</a>, Prometheus completed the design of the commercial-scale cell and stack Titan Fuel Forge.Key customers and partnershipsIn June 2019, Prometheus partnered with Boom Supersonic (a company building the world’s fastest supersonic airliner) to supply carbon-neutral fuel for the flight test program of one of its demonstrator aircraft scheduled for 2021. In July 2021, the company entered into a purchase agreement with American Airlines to supply 10 million gallons of carbon-neutral jet fuel.&nbsp;

Prometheus Fuels

UK-based Storegga Geotechnologies (Storegga) provides carbon capture and storage (CCS) solutions for energy-intensive sectors such as petrochemicals, agriculture, and airlines. In July 2020, Storegga acquired Pale Blue Dot Energy (PBDE), through which the company became the lead developer of the Acorn CCS Project (the UK’s first large-scale carbon capture project). In August 2022, Storegga launched a new entity <a href="https://sp-edge.com/updates/11990">“Storegga Americas” </a>to explore clean fuel opportunities and to scale up its operations across the US, Canada, Latin America, and the Caribbean.Key customers and partnershipsIn June 2021, Storegga partnered with Carbon Engineering, a Canadian direct air capture (DAC) startup, to initiate engineering and designing a new facility in North East Scotland, which could remove between 500,000 and one million metric tons of CO2 from the atmosphere annually. The project was backed by a UK government grant of GBP 249,000 received in May 2021. In July 2021, Acorn CCS signed a memorandum of understanding (MoU) with SEGAL and FUKA gas terminals to capture carbon dioxide (CO2) from its operations. The two gas terminals will become the first customers for Acorn CCS. In August 2021, Storegga signed an MoU with Virgin Atlantic to secure the airline as an early customer.&nbsp;In March 2022, Storegga <a href="https://sp-edge.com/updates/9378">partnered</a> with Mitsui to commercialize its proprietary DAC technology. In June 2022, the company signed an MoU with <a href="https://sp-edge.com/updates/11230">Aker Carbon Capture</a> to deploy CCS projects in the UK. Other partners include Sval Energi, Talos Energy, Freeport LNG and <a href="https://sp-edge.com/updates/10230">ScottishPower</a>.In August 2023, Storegga together with Sval Energi, a Norwegian energy provider, and Neptune Energy, a UK-based oil and gas explorer, <a href="https://sp-edge.com/updates/21191">secured</a> their <a href="https://sp-edge.com/updates/16698">previously applied</a> CO2 storage license to develop the Trudvang CCS project in the Norwegian North Sea. In October 2023, the company signed an MOU with <a href="https://sp-edge.com/updates/22815">Svante</a> to develop CCUS projects by combining Svante's carbon capture and removal filter technology and Storegga's CO2 transportation and storage expertise. In <a href="https://sp-edge.com/updates/32814">August 2024</a>, the company partnered with PETRONAS and ADNOC to evaluate offshore CO2 storage capabilities in Malaysia.&nbsp;&nbsp;&nbsp;&nbsp;

Storegga Geotechnologies

Carbfix is an Icelandic carbon sequestration company that stores captured carbon dioxide (CO2) permanently underground. During the pilot phase of Carbfix, findings revealed that over 95% of the injected carbon dioxide mineralized within two years, in contrast to the previous understanding that it would take several hundred or thousands of years. Carbfix began as an academic-industrial research project in 2007 and was established as a subsidiary of Reykjavik Energy (OR), an Icelandic geothermal company, in 2019. Carbfix was spun out of OR in January 2020.As the technology requires vast amounts of water to dissolve carbon dioxide, in June 2021, Carbfix’s technology was validated to be used with seawater—applicable in regions where fresh water is scarce. The use of seawater with Carbfix’s technology is experimental, with a field pilot project scheduled in Iceland for 2022.Key customers and partnershipsIn August 2020, Climeworks, a Swiss company specializing in direct air capture (DAC) technology, along with ON Power, a Swiss geothermal energy provider, signed an agreement with Carbfix to scale up CO2 removal and storage. From September 2021, the new facility, located in Iceland, is expected to remove 4,000 tons of CO2 from the atmosphere per year. In 2017, Climeworks and Carbfix also partnered to operate a small-scale DAC and storage facility of 900 metric tons per year, also in Iceland.In July 2021, Aker Carbon Capture, a Norwegian carbon capture company, signed a memorandum of understanding (MoU) with Carbfix to collaborate on cost-efficient carbon capture and storage solutions. Elkem, a Norwegian environmentally responsible manufacturer of materials, has also partnered with Carbfix to reduce emissions of its alloys plant in Grundartangi, Iceland.In <a href="https://sp-edge.com/updates/21311">August 2023</a>, the company partnered with the University of Edinburgh (UoE) and the Scottish Universities Environmental Research Centre to evaluate CO2 mineralization in Iceland. In <a href="https://sp-edge.com/updates/23535">November 2023</a>, Carbfix injected dissolved CO2 in seawater underground in partnership with the universities of Geneva and Switzerland, Iceland GeoSurvey (ISOR), and University College London.In <a href="https://sp-edge.com/updates/28975">April 2024</a>, Carbfix partnered with Deep Sky, a Canadian carbon removal project developer to explore potential CO2 mineral storage options in Canada.Funding and financialsIn July 2022, Carbfix was awarded a grant of ISK 16 billion (USD 117 million) from the EU Innovation Fund for the deployment of its Code Terminal project (a CO2 transport and storage hub) to capture 3,000,000 tons of CO2 per annum by 2031.

Carbfix

Global Thermostat specializes in Direct Air Capture (DAC) technology to remove carbon dioxide (CO2) from the atmosphere. The company employs a proprietary process using amine-based adsorbents to capture CO2, which is then concentrated for various applications, including storage and conversion into fuels, chemicals, and other products. This technology aims to transform CO2 from a climate liability into a valuable resource, contributing to a circular carbon economy​In <a href="https://sp-edge.com/updates/29707">May 2024</a>, the company was acquired by Zero Carbon Systems, a developer of CO2 removal technologies, for an undisclosed sum.Key customers and partnershipsAs of August 2021, Global Thermostat had two pilot facilities in California and Alabama, each with the capacity to remove 3,000–4,000 metric tons of carbon dioxide per year. Since 2019, Global Thermostat has been in a partnership with ExxonMobil to scale commercially.In April 2023, Global Thermostat unveiled one of the world’s largest DAC units that permanently captures CO2 from the atmosphere. The unit had been under trial since the end of 2022, capturing 1,000 tons of CO2 per annum at the company’s US headquarters in Commerce City, Colorado. The DAC unit launched was a commercial-scale demonstration, with the company taking on pre-orders for DAC systems.In <a href="https://sp-edge.com/updates/26251">February 2024</a>, the company commissioned its first containerized T-Series system for the multi-ton scale DAC, with two microalgae producers, MicroBio Engineering Inc and Cyanotech Corporation, using this system to improve the production of microalgae biomass for renewable fuels in Kailua-Kona, Hawaii.Funding and financialsMost recently in May 2023, the company received an undisclosed investment from Sumitomo Corporation, via its US-based venture arm Presidio Ventures. The two companies had also signed a letter of intent (LoI) to identify and develop CCS projects globally.

Global Thermostat

Remora’s devices capture carbon emissions directly from truck tailpipes. They can be fitted onto tailpipes of existing trucks to capture carbon dioxide (CO2) for 600–1,200 miles before an offload. Remora’s solution was initially funded by the Environmental Protection Agency (EPA) and tested at the agency’s National Vehicle and Fuel Emissions Lab.The company’s technology has a capture efficiency of 80% and can offload the captured CO2 while refueling—to be sold to concrete producers and other end users. The proceeds from the sale of CO2 are expected to be shared across fleet owners and customers once commercialized. Funding and financialsIn February 2024, the company raised an undisclosed amount in a Series A funding round led by Voyager Ventures.&nbsp; Key competitors: None comparable (Remora is the only startup that captures carbon from truck tailpipes)

Remora

Solutions that capture CO2 from flue-gas stacks including both industrial stacks and vehicle tailpipes.

Solutions that capture CO2 from ambient air, including from indoor spaces.

Solutions that “recycle” captured CO2 to produce commercial products other than sustainable fuel, such as proteins, plastics, building materials, etc.

Solutions that permanently store captured CO2 underground.

Solutions that “recycle” captured CO2 to produce sustainable fuels

Recycles captured CO2 emissions to produce sustainable fuels and other products

Trace Carbon Solutions and Molpus Woodlands Group have announced a partnership to develop a carbon capture and sequestration (CCS) hub in Louisiana. The Evergreen Sequestration Hub will combine underground carbon storage with an above-ground ecosystem. Trace will manage the carbon sequestration process, while Molpus will handle the management of the forest spanning 20,000 acres. The hub is expected to have the capacity to store around 250 million metric tons of CO2 and is strategically located near high-emitting industries, reducing transportation costs.

Trace Carbon Solutions

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless