Climate Tech Firms Receive $80 Million to Capture Carbon from Paper Mills and Sewage Plants

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A group of climate-focused companies, including Google, H&M, and Stripe, are set to purchase $80 million worth of carbon credits from companies using innovative technologies to capture carbon emissions. These technologies target two industries: paper mills and municipal sewage treatment plants.

Carbon Capture Technologies in Action

The deals, facilitated by the Frontier coalition, involve the purchase of carbon credits from CO280 and CREW, two firms utilizing oil industry technology and natural processes to remove carbon from the atmosphere.

  • CO280 is using carbon capture and storage (CCS) technology developed by SLB, a major oil field services company, to capture carbon emissions from paper mills. This process captures carbon initially absorbed by trees and emitted during paper production.
  • CREW, a startup from New Haven, Connecticut, employs a limestone-based method to capture carbon from wastewater at municipal sewage plants. By adding carbon-attracting limestone to water, CREW can calculate the amount of CO2 it traps as the water goes through treatment.

Financial Commitments for Carbon Removal

The Frontier coalition, which is composed of major players in the tech and finance sectors, including Google, H&M, and Stripe, aims to support emerging carbon capture technologies by purchasing carbon credits from firms that show promise in reducing atmospheric CO2.

  • The coalition has agreed to pay $48 million for 224,500 metric tons of emissions reductions from CO280, at a cost of $214 per metric ton.
  • Additionally, they will pay $32.1 million for 71,878 metric tons of emissions reductions from CREW, at a higher cost of $447 per ton.

These investments reflect the growing commitment of companies to support climate tech and scale carbon removal technologies, with the hope that costs will decrease over time, eventually making carbon capture more accessible.

A Push for Cost-Effective Carbon Removal

Although carbon removal technologies are still in the early stages, the Frontier coalition is betting on their potential to lower costs to $100 per ton or less in the future. Hannah Bebbington, Head of Deployment at Frontier, emphasized that the deals are part of efforts to retrofit older industries with newer carbon technologies. She expressed excitement about the possibility of scaling these technologies to make carbon removal more cost-effective and impactful.

The growing interest from major tech and finance companies is a signal of confidence in the potential of such technologies, even as the world grapples with the challenges of large-scale carbon emissions reduction.

 

U.S. Finalizes $406 Million Chips Subsidy for Taiwan’s GlobalWafers

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The U.S. Commerce Department announced on Tuesday that it has finalized a $406 million government grant to Taiwan’s GlobalWafers to boost silicon wafer production in the United States. This investment is part of the U.S. government’s broader efforts to strengthen the domestic semiconductor supply chain.

Expansion of U.S. Production

The grant will fund projects in Texas and Missouri, aimed at establishing the first high-volume U.S. production of 300-mm silicon wafers, a critical component for advanced semiconductors. Additionally, the funds will support the expansion of silicon-on-insulator wafers production. These wafers are essential for the manufacture of cutting-edge chips, aligning with the Biden administration’s initiative to enhance the U.S. semiconductor industry.

GlobalWafers plans to invest nearly $4 billion to build new wafer manufacturing facilities in both states. This expansion is expected to create 1,700 construction jobs and 880 manufacturing jobs. The company’s move comes at a time when the U.S. is looking to reduce its dependence on foreign-made chips and strengthen its domestic production capabilities.

Strategic Localization Amid Global Supply Chain Challenges

CEO Doris Hsu of GlobalWafers expressed the strategic importance of localizing production, especially given the current global semiconductor supply chain challenges. She highlighted that local supply in high-demand regions, like the U.S., will be prioritized, as it is more likely to be supported by local customers.

Hsu also acknowledged the potential uncertainties regarding the U.S. CHIPS Act with the incoming Trump administration, which will take office next month. However, she expressed confidence in the continuation of the initiative, noting that the CHIPS Act had its origins during Trump’s first term. While the company is legally protected by contracts, Hsu pointed out that tariffs and potential new policies could still affect the company’s operations and supply chain.

Global Wafer Production and U.S. Investment

GlobalWafers’ decision to invest in the U.S. aligns with its broader strategy to address the growing demand for semiconductors. In 2022, the company announced plans to build a $5 billion plant in Texas to produce 300-mm silicon wafers, a shift from its original plan to invest in Germany.

Currently, five major companies, including GlobalWafers, control over 80% of the global market for 300-mm silicon wafers, with the majority of production still concentrated in East Asia. The company is expanding its presence in the U.S. with a new plant in Sherman, Texas, to manufacture wafers for advanced, mature-node, and memory chips, as well as a new facility in St. Peters, Missouri, to produce wafers for defense and aerospace applications.

Urgency to Finalize CHIPS Act Awards

The U.S. Commerce Department is working swiftly to finalize grants under the CHIPS and Science Act, a semiconductor manufacturing and research subsidy program that was approved in 2022 with a budget of $52.7 billion. The department aims to complete these awards before Trump’s inauguration on January 20.

 

Japan and India Startups Collaborate on Laser-Equipped Satellite for Space Debris Removal

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Startups from Japan and India have announced a partnership to explore the potential of using laser-equipped satellites to address the growing problem of space debris. The collaboration, revealed on Tuesday, involves Orbital Lasers, a Tokyo-based company, and InspeCity, an Indian robotics firm. Their goal is to develop innovative in-space services, including the de-orbiting of defunct satellites and extending the operational lifespan of spacecraft.

Innovative Approach to Space Debris

Orbital Lasers, spun off from the Japanese satellite company SKY Perfect JSAT earlier this year, is working on a technology that uses laser energy to neutralize space junk. The system will vaporize small sections of debris’ surfaces, causing it to stop rotating and making it easier for servicing spacecraft to capture and de-orbit it. The companies aim to test this system in space and make it available for operators after 2027, according to Aditya Baraskar, the global business lead at Orbital Lasers. If regulatory approvals are granted in both India and Japan, the laser system could be mounted on InspeCity’s satellites.

Business Potential and Strategic Collaboration

The partnership was formalized with a preliminary agreement, marking the start of a feasibility study into the commercial potential of these space debris mitigation technologies. InspeCity, founded in 2022, secured $1.5 million in funding last year, while Orbital Lasers has raised 900 million yen (approximately $5.8 million) since its inception in January.

Growing Space Traffic and the Need for Action

The initiative comes as orbital congestion becomes an urgent issue. A United Nations panel on space traffic management highlighted the growing need to track and manage objects in low Earth orbit (LEO) due to the rising number of satellites and space debris. With over 100 companies already involved in space servicing, including satellite constellations and debris mitigation, the market is rapidly expanding. Nobu Okada, CEO of Astroscale, a Japanese leader in debris mitigation, emphasized the necessity of addressing this challenge to ensure the sustainability of space activities.

Expanding India-Japan Space Collaboration

This project represents another milestone in the ongoing India-Japan space collaboration. Both countries are working together on the Lunar Polar Exploration (LUPEX) mission, with a possible launch by 2026. Additionally, Skyroot, an Indian rocket manufacturer, and HEX20, a satellite builder, are collaborating with ispace, a Japanese lunar exploration company, on a lunar orbiter mission.

Strengthening Commercial Ties

The growing commercial ties between Japan and India also reflect efforts to expand space cooperation beyond traditional areas. Masayasu Ishida, CEO of SPACETIDE, a Tokyo-based nonprofit hosting space business conferences, explained that the two countries’ collaborations, such as using Japanese satellite data for India’s disaster management and agriculture, have the potential to broaden into other sectors, including manufacturing. This is in line with India’s “Make in India” initiative, which promotes local production and manufacturing.