CO2 utilisation or Carbon Capture and Utilisation (CCU) as it is generally called is the transformation of CO2 captured from industry processes or directly from the atmosphere into valuable products such as building materials, fuels or chemical feedstocks.
CCU makes captured CO2 a useful raw material rather than a costly liability. Recycling industrial CO2 emissions which would otherwise be released into the atmosphere both creates new industrial growth opportunities and limits net GHG emissions. This makes CCU part of the emerging circular economy. When CCU technologies combine soon to be cheap and abundant renewable energy with CO2 from captured emissions or the atmosphere we have the prospect of net negative emissions from industry plus the potential to replace CO2 feedstocks derived from fossil fuels.
Market analysis and research, such as a January 2020 report released by the Thunderbird School of Global Management (Arizona State University), continues to indicate that carbon-capture products are capable of developing global market opportunities to the value of US$5 trillion.
CCU is also sometimes called Carbon Capture and Manufacture (CCM) or Carbon-to-Value (C2V). In the US it is often called Carbontech. It complements established Carbon Capture and Storage (CCS) technology. But with CCU CO2 is transformed into products rather than injected into geological reservoirs deep underground as compressed CO2. CCU is not the same as CCUS which is CCS plus Enhanced Oil Recovery (EOR). It is also not geo-engineering or climate engineering.
CO2 Value Australia is a not-for-profit corporation based in Canberra. Its mission is to promote the development and deployment of sustainable industrial solutions which transform captured CO2 into useful products.
The four Directors are:
The objectives of CO2 Value Australia are to be:
CO2 Value Australia members consider CCU is one of a range of technology solutions which will be needed to deal effectively and sustainably with climate change.
CO2 Value Australia considers all climate change mitigation solutions should be assessed on their merits and where effective and appropriate should be supported as no single solution can achieve the reductions in GHG needed in the time available.
CO2 Value Australia seeks to work collegially with other Australian groups involved in climate change solutions and action. CO2 Value Australia also works internationally, particularly in partnership with CO2 Value Europe, the world leading Brussels-based ‘think and do tank’ dedicated to global action on CCU.
CO2 Value Australia members are university researchers, private consultants, new project facilitators, technology start-ups and established industry involved in CCU.
Members share news on developments, relevant programs, project opportunities where and to the extent they choose to do so. Members are also connected with relevant seminars, meetings or conferences.
There are two levels of membership offered to organisations as approved by the Board. Established organisations with ongoing funding pay an annual fee of AUD$10,000 while Start-ups pay a fee of AUD$2,000.