The Carbon Center (CC)
The Carbon Center is one of the first cornerstone technology development and business growth organizations that is planned for the Texas Innovates Campus. Focused on Carbon Capture, Utilization, and Storage (CCUS), the Carbon Center will co-locate within a community of corporations, NGOs, city partners, and academia at the Texas Innovates Houston Campus to increase collaborative opportunities. The Carbon Center will also attract top early stage CCUS entrepreneurs through its deep network, formalized by memorandum of understanding, with incubators throughout the USA. Additionally, winners of an annual global competition will be awarded basic memberships. These start-ups will work alongside more established industry players and the Carbon Center community. The Carbon Center, to start, will be actively working with Rice and The University of Houston to place early stage companies on our site, and give students and faculty opportunities to work collaboratively with the Texas Innovates Community.
DOE CCUS Funding
Supporting our thesis, that “Without CCUS, the level of cuts needed to keep global warming to two degrees Celsius (3.6 degrees Fahrenheit)—the upper limit allowed in the Paris Agreement—probably cannot be achieved, according to the International Energy Agency.” This is also seen in the support by the DOE for CCUS projects, with the majority (785 R&D Projects, See Figure 1) having no natural home to grow their technology. Coincidently, or not, one of the only 3 large scale CCS projects to remain active is Petra-nova, which is in Houston’s backyard.
From an investment point of view we have had strong market signal from major players and investor recently as shown in the i3 Venture Capital Trends of deals and investments and in the more recent announcements by major players of both the growth of the Oil and Gas Climate Initiative to 13 companies with over $1 Billion committed to CCUS and related solutions and the investment by Chevron and Occidental into Carbon Engineering.