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How can Africa lead on carbon removal, and why are investors betting on it?

CIFAR Alliance

Nov 16, 2023

DACC and the Great Rift Valley: Opportunities and Challenges

The CIFAR Alliance Climate Venture Investment Co-Lab hosted their first edition of the ClimateTech Unveiled: Investor Series to explore how Africa can lead in carbon removals and why investors are betting on it. During this engaging discussion, moderated by Maelis Carraro, Managing Partner of the Catalyst Fund, the panelists Fiona Mugambi (Chief of Staff & Partnerships lead, Octavia Carbon) and Alex Blumberg (Angel Climate Investor) broke down DACC and the Great Rift Valley: The opportunities and the challenges it presents.

Here are some key takeaways from the discussion:

  • Companies engaged in industrial carbon capture, especially DACC, are positioned to be global leaders in addressing climate challenges.

  • DACC has the potential to become a cost-competitive solution for carbon capture and storage through ongoing innovation.

  • The nascent DACC industry allows for iterative experimentation, providing opportunities for improvement and innovation.

  • Prime storage sites, such as basalt fields, provide strategic advantages for efficient carbon storage.

  • Kenya's use of renewable geothermal energy enhances the efficiency and sustainability of DACC operations.

  • The DACC industry is competitive, requiring companies to strategically position themselves globally.

  • Navigating regulatory compliance and maintaining ethical oversight poses challenges in the rapidly evolving DACC industry.

  • Moving from pilot plans to large-scale commercial deployment involves challenges in scalability, infrastructure development, and financial investment.

Watch a recording of the event below.

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