Lisa Magloff
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 Terra Praxis 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 Terra Praxis is aiming to change this.
Terra Praxis 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, Terra Praxis’ work could accelerate the transition to clean energy.