While reducing global greenhouse gas emissions is a worthy goal, there's another hurdle: reducing levels of CO2 in the atmosphere. 44.01 is looking to turn the gas into a normal mineral using entirely natural processes. This process will be scaled by 44.01, which has vast resources of precursor materials and a $5M seed fund to get things moving.Climate scientists and geologists are well aware of the process of mineralizing carbon dioxide. Peridotite, a naturally occurring rock, reacts with CO2 to create calcite. Calcite is another common and benign mineral. This has been observed in large quantities throughout history as evidenced by the numerous streaks of calcite that have penetrated peridotite deposit.Peridotite can be found at sea level for miles. However, hundreds of miles have been raised to the surface by tectonic activity on the Arabian Peninsula, specifically the northern coast Oman.Talal Hasan, an Omani sovereign investment arm worker, was reading about Oman's largest dead zone. This was due to CO2 emissions from the sea being absorbed and gathered there. Born into an environmentalist family, Hasan looked into the matter and discovered that the problem and solution were actually right next to one another: the country's mountains of Peridotite which theoretically could contain billions of tonnes of CO2.The New York Times published a photo essay on Oman's potential miracle mineral at that time. It highlighted the work of Peter Kelemen, Jeurg Matter, and Jeurg Matter. According to Henry Fountain of the Times, the Times at that time:This natural process of carbon mineralization could be harnessed and accelerated on a large scale, with some very big ifs, to help combat climate change.This is the general plan that Hasan and Matter have proposed.The first step is to accelerate the natural reactions of the materials. This happens over many years because CO2 and water vapour interact with the rock. There is no need to apply energy to cause the change since the reaction produces a lower level of energy.Hasan said that we were speeding up the process by injecting more CO2 than what you would find in the atmosphere. We need to drill an engineered borehole, which is targeted for mineralization.High carbonated water would then be pumped in to increase the surface area. This would continue until saturation of the drilled peridotite. It doesn't contain any toxic additives or catalysts. Instead, it is fizzy water. If some escaped, you will get a puff of carbon dioxide, just like when you open a soda bottle.The second is to do this without destroying the whole endeavor with huge trucks and heavy machinery churning out new CO2 at the same time as the old stuff. Hasan stated that the company is currently working on the logistics side of the business to establish a biodiesel-based supply chain (with Wakud), to transport the raw material to the machines and run them at night. Solar would offset the fuel cost.Although it sounds daunting, Hasan says that most of this work is already being done by the oil industry. This is, as you might imagine, a very common industry in the region. Similar to the way they drill and explore, there is a lot of infrastructure available for this. However, Hasan points out that other mineralization efforts, such as the basalt-injection program in Iceland, have already taken place.The third is to source the CO2. It is abundant in the atmosphere, sure, but it is not easy to capture enough and compress enough to make it industrially useful. To help their CO2 sequestration efforts, 44.01 has partnered with Climeworks and other carbon-capture companies.Many companies are involved in the direct capture of carbon emissions. We wanted to encourage carbon capture companies so we built the CO2 sinks and operated a plug-and-play model. They can plug in and start taking it from our site.It is not clear how it would be paid for. However, one thing is certain: there is a global corporate appetite to offset carbon. Beyond the old-fashioned carbon credits, there is a large voluntary market. Although the financial tools to sell verified carbon removal are still being developed, 44.01 is able to sell large quantities. DroneSeed, another company that offers a service other than offsets, hopes to benefit from a new generation emissions futures and other system. It is a complex and evolving area that combines international regulations, taxes and corporate policy.The goal of the project is to demonstrate that the system works at the scales expected. Although the seed money is not enough to construct the necessary operation, it is a first step towards obtaining the permits, studies, equipment, and equipment required to perform demonstrations.Hasan said that we tried to attract like-minded investors, people who are truly doing this for climate change. It is much easier to measure impact than financials.Apollo Projects, an early stage investment fund founded by Max and Sam Altman led the round. Breakthrough Energy Ventures also participated. Hasan stated that small investments were made by Omani families and European environmental groups.Oman could be the starting point but Hasan suggested that commercial operations would take place in another country. Although he refused to give details, a glance at a map will show that the peridotite deposit spills over Oman's northern border and into the UAE's eastern tip. This is a potential location for commercial operations. We will be able to share more information once 44.01 has completed its pilot work.
