A new technology that turns carbon into stone seems to have the potential of making Iceland home to what is claimed to be Europe’s first large-scale onshore carbon storage project.
The Icelandic startup Carbfix has announced it is planning to build a new hub designed to receive carbon dioxide transported by ships operating on sustainable fuel.
New technology will then be used to permanently store and safely turn carbon dioxide into stone, deep within the basaltic bedrock.
The company said the terminal will also be able to store carbon dioxide from local industries, as well as that captured directly from the air.
When fully operational, the so-called CODA terminal is expected to have an annual storage capacity of three million tonnes of carbon dioxide.
Edda Sif Pind Aradóttir, Chief Executive Officer of Carbfix, said: “By receiving carbon dioxide from neighbouring countries for permanent mineral storage, Iceland takes on a pioneering role within Europe.”