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Air Capture & Carbon Negative Technology Economics & Engineering Graciela Chichilnisky -- www.chichilnisky.com Columbia University and Global Thermostat.

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Presentation on theme: "Air Capture & Carbon Negative Technology Economics & Engineering Graciela Chichilnisky -- www.chichilnisky.com Columbia University and Global Thermostat."— Presentation transcript:

1 Air Capture & Carbon Negative Technology Economics & Engineering Graciela Chichilnisky -- Columbia University and Global Thermostat – Cambridge University October

2 A Human Dominated World Human Beings are today the largest geological force in the planet We are changing the planets atmosphere, its body of waters, and the complex web of species that makes life on earth Climate Change?

3 The Anthropocene The change we are producing will be read in rock formations for thousands of years Geologists define a new geological era - the Anthropocene – follows the Holocene – starting 1945 The Bretton Woods Institutions after WWII led to Globalization of Western Economics

4 Global Risks Climate Change Biodiversity Extinction Clean Water scarcity Life in the Seas going extinct Avoiding Extinction

5 Are Humans Next? Need Action Now Waited too long Industrial economies 20% of world population cause most of worlds C02 emissions – the North Energy from fossil fuels 45% of global emissions $55 Trillion Infrastructure 89% based on fossil fuels (IEA) Clean Energy is the Only Solution

6 6 Columbia Consortium for Risk Management (CCRM) Sources: Earthtrends Database of the World Resource Institute (WRI)

7 The North and the South Since 2000, developing nations that did not yet complete their industrialization are the engine of growth of the world economy – the South Developing nations are for the first time the largest growth sector in the world economy – largest emitters in the future? Creation of G-20 in 2009 : Advocating Sustainable Development

8 8 Columbia Consortium for Risk Management (CCRM) Source: World Bank (2009) and UN Millennium Development Goals Database (2009) GDP and Carbon Emissions

9 9 Columbia Consortium for Risk Management (CCRM) Source: World Bank (2009) and UN Millennium Development Goals Database (2009) GDP and Carbon Emissions

10 Present & Future Energy Demand 15 TW: Current use Double global use by fold increase by end of XXI Century (IEA) The World Needs More Energy Today Energy = CO2 Emissions

11 Sustainable Economics 2009 The newly created G-20 requires change: a Sustainable World Economy How to do it

12 Changes Articulated by the United Nations Kyoto Protocol

13 The Kyoto Protocol Carbon Market International Law since 2005 Compulsory Carbon Markets now exist in 4 continents: EU ETS, Japan, Australia & California USA

14 December 2011: Kyoto Protocol extended 3 years in Durban COP 17 Existing KP limits valid until 2015 New global emission limits pledged for 2020

15 The Carbon Market - by its author - What is it? What it is not

16 Emission Limits are the basis of Carbon Market How does it Work CHANGES THE ENTIRE GLOBAL ECONOMY $25/TON EMITTED CARBON PRICES ARE THE Missing Signal Carbon Makes Clean Energy profitable Dirty Energy expensive and Undesirable Dirty pays clean – ZERO overall costs

17 The Missing Signal If we destroy all trees & make toilet paper our economy improves – why? Because Toilet Paper has Market Value & Trees do not. We lack Market Prices New Market prices = New Values New costs and New benefits The Carbon Market Provides the Missing Signal 1997: KP Placed Limits on industrial emissions 2005: KP Carbon Market International Law

18 New Markets SO2 market in CBOT – successful & 20 years old New markets for water and for biodiversity (Chichilnisky (1992, 1996, 2000, 2002, 2009, 2010, 2011)

19 The Carbon Market Trades $215 Bn/year EU ETS Reduced 37% EU emissions CDM transferred $50 Bn for clean energy projects in poor nations Changes US$55 Trillion energy infrastructure

20 Carbon Market Links to Global Economy Everything is made with energy Economic growth = Energy Use Link to Energy Carbon Market provides Missing Signal New Market Prices = New Values

21 FOCUS of Carbon Market Capping Emissions We cant get there without emissions reductions Markets for trading a Global Public Good: Compensates bringing down Atmospheric CO2 Creating Equity and Efficiency Closing the Carbon Cycle

22 Where are We? What comes Next?

23 What to do? Changing International Law Changing Economics We may just have to do it For the survival of our Species

24 Change International Law Basic Needs 1974 This author created Basic Needs within the Bariloche Model of the World Economy 1002 The new concept of Basic Needs becomes the basis of Sustainable Development and is voted by 150 nations at UN Earth Summit in Rio Brazil 2009 G-20 adopts Sustainable Development Sustainable Development

25 Change International Law The Carbon Market 1997 The Carbon Market - designed and written by the author into the UN Kyoto Protocol - international law since 2005 Since 2005 Productive clean CDM transfers to developing nations $50 Bn 2012 EU ETS Trades $215 Bn/year, decreased 37% EU emissions since it became law Makes profitable the use of clean energy for the production of all goods and services Changes the energy foundation of the Global Economy China ratified the Kyoto Protocol and since 2005 leads the World in Solar and Wind markets US did not and we are left behind in clean technology

26 Change International Law The Green Power Fund 1997 Sustainable Development requires Carbon Negative Technology $200Bn/year private public Green Power Fund to support Sustainable Development in the short and the long term – and change the global energy industry Uses Kyoto Protocol and its Carbon Market to fund Carbon Negative Power Plants - in LA. Africa & 43 Small Island States 2009 GPF Created by the author in Copenhagen COP Partially approved as the $200 Bn/year Green Climate Fund in Durban COP17 December 2011

27 New types of Markets = New GDP Market economics can be made consistent with sustainable goals But markets themselves must change Individualistic markets must evolve into new types of markets that I postulated - markets for the global commons – which incorporate connections between people and value Valuing the Global Commons They are slowly emerging due to new scarcities: carbon market I created within the Kyoto Protocol, international law since 2005 trading $200Bn/year; SO2 markets in CBOT, new markets for water and for biodiversity - Chichilnisky 1992, 1996, 2000, 2002, 2009, 2010, 2011, Chichilnisky Heal and Starrett 1994, Chichilnisky & Heal 2000 New Global Markets value privately produced public goods: the Global Commons

28 Green Capitalism in the 21 st Century The basis exists: international law and new economics Theoretically and in practice New markets for the global commons, new growth theory, new cost benefit analysis and new GDP measures, new international law New international law – self-funded and creating economic value (Kyoto Protocol)

29 The Global Commons New Economics From maximizing profits to economic progress that ensures survival of our species

30 Technology Urgently Needed To Reduce Carbon from the Atmosphere In a Profitable Way The Word needs Energy CLEAN ENERGY FOR DEVELOPING NATIONS

31 Why Carbon Negative Technology Global ThermostatCompany ConfidentialPage 31 Carbon Neutral is not enough Neutralizing emissions does not prevent further increases in atmospheric CO2 Even the most aggressive efficiency improvements and renewables adoption are unlikely to keep CO2 concentration at the generally agreed 450ppm to avoid catastrophic climate risk Negative Carbon is the solution 1 Air capture enables direct and rapid reduction of CO2 concentration GT allows for the capture of even more CO2 than we are loading into the atmosphere or that the earths systems can absorb – Negative Carbon GTs technology directly reduces carbon concentration in the air, making carbon negative possible 1 United Nations Headquarters, New York, November 12, Presentation by G. Chichilnisky on "The Rising Tide at Copenhagen:"The Rising Tide at Copenhagen: A Win-Win Solution for Industrialized and Developing Nations

32 Engineering: Closing the Carbon Cycle for Sustainability A Key Strategy for Environmental Protection, Energy Security, and Economic Development

33 Global Thermostat GT creates Carbon Negative Power Plants More Energy for Development While Cleaning the Atmosphere GT Transforms the worse emitters – the fossil power plants - into carbon sinks GT technology makes solar plants more profitable and even faster carbon sinks

34 Closing the Carbon Cycle GT Technology Captures Carbon from Air Inexpensive: Uses Low Process Heat Cogenerates Power Production with Carbon Capture With GT the More Power is Produced – the More Carbon is Reduced Makes Coal Plants Carbon Negative Makes Solar Power Plants even more Carbon Negative

35 Markets for Captured CO2 Global ThermostatCompany ConfidentialPage 35 StorageEnhanced Oil Recovery* Algae-Based Biofuels* Hydrogen- Based Fuels Products cement, fertilizer, plastics, greenhouses *EOR and Algae-based biofuels represent most significant opportunities for commercial applications of CO2 captured using GTs technology

36 Global Thermostat: Captures CO2 from Air Transforms CO2 from a Global Threat Into A Massive Profit Opportunity Benefits the Environment globalthermostatCompany Confidential2

37 Global Thermostat: Transforms Energy and Fuel Markets Enables National Security & Economic Development Turns CO2 from a global liability and pollutant into a profit center and source of clean fuel Closing the Carbon Cycle SM globalthermostatCompany Confidential3

38 Graciela Chichilnisky Managing Director World leading economist, entrepreneur, inventor, & executive Founder CEO of FITEL & Cross Border Exchange, financial technology companies Authored carbon market of Kyoto Protocol (EU ETS), and formal theory of Sustainable Development PhDs (2) in Mathematics and in Economics, MIT and UC Berkeley Tenured Professor Columbia University, previously Harvard & Stanford Peter Eisenberger Managing Director Leading physicist, R&D energy executive - 20 year career as head of R&D at Bell Labs and Director EXXON Global R&D, Vice Provost Columbia University Expertise in innovation around CO2 - renewable gasoline, chemicals, materials Founding Director Princeton University Materials Institute Founding Director Columbia University Earth Institute Edgar Bronfman, Jr. Chairman Chairman, Endeavor Global General Partner, Accretive LLC Former President and CEO of the Seagram Company Former Chairman and CEO, Warner Music Group Recently and successfully sold Warner for $3.3 billion Key Advisors Ed Hotard Former COO, Praxair Eric (Ric) Redman President, Summit Power Ron Chance Emeritus Science Advisor, Exxon Rocco Fiato Accelergy, Exxon Richard Kauffman CEO, Energies Nicholas Eisenberger Pure Energy Partners Ben Bronfman Global Thermostat Chris Jones Georgia Tech Roger Cohen Ex-Exxon Michael Fleisher Bain, Gartner Eric Redman President, Summit Power Sasha Mackler Summit Power Leadership Team globalthermostatCompany Confidential11

39 39 CO2 Management and Commercialization

40 GT Pilot at SRI - October 1, 2010 – Commercial Demonstration Fall 2012 globalthermostatCompany Confidential16

41 September 2012 First Commercial Demonstration Plant at SRI Commenced March TRL 9 expected Fall 2012 Uses heat from SRI Co-gen Power Plant GT Tandem + Carburetor lowest cost embodiment full integration Cost Breakthrough Powered by low-cost, process heat from SRI Co-gen Plant Eliminates transportation costs Modular Design 5,000-1,000,000 tons CO2/year Locates anywhere with 100 C heat source Flexible Integration Into Legacy or New Industrial Facilities Carbon Negative Solution Captures more CO2 from SRI fossil fuel Co-gen power plants than is emitted by plant Global ThermostatCompany Confidential

42 42Global Thermostat - CONFIDENTIAL

43 Closing the Carbon Cycle Sustainability Requires Humans Close the Carbon Cycle –Climate Sustainability –Energy Security –Economic Development A Human System that Closes The Carbon Cycle –Flexibility in location of sources and sinks –Connectivity between different components –Serve both todays fossil fuel and tomorrows renewables –Consistent with existing infrastructure –Provide net carbon negative technologies to offset carbon emitters –Value carbon so as to support positive feedbacks –New types of cooperation between countries and companies Global Thermostat - CONFIDENTIAL43 You need to know where you are going to get there…

44 Current Approaches to Climate Change Wedges approach a good start… –Sensible, diversified strategy based on existing pathways –Portfolio of renewable energy and efficiency technologies –Potential to keep CO 2 below 500ppm (still 2x pre-indust. level) But may not be enough to avoid climate change… –Depends on continued net natural absorption rate –Does not address 2000s already elevated emissions –Underestimates projected growth rate by factor of two –No solution past 2055 Climate will change destructively on its own –Earth history has many climate disasters –New York City under a 1 mile high ice sheet A safe, effective, and affordable solution to climate change is still urgently needed 44 Global Thermostat - CONFIDENTIAL

45 45Global Thermostat - CONFIDENTIAL Emissions Scenarios…

46 46Global Thermostat - CONFIDENTIAL Future Atmospheric Concentrations…

47 47Global Thermostat - CONFIDENTIAL What Carbon Negative Can Achieve…

48 48Global Thermostat - CONFIDENTIAL The Cost of Atmospheric CO2…

49 The Need for Going Carbon Negative… Carbon Neutral is not enough –Neutralizing new and existing emissions does not prevent atmospheric concentration of CO2 from further increasing –It doesnt solve the climate risk problem (reducing atmospheric concentrations below 500 ppm) Carbon-Negative Required –To reduce atmospheric concentrations faster than the natural absorption rate –To achieve a safe level of CO2 concentration Air Capture Can Make Going Carbon Negative Possible Pacala and Socolow, Science, Vol 305, 8/13/2004, Pg 969. Note: 7 Wedges refers to the seven stabilization wedges, created by Wigley, Richels & Edmonds, necessary to achieve an atmospheric concentration of CO2 of 500 ppm by Business as usual 7 Wedges (aggressive renewable energy use, efficiency, point-source sequestration) Negative Carbon Technology (such as Global Thermostat) with aggressive renewable energy 49Global Thermostat - CONFIDENTIAL

50 A Sustainable Solution ENERGY SECURITY FOR ALL ̶ AIR AND WATER MORE EQUABLY DISTRIBUTED CONTROL HUMAN CO2 INPUT TO CARBON CYCLE ̶ TEMPERATURE CONTROL GREEN ENERGY FUND STIMULATES ECONOMIC GROWTH ̶ STIMULATES TRANSITION TO CLOSING THE CARBON CYCLE ̶ MONETIZE THE CO2 SO IT IS A VALUABLE AND NOT A POLLUTANT 50 Global Thermostat - CONFIDENTIAL Close the carbon cycle –CO2 from air to make the energy we need-

51 Renewable 95: Closing the Carbon Cycle Global Thermostat - CONFIDENTIAL CO2 Capture & Hydrogen Conversion CO2 Capture & Hydrogen Conversion Water Vapor and CO 2 95 Octane CONVERTING CO 2 FROM AIR & HYDROGEN FROM WATER TO 95 OCTANE GASOLINE 51

52 GT Project with Algae Systems Global Thermostat - CONFIDENTIAL52 Desalination CO 2 Waste water Algae Production Dewatering Fuel Production Fuels, Electricity & Biochar Fuels, Electricity & Biochar Treated Wastewater Treated Wastewater Drinking Water Drinking Water Produces carbon negative transportation fuels (diesel, jet, etc) Treats municipal wastewater and produces drinking water Generates green electricity and biochar fertilizers GT is developing a fully-integrated biorefinery through a partnership with Algae Systems This unique combination of technologies provides critical municipal services while producing energy in an embodiment that is As Green As It Gets Solar Energy

53 Geothermal Electricity + CO2 Collaboration with Green Fire Energy – Uses CO2 instead of water – 10-20% of circulating CO2 sequestered Using CO2 captured by Global Thermostat –Location flexibility of air capture –Economic advantage of locating near use –Increased geothermal locations accessible Produces Carbon Negative electricity Global Thermostat - CONFIDENTIALPage 53

54 CLOSING THE CARBON CYCLE FOR ENERGY, ECONOMIC, AND CLIMATE SUSTAINABILITY 54

55 Global Thermostat Our goal is to provide technology to: ̶ Facilitate the transition to a renewable future Our Carburetor Technology to Clean Fossil Fuel Sources ̶ Provide carbon for the renewable energy future Our Direct Air Capture Technology to Close the Carbon Cycle ̶ Provide a common technology platform Connects air and concentrated CO2 sources ̶ Make money by doing good We seek and welcome partners ̶ They have already been essential to our efforts We are committed to broad dissemination ̶ Licensing model Global Thermostat - CONFIDENTIAL55

56 GT CARBON SPONGE Pipes to oil well, algae, etc. Patented Carbon Sponge: porous block coated with proprietary amine sorbents Ambient air and/or flue gas goes through and binds to sorbent Carbon Sponge lowers into sealed chamber Low temperature process heat releases pure CO2 gas for collection And the cycle restarts… How GT Technology Works 56 Global Thermostat - CONFIDENTIAL

57 Technology Operation Adsorption Phase Regeneration Phase Ambient air OR Air-flue gas blend Monolith Contactors + Sorbent Cartridge GT Module Step 1 Air Input GT uses Corning monolith contactors similar to those in your cars tailpipe Contactors provide high surface contact areas at low pressure drop Enables movement of large volumes of air with effective contact of CO2 at low cost 40 minute cycle 57 Global Thermostat - CONFIDENTIAL

58 Technology Operation 58 Step 2 CO2 Capture Adsorption Phase Regeneration Phase Monolith Contactors + Sorbent Cartridge GT Module GT sorbents proven highly effective by Georgia Tech - confirmed by SRI, BASF, and NETL BASF process to deposit immobilized amines in pores of the contactor walls at high loading Dramatically reduces heat required compared to liquid based CCS Ambient air OR Air-flue gas blend 58Global Thermostat - CONFIDENTIAL

59 Technology Operation C Steam Step 3 Regeneration CO2 Collection Adsorption Phase Regeneration Phase Monolith Contactors + Sorbent Cartridge GT Module CO2-rich sorbent is heated with low- temperature process heat (90-105C) steam CO2 is collected and sorbent is regenerated CO2 can be stored or used in multiple commercial applications minute cycle 59Global Thermostat - CONFIDENTIAL

60 For Sustainable Carbon-Based Life: Close the Carbon Cycle… Need Direct Air Capture ̶ Carbon for a sustainable renewable energy future ̶ Flexibility to provide sources and sinks Need Negative Carbon ̶ Climate Security Need Carburetor for transition ̶ Short term carbon free products ̶ Long term carbon negative products Need a Green Energy Fund ̶ Global Economic Sustainability Global Thermostat - CONFIDENTIALPage 60 Closing the Carbon Cycle is Key

61 Carbon dioxide concentration decreasing The Global Thermostat ENERGY Atmosphere 800

62 Graciela Chichilnisky Co-Founder and Managing Director Peter Eisenberger Co-Founder and Managing Director Global ThermostatConfidential62 Contact

63 A Game Changing Company Transforms Energy and Fuel Markets Enables National Security & Economic Development Turns CO2 from a global liability and pollutant into a profit center & source of clean fuel Closing the Carbon Cycle SM Global ThermostatCompany ConfidentialPage 8


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