Wednesday, November 3, 2021 • 7:30 AM – 10:00 PM
During a full-day event on 3 November organized by TerraPraxis, key stakeholders representing several trillion dollars in potential market demand, will reveal new near-term climate-scale strategies to compete on price and performance with fossil fuels that will break through the world’s largest and most difficult carbon emissions challenges: coal, and liquid fuels. Customers, investors and political leaders will announce strategies to accelerate the affordable repowering of 2 Terawatts of coal and delivery of 100 million barrels per day of carbon neutral liquid fuels. These large-scale solutions repurpose trillions of dollars of existing infrastructure to continue supplying reliable energy, but without emissions, and can advance groundbreaking progress toward Net Zero by 2050.
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More than 2,000 Gigawatts (GW) of coal-fired capacity is operating in the world today, adding roughly 15 billion tons of CO₂ emissions per year, amounting to almost half of all carbon emissions. Mainstream climate thinking that assumes countries will shut down their coal plants is not realistic. Most coal plants are young assets: more than half are less than 14 years old. Existing coal-fired power plants have enormous value in terms of established markets for their power, grid connections, access to cooling water and experienced personnel necessary for the generation and distribution of power. Even though coal plants themselves are the largest single source of carbon, they can also act as flexible generators, complementing renewables in support of delivering reliable, affordable and resilient electricity grids. Installing advanced heat sources, such as small modular reactors (SMRs), to replace the coal fired boilers at existing coal plants enables the continued use of existing infrastructure for emissions-free electricity generation. Repowering coal fleets offers a fast, low-risk, large scale contribution to decarbonizing the world’s power generation.
How can we deliver on the opportunity to repower coal fleets? Coal and gas plant owners will describe how they will contribute to creating a multi-hundred billion dollar market for rapid, low-cost repowering of coal and gas plants with carbon-free advanced heat sources while delivering a substantial portion of the clean electricity required to help achieve Net Zero by 2050.
The world is far off track for meeting the Paris climate goals of 1.5–2°C. Much of the carbon gap is due to “difficult-to-decarbonize” sectors such as shipping, aviation and energy-intensive industries. Given the scale and urgency of the required clean transition combined with the growth of the global energy system, all zero carbon hydrogen production options should be pursued. The potential of advanced heat sources to power the production of large-scale, very low-cost hydrogen-based fuels could transform global prospects for near-term decarbonization and prosperity.
This event sets out a pathway to decarbonize a substantial portion of the global energy system, for which there is currently no viable alternative.
Global hydrogen-based synthetic fuel production can be accomplished with shipyard-manufactured, sea-going production platforms akin to the large offshore production vessels currently used by the oil industry, as well as in refinery-scale hydrogen and synfuels gigafactories. World-class shipyards deliver consistently accurate costing and scheduling, and regularly deliver very large, complex and highly regulated products. This massive, rapid decarbonization effort can be achieved with a relatively small physical and environmental footprint, allowing large areas of land to be spared for rewilding and the restoration of natural ecosystems.
The goal of this convening is to outline actions needed to rapidly develop and deploy these resources. During this discussion, high-level stakeholders in aviation, shipping, oil and gas, and industrial-scale manufacture will explore how scalable, cost-effective hydrogen-based fuels can be produced in the near term.
New advanced heat source technologies are being commercialized today and offer a range of “climate scale” low-cost, fast and repeatable applications in the power sector, including repowering coal-fired power plants and production of hydrogen fuels. Participants in the CASC Live panel offer new perspectives on hard-to-abate decarbonization challenges, including large-scale, low-cost hydrogen clean synthetic fuel production to complement renewables and viable solutions for re-using and decarbonizing existing coal plant sites and transmission on a mass scale.
Global leaders representing mature and developing economies will explore how innovative and advanced applications of synthetic fuels and nuclear energy can address energy demand, ensure environmental justice and reduce the cost and risks of the clean-energy transition.