The Use of Captured CO2
With an abundance of anthropogenic CO2 being produced across industries, finding a home for the carbon dioxide after capture has become a focal point in the CO2 capture industry. In many cases, the costs of capture can be offset in part by effectively utilizing the captured CO2 in a number of applications. CO2 provides a variety of benefits across multiple industries. It can be used in refrigeration and dry ice production, creating carbonated soft drinks, fire extinguishers, plastics production, and more. Additionally, CO2 is used in many chemical production facilities as a raw material.
However, the ION team believes the most profitable and largest market for captured CO2 is in Enhanced Oil Recovery (EOR). CO2 is injected into oil depositories where it loosens the oil from geological formations and allows it to move towards extraction wells. Any CO2 that emerges with the produced oil is separated in above-ground facilities and recycled back into the EOR process. Enhanced Oil Recovery utilizing CO2 has been utilized for production by the oil & gas industry for decades.