Year One:
CarbonNEXT Report

June 14, 2023

The global CCUS and industrial carbon removal sector needs to deliver 2-10 billion tonnes of emission reductions or removals per year by 2050 from just 0.04 billion tonnes per year today. This will create a market worth $1 trillion annually, of roughly the same physical scale as today’s oil and gas sector.

Canada is already a global leader in Carbon Capture, Utilization, and Storage (CCUS). It is home to:

  • Five of the world’s 30 industrial-scale projects
  • 8% of the global carbon-to-value patent pool
  • One-seventh of all geologically- sequestered anthropogenic CO2.
  • Seven of 60 finalists for the $100M Carbon Removal XPRIZE are Canadian.

Download the report and learn how carbonNEXT supported Canadian innovation leadership in CCUS throughout its inaugural year.

carbonNEXT is Canada’s carbontech hub, established in 2021 with Prairies Economic Development Canada and Scotiabank as our founding sponsors. Through Foresight Canada, carbonNEXT leverages the country’s largest pipeline of emerging cleantech innovators and delivers best-in-class training and mentorship services to streamline the commercialization journey for the next generation of Carbon Capture, Utilization, and Storage (CCUS) solutions.

Carbon Management Canada (CMC) provides CCUS-specific applied-research facilities, expertise, and industry connections to accelerate emissions reductions.