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Illustration: Rebecca Zisser/Axios

Two companies with different climate technologies — trapping emissions from industrial plants and removing CO2 already in the atmosphere — are teaming up.

Driving the news: The Canadian firm Svante and the Swiss company Climeworks AG have a new "joint development agreement" to pilot the combination of the former's industrial capture system alongside Climeworks direct air capture (DAC) tech.

Why it matters: As this recent post from Norway's Center for International Climate and Environmental Research points out, almost all modeled emissions scenarios consistent with meeting the Paris agreement goals envision some level of carbon capturing and negative emissions technologies.

The big picture: "By working together, the two companies can accelerate the development and adoption of both technologies for customers across industries and applications," yesterday's announcement states.

  • Per Bloomberg, Climeworks' goal is to "cut costs for capturing CO2 from ambient air to about $100 a ton from around $600 now."
  • One potential benefit, they said, is that waste heat from Svante's industrial capture process, which is designed for industries like cement and steel, can be used to power Climeworks' DAC machines.

Where it stands: The DAC industry is in pretty early stages and only occurs at a very small scale. Climeworks opened a plant in Switzerland in 2017.

  • Bloomberg notes that Svante "has a plant online that captures 30 tons of CO2 a day at a Husky Energy Inc. facility in Saskatchewan."
  • They're also working with cement giant LafargeHolcim, Total, and Occidental Petroleum to explore a potential project at a cement plant in Colorado.

What they're saying: Noah Deich, executive director of the group Carbon180, tells me there's a logic behind the pairing and called the effort "pretty novel."

  • "Atmospheric and point source capture are both essential for meeting climate goals, and there are a lot of ways that atmospheric and point-source projects can share costs (permitting, infrastructure, financing, etc.) by developing in tandem," he said via email.

Go deeper:

Go deeper

Updated 4 hours ago - Science

Huge wildfire reaches edge of Sequoia National Park

A plume of smoke and flames rise into the air as the fire burns towards Moro Rock during the KNP Complex fire in the Sequoia National Park near Three Rivers, California, on Saturday. Photo: Patrick T. Fallon/AFP via Getty Images

Firefighters in Sequoia National Park were working into the night after two wildfires merged to reach the Giant Forest Saturday.

Why it matters: This forest contains over 2,000 giant sequoias, including the General Sherman Tree — the world's largest tree by volume. Park officials wrapped the redwoods in foil last week as the Paradise and Colony Fires, now known as the KNP Complex Fire, neared. Protection efforts appeared to be working overnight.

4 hours ago - World

Hong Kong holds first "patriots only" elections

Hong Kong Chief Executive Carrie Lam during a news conference last Monday. Photo: Lui Siu Wai/Xinhua via Getty Images

Hong Kong's elections to choose the city's Election Committee members opened to a select group of voters on Sunday, under a new "patriots only" system imposed by China's government.

Why it matters: All candidates running to be members of the electoral college have been "vetted" by Beijing, per Reuters. They will go on to choose the Asian financial hub's next leader, approved by China's government, and some of its legislature.

7 hours ago - World

Israeli forces capture final 2 escaped Palestinian prisoners

An Israeli security forces member on Saturday stands guard at the Gilboa prison in northern Israel, from where the six inmates escaped. Photo: Ahmad Gharabli/AFP via Getty Images

Israeli forces captured the two remaining Palestinian prisoners who tunneled their way out of an Israeli maximum-security prison with four others in a "Shawshank Redemption"-style escape, authorities announced Sunday.

Why it matters: The escape sparked a massive manhunt and turned the prisoners into heroes in the West Bank and Gaza, with Hamas and Islamic Jihad in Gaza threatening an escalation if they were harmed, per Axios' Barak Ravid.