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Energy & Green Tech

Canadian Company to Scour Carbon Dioxide from the Skies

The Canadian company Carbon Engineering, formed in 2009 with partial funding from Bill Gates, has developed technology to scrub carbon dioxide from the atmosphere. A pilot plant for capturing the gas will open by the end of 2014, reports The New York Times. While the process is aimed primarily at cleaning up the environment, there may be a profit opportunity as well. The oil industry could purchase captured carbon dioxide to inject into oil fields to help extract additional oil, a widely used procedure that Howard J. Herzog, a senior research engineer at MIT, says poses little environmental risk. As oil becomes scarcer, demand for carbon dioxide will likely increase.   More