We need to both dramatically cut emissions and offset those that are hard-to-avoid by permanently removing huge amounts of CO2 from the atmosphere. To give us a chance of limiting global warming <1.5C or even <2C means we have to remove ~500-900 bn tonnes of CO₂ from the atmosphere before 2100.
Direct air capture (DAC) is a nascent technology with the potential to play a key role. However, high costs, energy consumption, manufacturability and low tech readiness levels (TRL) have prevented deployment at scale, so far.
Phlair’s first-of-a-kind hydrolyzer-based DAC solution uses off-the-shelf components and is highly compatible with the intermittent nature of renewable sources. This brings the cost of capture below $100/t CO₂ (compared to an average of $341 for first-gen DAC tech), making large-scale deployment financially viable for the first time. Achieving this price point is crucial for outcompeting grey CO₂ pricing and aligning with carbon compliance market rates.
The captured CO2 is used in carbon-neutral/negative products or permanently stored as rock carbonates. This generates high-quality carbon credits customers can buy directly from Phlair to offset emissions.
This team executes fast, achieving technology readiness level (TRL) five, just 18 months after inception. They have developed a strong, diversified, business model including proprietary software sales, technology sales and sales of high-quality carbon credits, with customers including Shopify, Stripe, Klarna and Deep Sky.
Meanwhile, milestone political regulation such as the EU’s Carbon Removal Certification Framework kicking in, makes the market environment incredibly favourable right now.
DAC has a critical role to play in reaching Net Zero in time, according to the latest IPCC report, and Phlair’s technology can deliver CO₂ capture at a scalable price point, for the first time ever. Why does scale matter? To reach targets, we need to capture and store an estimated 6Gt (that’s 6 billion tonnes) by 2040 and >8 Gt per annum by 2050. From today’s rate of 0.04 Gt/ annum. Phlair’s 1 pilot, 1 FOAK and 1 commercial plant, planned to be deployed 2024 – 2029, can (conservatively) cumulatively offer net CO₂ reduction of: ~12 Mt CO₂ by 2048 operated on grid electricity and ~17 Mt CO₂ by 2048 operated on 100% RE electricity.
