Origen Power, developer of technology with the potential to reverse climate change, has been awarded UK government funding worth £1million. The grant from the Energy Entrepreneurs Fund run by BEIS is a strong endorsement of the technology which provides cost effective (£40/MWh), carbon-negative (-600kg / MWh), baseload power.
The process, which also produces lime and high purity CO2, is commercially viable at current wholesale market prices, without a carbon price.
The award reflects growing acknowledgement of the need for what are known as Greenhouse Gas Removal (GGR) technologies. To achieve the Paris Agreement on limiting temperature rises to between 1.5 and 2° C, it will be necessary to remove some 600-800 billion tonnes of CO2 from the atmosphere. The 45Q tax credit recently introduced in the US is paving the way for a huge global market for GGR and Carbon Capture technologies.
The grant will part fund the building of a 400kW prototype plant at a UK site in partnership with Arcola Energy and lime producer Singleton Birch. Origen Power is raising a further £1.2 m to bring the technology to market.
Nicky Chambers, CMO, Origen Power said ‘This is a hugely important award. It signifies a realization that we need to invest in technologies that can remove carbon dioxide from the atmosphere at scale and that’s just what Origen Power technology does.’
Ben Todd, Managing Director, Arcola Energy said ‘Arcola Energy is delighted to be working with Origen Power on the development of the prototype plant, bringing our expertise in engineering of clean energy systems to this exciting new opportunity.”
Article source: www.origenpower.com