Groundbreaking development by Prometheus: Reducing the cost of DAC carbon capture by a staggering 80%
In a groundbreaking development, Prometheus, a US-based energy company founded in 2019, has achieved the world's lowest-cost carbon capture. This significant milestone, announced by Rob McGinnis, Founder and CEO of Prometheus, could make carbon-neutral fuels price-competitive with fossil fuels without subsidies.
Prometheus' innovative Direct Air Capture (DAC) technology, combined with their hydrocarbon electrolysis Faraday Reactor, has brought carbon capture costs below $50 a ton. This breakthrough makes affordable e-fuels possible for the first time.
Unlike most DAC systems that are tied to specific locations with point sources of CO2, Prometheus' modular DAC units can be placed far away from such sources due to their low cost. These units can operate off-grid and be placed wherever renewable electricity is most affordable, making them highly scalable and adaptable to various locations.
The cost of Prometheus' DAC process for capturing CO2 has been reduced to less than US$50 per ton, a figure that represents more than 80% reduction compared to industry averages. This reduction in costs allows for the production of truly affordable e-fuels.
Prometheus Fuels produces carbon-neutral fuels through a process known as reverse combustion, using direct air capture and renewable electricity. Their system demonstrates energy use and cost savings by bypassing traditional gas purification, compression, absorption, desorption, and infrastructure requirements.
Investors in Prometheus Fuels include Maersk, BMW, Y Combinator, Swisscom Ventures, Lansdowne Investment Company Ltd., and several leading technology entrepreneurs. The cost and fuel economics of Prometheus Fuels' DAC process have been independently validated by global engineering firm Ramboll.
Prometheus uses a "Maxwell Core" nanotube membrane to extract fuel from the remaining water in their process, producing a high-octane carbon-neutral fuel. The fuels produced by Prometheus can power data centers, factories, ships, vehicles, and aircraft.
A 200-ton-per-year facility, Prometheus' DAC system under construction is scheduled for completion this year. This development marks a significant step towards a more sustainable energy future, as DAC technology, as listed by the IEA, is a key carbon removal option in the transition to a net-zero energy system.
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