US energy department to invest $4m in carbon recycling technology
US-based Dioxide Materials has secured $4m in funding from the Advanced Research Projects Agency – Energy (ARPA-E) for further research into its carbon recycling technology.
The agency provided the funding from the US Department of Energy and will be employed for the production of transportation fuels and industrial chemicals electrochemically using CO2 that was earlier emitted out of power plants.
Commenting on the funding Dioxide Materials CEO Rich Masel remarked that these investments will help to reduce the impacts of global warming while improving sustainability.
The company is now expected to create the first industrially relevant prototype and will partner with diversified multinational conglomerate 3M to achieve the objective.
Dioxide owns a patent for a catalyst that uses comparatively lesser energy to recycle CO2 making the process more efficient and desirable.