Google invests $10 mln in Holocene to tackle carbon capture’s cost ‘holy grail’

Google has taken a bold step with Holocene in the fight against climate change. (Photo: iStcok)

American tech giant Google has announced a partnership with carbon capture startup Holocene, signing a contract worth up to $10 million. Starting in 2030, Google plans to purchase carbon credits at a very low price of $100 per ton. This bold and unprecedented collaboration has attracted significant attention due to the high costs associated with direct air capture of carbon dioxide.

Google to help Holocene lower development costs

Experts generally agree that for direct air capture (DAC) technology to be widely implemented, costs need to drop to $100 per ton. This so-called 'holy grail' price threshold is challenging to achieve in the short term. Even Climeworks, a Swiss startup operating the world’s largest DAC facility in Iceland, aims to reduce costs by 50% by 2030, but the cost per ton will still need to be between $400 and $600.