They launched the largest carbon dioxide trap in the world. It stores 4,000 tons of greenhouse gas a year in Iceland

In Iceland, they put into operation the largest facility for the extraction of carbon dioxide from the atmosphere. Every year, the “trap” captures a volume of greenhouse gas comparable to the emissions of almost eight hundred passenger cars.

Swiss technology start-up Climeworks AG has teamed up with Icelandic Carbfix to launch the world’s largest carbon dioxide capture facility. The technological complex, which resembles a power plant, sucks out about four thousand tons of this greenhouse gas a year from the atmosphere, which corresponds to the annual emissions of less than 800 passenger cars.

The captured carbon dioxide is mixed with water and the mixture is then pumped underground. The device, which is called Orca (meaning “energy” in Icelandic), is powered by electricity produced from renewable sources.

There are currently 15 similar facilities in operation around the world, capturing more than 9,000 tonnes of carbon dioxide a year. According to experts, this is the technology of the future, although it is still a drop in the ocean. According to the International Energy Agency, the annual global volume of CO2 emissions is around 31.5 billion tons.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Forbes: CE Industries Owner Strnad to Invest Part of His Companies into Investment Fund

Jaroslav Strnad, owner of CE Industries and Helicopter Alliance...

Coinomi Review: Is This Crypto Wallet Safe or Falling Behind?

Coinomi is one of the longest-running cryptocurrency wallets on...

crypto4me: regulated crypto service brings easy cryptocurrency purchasing within European license

crypto4me – The European cryptocurrency market has undergone significant...

What Is Volatility and Why It Drives Returns

Volatility is one of the most frequently discussed concepts...

What Is a Crypto Airdrop: How Free Token Distribution Works and How to Profit From It

Crypto airdrops have become one of the most talked-about...
spot_img

spot_imgspot_img