Our global race to net zero emissions needs many solutions to meet our climate targets.
We need to stop CO2 emissions in the short term and then remove atmospheric carbon. We enable both.
MCi's breakthrough is to decarbonize our industries by turning their CO2 into valuable materials.
At MCi we have taken on the challenge to reduce CO2 emissions from 'hard to abate' industries that cannot immediately achieve emission reduction targets through renewable energy adoption alone.
We are helping decarbonize global customers in industries like steel, cement, mining, chemicals, manufacturing and energy through their transition to net zero. These sectors emit more than six billion tonnes of CO2 annually into the atmosphere. We can help avoid many of these industries' CO2 emissions from now and through their transition to net zero. We are working with global partners to meet this demand.
Following 15 years of intense R&D with substantial Australian Government and industry investment, MCi is scaling its technology and working with customers and partners to identify the best industrial locations to build its first Carbon Plants to capture CO2 emissions and convert them profitably into solid materials called carbonates. Used in many construction, consumer and manufactured products, these carbonates further reduce the carbon footprints in products, supporting the circular economy. This double carbon reduction delivers a negative carbon lifecycle benefit and produces high quality, verifiable, permanent carbon offsets.
Our technology uses a natural earth process called mineral carbonation that we have accelerated. It is safe and permanent and has the potential to lock away millions of tonnes of industrial CO2 emissions every year. Our technology leads a new cleantech field called CO2 Utilization or Carbon Capture and Use (CCU) which treats CO2 as a resource not a waste.
As we transition towards our net zero emissions targets, climate models suggest we need to draw down carbon from the atmosphere with Negative Emissions Technologies (NETs). As a recognised NET, MCi's Carbon Plants could be scaled and integrated with emerging Direct Air Capture (DAC) technologies to provide a safe and permanent solution for removing more than a billion tonnes of CO2 per year from the atmosphere to help achieve our long term climate goals.