Frank Obrist at COP29: "Our DAC concept fits perfectly with global emissions trading"
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Frank Obrist at COP29: "Our DAC concept fits perfectly with global emissions trading"
- Global Agreement on Emissions Trading System boosts investor appeal of gigaplants that remove CO2 from the atmosphere and convert it into "atmospheric fuel"
- Gigaplants use solar energy to produce methanol on a large scale as a renewable energy source that is more economical than fossil fuels
Baku/Azerbaijan, Lindau/Germany, Lustenau/Austria – 28 November 2024 – The widespread consensus within the international community on the "Global Agreement on Emissions Trading System (ETS)" aligns closely with the Obrist Group's Direct Air Capture (DAC) concept, according to founder and CEO Frank Obrist, reporting from COP29. At the UN Climate Change Conference in Baku, the capital of Azerbaijan, Frank Obrist reported strong interest from governments, international industry groups, and institutional investors in the concept of sub-zero gigaplants—large-scale facilities that produce methanol using solar energy, with Direct Air Capture (DAC) technology playing a pivotal role in extracting CO2 directly from the atmosphere. He is convinced that renewable energy sources can only win in competition with fossil energy sources if they are more economical.
He highlights the primary economic advantage of gigaplants, stating: "Methanol is significantly more cost-effective than any other energy source." Another key factor for economic efficiency: methanol can be distributed worldwide via the same transport routes as fossil fuels. There is no need to build new power lines or refrigerated and pressurised transport containers, as would be necessary for hydrogen. A due diligence study, which was in high demand in Baku, puts the return on investment for gigaplants at 21 per cent of the capital invested. "The new global ETS agreement makes investments in sub-zero energy even more attractive," says Frank Obrist.
However, he places great importance on ensuring that his gigaplant concept benefits not only investors but, above all, the climate. The term "Sub Zero" stands for the fact that more carbon dioxide is removed from the atmosphere during methanol production than is released during subsequent combustion. According to due diligence, a Gigaplant removes more than 6.2 million tonnes of CO2 from the atmosphere each year using DAC. The Obrist Group refers to the resulting fuel as "aFuel" for "Atmospheric Fuel". As a side effect, around 228,000 tonnes of carbon are produced each year, from which carbon fibres or plastics can be manufactured, which binds the CO2 permanently and at the same time further increases the economic efficiency of the plant. "Many of my dialogue partners in Baku were impressed by how technically concrete, well-calculated, and supported by due diligence the concept of gigaplants for methanol production is," says Frank Obrist about his encounters at COP29.
The discussions surrounding the global increases in government budgets to save the climate in Baku also favour the Obrist approach. Frank Obrist explains: "In many cases, the start-up funding for gigaplants will come from government sources. The increase in funding is therefore good news for the climate, for all approaches to reducing CO2 levels in the atmosphere, and therefore for us."
Obrist Group: The Obrist Group, founded by inventor and entrepreneur Frank Obrist, focuses on innovations for global, sustainable and CO2-reducing energy concepts. The spectrum ranges from the global supply of renewable energies to atmospheric fuels (aFuels) and innovative CO2-negative (i.e. climate-positive!) drive concepts for the automotive industry. With around 380 key patents, the Obrist Group is one of the world's most important innovators in the field of sustainable energy concepts.
Further information: www.obrist.at
Press Contact: Thorsten Rixmann, Chief Marketing Officer, Phone +43 660 5642275, email: t.rixmann@obrist.at
Press Agency: euromarcom public relations, email: team@euromarcom.de
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