2023-03-27-PitchBook-二氧化碳作为价值来源（英）_11页_235kb

Overview

This report from PitchBook Data, Inc. examines carbon dioxide (CO2) as a source of value in climate technology, focusing on carbon utilization as an alternative to carbon storage. It highlights the rapid growth in venture capital (VC) investment in this space and explores key drivers, approaches, and viability factors.

VC Activity and Key Trends

VC investment in carbon utilization technologies has surged, increasing from $116.2 million in 2020 to $699.1 million in 2022, driven by regulatory incentives, technological progress, and the expansion of carbon capture infrastructure. Key deals involve companies like Monolith, Twelve, and Prometheus, which are developing innovative ways to convert CO2 into industrial products. The market shows a growing interest in transitioning from emission to utilization, supported by global net-zero pledges, such as the EU's Emissions Trading System and the US's Inflation Reduction Act.

Key Takeaways

• Carbon utilization provides an alternative to carbon storage by using captured CO2 as a feedstock for products like chemicals, fuels, and construction materials.
• Each utilization approach has different requirements, challenges, and energy needs; fuels face the highest energy costs, while construction materials have lower energy inputs.
• Regulatory support, such as carbon pricing, and consumer demand for low-carbon products are key drivers, alongside technological advancements to reduce costs.

Carbon Utilization Approaches

The field is broadly divided into three categories:

• Industrial Chemicals: Converting CO2 into chemicals like methanol or polymers, with varying energy needs.
• Fuels: Using CO2 to produce low-carbon alternatives, such as green aviation fuel or methane, which is energy-intensive.
• Construction Materials: Incorporating CO2 into cements or aggregates for decarbonization, particularly in sectors like cement production, which accounts for significant global emissions.

Viability and Challenges

Overall viability depends on factors including low energy costs, supportive policies, and varied market applications. While transportation and storage of CO2 can be costly, on-site utilization reduces these expenses but may face profitability issues due to high initial costs and energy dependencies.

Highlighted Companies Overview

• Carbon-to-Chemicals: Econic, Monolith.
• Carbon-to-Fuels: Prometheus, Southern Green Gas, Carbon Recycling International.
• Carbon-to-Construction Materials: CarbonCure, CarbiCrete.