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Progress Towards Operating a Viable Business in CO2

A techno-economic investigation commissioned by the members of the Carbon Dioxide Capture & Conversion (CO2CC) Program

See PPT Deck here (as PDF) | See Report TofC here (as PDF)

Because of the CO2CC Program focus on CO2/GHG emission reductions toward industry sustainability, TCGR is sharing access to a Power Point Deck which extracts the important and salient findings from our recently completed techno-economic report entitled, Progress Towards Operating a Viable Business in CO2. This report was developed as one of three reports delivered in 2021 exclusively to members of our Carbon Dioxide Capture and Conversion (CO2CC) Program.

The Catalyst Group Resources (TCGR) continues to provide forward-looking advice in its new multi-client and select-client reports along with those delivered for its membership programs.


A critical feature of the CO2CC Program is its members-only techno-economic reports, where topics are selected by ballot and where contents are shaped by members’ Table of Contents inputs.

This report documents carbon management solutions that remain underdeveloped, under deployed, and well off-pace to meet the scale to commensurate with impactful climate change mitigation. Billions of tonnes of CO2 emissions will need to be avoided or removed from the atmosphere by mid-century. Some view this as an insurmountable task. Others see it as a golden opportunity. Each element in the full CO2 supply chain is considered and explored including procurement of CO2 from capture at point sources or directly from the air, purification and compression to specification, identification of suitable sinks, e.g., utilization or geologic storage partners, cost of transportation, costs associated with the end treatment, e.g., conversion or injection, and any ancillary cost considerations in the process that should be considered in evaluating economic viability.

It outlines several technical approaches, identifies cost drivers, and places major focus on developing a sensible methodology for selecting components in the carbon management value chain that connect to minimize costs and maximize revenue.

Figure 1          Schematic representation of the terminology used in this report (Source: Authors)

Several existing and promising new technical approaches are profiled, with author insights provided to guide the reader on the most critical elements of viability. The report ends with a pair of case studies to illustrate how one might approach the formation of a carbon management value chain using the tools provided in this report, and in two different contexts.

Some of the key takeaways from this report are that Enhanced Oil Recovery (EOR) is the dominant mechanism for support in CCS projects worldwide. Of the 21 active CCS projects, 16 are tied to EOR. Secondly, the most important attributes in successful CCS projects are low capital cost, high technical readiness, and credible project revenues. Projects with these traits have a higher chance of success. High TRL projects have much lower risk but are often beset by incumbent competition.

Carbon utilization remains expensive and will struggle to reach cost parity with incumbent routes. Elevated feedstock costs plus operational costs associated with conversion of CO2 are major cost drivers that place many utilization routes at a disadvantage so long as demand is market driven. It is difficult to quantify the impact of low carbon premiums, though this could help lower the barrier to entry for CO2-derived products. CO2 storage remains less popular due to economic and political barriers. The lack of financial incentive to store CO2 underground is a major contributor to the lack of CCS projects that terminate in secure, geological storage. Political barriers, such as Class VI permitting in the US, contribute to the disproportionate number of projects associated with EOR.


By the direction of the member companies (through balloting and other interactive means) and operated by TCGR, the CO2CC Program delivers weekly monitoring communications via email (CO2CC Communiqués), three techno-economic reports (highly referenced and peer reviewed) and scheduled meetings of members (either in-person or via webinar). Access to deliverables is exclusive to members.

In addition to the program deliverables, TCGR works with members to identify and foster competitive advantage and opportunity. This value-added relationship, along with active participation by the membership, leads to improved (or unique) external R&D and commercial investment possibilities.

Don’t be left behind! Align with leading industrial member-companies like BASF, Braskem, CEPSA, Dow, Linde, LyondellBasell, Reliance, Shell and Total, among others, in the CO2 conversion space by joining the CO2CC Program today. This is the only way to get TCGR’s in-depth and unparalleled report, Progress Towards Operating a Viable Business in CO2.

More information about this report and other services of the CO2CC Program can be seen at http://www.catalystgrp.com/php/tcgr_co2cc.php.

Call +1-215-628-4447 or e-mail Chris Dziedziak at cdziedziak@catalystgrp.com, and we’ll be happy to discuss these and other interesting membership benefits.