More firms are now investing in carbon capture technology. To battle climate change, firms are experimenting with new technological solutions, including ‘direct air capture’ of emissions. In Iceland, Carbfix is collaborating with Climeworks to build a site which collects carbon dioxide from the air and turns it into stone deep underground. While this could be effective in reducing climate change, concerns have been raised about the expensive cost of the operation. On a barren hillside in southwest Iceland, workers are installing huge fans to suck carbon dioxide from the air and turn it to stone deep below ground, in a radical – but expensive – way to fight global warming. Engineering fixes for climate change are gaining attention and investments in 2021 as companies such as Microsoft and leaders from China, the United States and the European Union work on long-term plans to achieve “net zero” emissions goals. Elon Musk, chief of Tesla Inc and a billionaire entrepreneur, said in January he would give a $100 million prize for the best “technology for capturing carbon”. Swiss firm Climeworks , which is building the Icelandic site with Carbfix , a unit of Reykjavik Energy, says every technological fix is needed […]


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