📋 Tender Overview
Project Silverstone offers permanent CO2 capture and mineral storage (CCMS) through a safer and more economical technology than provided by alternative Carbon Capture and Storage (CCS) solutions. The Carbfix technology imitates and accelerates geological processes that nature has applied for millions of years to regulate long-term CO2 levels in the atmosphere, turning CO2 into solid carbonate minerals underground. The project will deploy full-scale CCMS at one of the largest geothermal power plants in the world, reaching a near-zero carbon footprint. The technology is proven at the project site to be safe, efficient, and environmentally friendly. For the planned CCMS activities, the site is entirely self-sufficient with respect to water, energy, storage and does not depend on any external feedstock. By injecting CO2 dissolved in water into basaltic formations, it is rapidly and permanently transformed to minerals and risks associated with conventional CCS are eliminated. The method has gained full support of the local community in Iceland as well as with national and municipal authorities. The project will have considerable scale up potential, providing a significant impact for emission reduction within the geothermal sector. Roll-out of the technology in Iceland is supported by Iceland?s Climate Action Plan where the Carbfix technology is recognized as instrumental for CCMS of emissions from geothermal power production and energy intensive industries. This project alone will deliver 10% of the emission reductions that Iceland?s Climate Action Plan calls for 55% emission reductions by 2030 within the energy and industrial sectors not covered by the EU ETS. The replication potential of the project is not limited to the geothermal sector as the technology is adaptable to several hard-to-abate sectors, including steel, cement, ammonia, and waste management.
