To achieve net-zero emissions by 2050, it is important not only to reduce CO2 emissions, but also to remove the CO2 already emitted. Even with best effort reductions, it is estimated that 6 to 10 billion tons of CO2 will need to be removed from the atmosphere annually. To neutralize these emissions, various methods and technologies are being considered. Among these, DAC is expected to be commercialized and implemented at the gigaton scale.
Heirloom is a leading U.S. DAC company that has developed proprietary DAC technologies and has already build a commercial plant. The company's strengths include a refined and scalable processes that uses abundant and inexpensive limestone, operational automation, and digital optimization.
With subsidies received from the U.S. Department of Energy, Heirloom is developing their next large-scale plant, "Project Cypress" (Shreveport, Louisiana). In addition, cost reductions through future scale-ups are being planned. The captured CO2 is used to make concrete or is safely sequestered underground, for which high-quality carbon credits are generated and sold to companies such as Microsoft and others that are working to combat climate change, or used as a feedstock for sustainable aviation fuels, for customers such as United Airlines.
Through our investment in Heirloom, Mitsui will deepen its knowledge of DAC and create a comprehensive carbon management industry, starting with DAC and combining it with global assets around the world. Specifically, we will develop a DACCS (Direct Air Capture with Carbon Storage) business and in combination with CCS (Carbon Capture and Storage) that captures and stores CO2, expand the sales platform that handles not only DAC but also various credits originating from forests, etc. We also aim to expand our sales platform and produce and sell carbon-neutral fuels made from DAC captured CO2.
Heirloom
Heirloom is restoring balance to our atmosphere by removing 100 million tons of carbon dioxide. We use natural processes to engineer the world's most cost-effective Direct Air Capture solution.