Australia could turn carbon dioxide waste into a valuable CCU revenue stream according to a new report from Australiaโs national science agency, CSIRO.
The COโ Utilisation Roadmap explores the opportunities presented by emerging carbon capture and utilisation (CCU) technologies for Australia to support new industries and reduce carbon emissions.
The roadmap identifies how emerging CCU technologies could be used to support growth opportunities in Australiaโs food and beverages industry, the creation of zero or low carbon building products and materials, and position Australia for the export of low emissions chemicals and fuels.
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CSIRO chief executive Dr Larry Marshall said CCU technologies could help transition Australia towards a lower emissions future while creating economic growth.
โNo single technology will take us to net zeroโthe scale of our challenge in adapting to climate change and decarbonising our industries requires us to draw on every available tool,โ Dr Marshall said.
โThe development and demonstration of high abatement technologies like CCU has the potential to have a significant impact, as part of our broader efforts to both reduce emissions and lift the competitiveness of our industries.โ
Currently, industries such as cement, steel, plastics and heavy transport still rely on fossil fuels or have inherent emissions in their processes and are traditionally โhard to abate.โ
These industries are unable to rely on renewable technologies alone and account for about a sixth of Australiaโs emissions and around a third of global emissions.
CCU technologies capture COโ from the waste streams of industrial processes, or directly from the atmosphere, and convert it into useful new products, ranging from synthetic fuels to food and beverages, chemicals, and building materials.
Associate director of CSIRO Futures Vivek Srinivasan said Australia was well-placed to lead in CCU technologies.
โOur analysis shows that Australia is well positioned to capitalise on the CCU opportunity and become a leader in this emerging area,โ Mr Srinivasan said.
โAustraliaโs advantages include capacity to implement the low-cost, low-emission electricity needed for CCU technologies, a track record for developing internationally competitive export industries, and established international bilateral agreements on low emissions technologies.โ
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The roadmap draws on extensive national and international consultation, modelling and analysis to determine the key advantages, barriers, and considerations to support scale-up for identified areas of CCU opportunity for Australia.
By acting as a potential major user of hydrogen and helping to reduce COโ emissions, CCU complements CSIROโs investment in Australiaโs hydrogen and emissions reduction research through the Hydrogen Industry and Towards Net Zero Emissions Missions.
CSIRO worked with government and industry to develop the COโ Utilisation Roadmap including the Australian Department of Industry, Science, Energy and Resources; Woodside; Santos; BHP; Wesfarmers Chemicals; Energy & Fertilisers; APA Group; Mineral Carbonation International; the Victorian Government; KBR; Advisian; Australian Trade and Investment Commission; and COโ Value Australia.