Mumbai-based Carbon Clean Solutions (CCS), a firm that originally began as a classroom project on clean technology, has won a grant of Rs. 33 crore from the United Kingdom’s Department of Energy and Climate Change.Founded by two Indian Institute of Technology, Kharagpur, graduates, Aniruddha Sharma, 26, and Prateek Bumb, 27, CCS apparently has the potential of cutting the cost of capturing carbon dioxide by more than half. Aniruddha and Prateek will use the grant money for demonstrating the application of the technology in large power plants.
In cutting the cost of carbon capturing, the Carbon Clean Solutions technology not only cuts emissions and therefore combats climate change, but also opens new doors for additional revenue streams. With power plants able to capture carbon at low costs, this carbon can then be sold as raw material on the market for use in chemicals, fire extinguishers, dry ice and sodas. Carbon dioxide can also be injected back into oil wells and natural gas fields to enhance recovery of these resources.
According to Aniruddha, the cost of capturing one ton of carbon dioxide using CCS technology is less then $30, compared with around $60 using tradition methods. The innovation places the two founders in an advantageous position to tap the $27 billion carbon capture market, which the International Energy Agency expects to grow to $229 billion in two decades. In the same period, the market is expected to grow in India from $2 billion to $30 billion.
Aniruddha and Prateek have been supported and mentored by Dr. Martin Haemmig of Stanford University, who they met at a clean technology forum in San Francisco. Well connected in the industry, Haemmig helped the two gain support from other industry players.
Visit Carbon Clean Solutions to find out more.