A DIGITAL PLATFORM HELPS TO SWITCH COAL PLANTS TO CARBON-FREE ENERGY

Spring Wise

Spring Wise

Lisa Magloff

November 14, 2022

Spotted: The Paris Agreement states that emissions need to be reduced by 45 per cent by 2030 and reach Net Zero by 2050 in order to limit global warming to 1.5 degrees Celsius. Although many now consider that this target is beyond reach, it is still possible to stall warming at 2 degrees Celsius. One key to reaching this is to eliminate the use of fossil fuels as soon as possible, but current industry and deployment models for advanced heat sources cannot deliver fast enough or at the scale required. Startup TerraPraxis is aiming to change this.

Spotted: The Paris Agreement states that emissions need to be reduced by 45 per cent by 2030 and reach Net Zero by 2050 in order to limit global warming to 1.5 degrees Celsius. Although many now consider that this target is beyond reach, it is still possible to stall warming at 2 degrees Celsius. One key to reaching this is to eliminate the use of fossil fuels as soon as possible, but current industry and deployment models for advanced heat sources cannot deliver fast enough or at the scale required. Startup TerraPraxis is aiming to change this.

Takeaway:

TerraPraxis points out that simply shutting down coal plants is not necessarily the best option. Instead, the company argues that repurposing coal plants and repowering the facilities with alternate power sources such as nuclear or geothermal could save thousands of jobs. This approach could also save millions of dollars of capital cost by reusing existing infrastructure and transmission lines. If successful, TerraPraxis’ work could accelerate the transition to clean energy.

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