Increased use of CO2, CO and unconventional carbon sources as new feedstock will only be possible if the processes are economically viable. Currently, most CO2 and CO conversion processes for the chemical industry are not yet viable, but this could change rapidly when the Paris Agreement is translated into real, effective policies. In order to prepare for this change, industry is assessing the different possibilities aiming to find the best business cases with lower CO2 emissions. Utilizing CO2 and CO is one of the potential solutions for the chemical industry to reduce CO2 emissions and become less dependent on fossil inputs.
As part of this work stream, the CarbonNext project aims to support these developments by identifying and describing potential business models to be used in selected value chains. The project will therefor provide insights regarding the main economic drivers for these business cases including:
• The cost of emitting and capturing CO2 and CO
• The availability and cost of fossil carbon sources
• The cost of energy (for the conversion process and as an alternative use of CO)
• The logistical link – and its cost implications – between source of emission and the point of conversion
• The (cost-) efficiency of the chemical conversion processes
Overall, the project will explore different future scenarios that enable these new business models for increased use of CO2/CO as feedstock in the process industry.
This project has received funding from the European Union’s Horizon 2020 Programme for research, technological development and demonstration under grant agreement No 723678