You once remarked, “...there’s never been a demand for CO2-derived products until now. We’re seeing this ridiculous surge in demand. So much so, that in 5 or 10 years, we’ll see a significant penetration of CO2-derived goods in the marketplace.”
Can you elaborate on that statement? What are you seeing now? And what do you think you’ll see in 5-10 year—especially with respect to CCU?
We're seeing such a strong demand pull, largely in the offset market space, but more so for higher quality removals (eg, less susceptible to reversal). This has been fueled largely by corporate net-zero pledges. Yet the demand exceeds supply. Fortunately, one important component of corporate emission accounting and net-zero pathway strategy is value chain decarbonization, and I think this is where CCU can really step up to provide competitive products with lower lifecycle emissions. This will only grow over the next decade as more companies follow suit and join the current fleet who will have, by that time, made decarbonization through low carbon procurements a working part of their operational practice.