World & BusinessSpiritus reportedly pivots from carbon removal to selling CO2 for oil extraction
Bloomberg reports that Spiritus Technologies, founded to remove carbon dioxide from the atmosphere and bury it underground, is shifting to selling that CO2 to help extract oil.
TLDR
Spiritus Technologies is pivoting from carbon removal and underground storage toward selling CO2 for oil extraction, Bloomberg reports. The outlet describes the shift as the clean-tech industry recalibrates following US federal funding cuts and a corporate retreat from climate efforts.
Spiritus reportedly pivots from carbon removal to selling CO2 for oil extraction
Bloomberg reports that Spiritus Technologies, founded to remove carbon dioxide from the atmosphere and bury it underground, is shifting to selling that CO2 to help extract oil.
TLDR
Spiritus Technologies is pivoting from carbon removal and underground storage toward selling CO2 for oil extraction, Bloomberg reports. The outlet describes the shift as the clean-tech industry recalibrates following US federal funding cuts and a corporate retreat from climate efforts.