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OGCI Report Highlights the Potential Role of CO₂ Mineralizing Rocks in Expanding Global Storage Capacity

Photo: Oil and Gas Climate Initiative

November 12, 2025

BY Oil and Gas Climate Initiative

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Carbon capture startup MCi Carbon Seeks $50 million funding round after opening Newcastle plant

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By Forbes Australia

June 17, 2026

Project Development 

Australian startup MCi Carbon plans to raise US$50 million to expand its carbon capture technology after opening a demonstration plant in Newcastle. The company's process converts captured CO2 into materials used in construction, positioning it to benefit from growing global demand for carbon reduction solutions.

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Holcim has launched CaptureLab, the cement industry's first industrial-scale carbon capture test platform, in Martres-Tolosane, France. The 2,500-square-meter facility uses an open innovation model to allow manufacturers, startups and researchers to test and validate advanced capture technologies in real-world conditions. The platform launches with an initial pilot project in partnership with Air Liquide.

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Aalborg Portland has signed an agreement with the Danish Energy Agency to receive a carbon capture subsidy of up to approximately EUR 2.2 billion over 15 years for its ACCSION carbon capture and storage project. The project is expected to capture up to 1.25 million tons of CO₂ annually from 2030 and represents a major step in Cementir Holding’s path toward net-zero emissions.

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The U.S. Department of Energy has selected the TerraSpark Energy Campus to receive up to $18.5 million in federal funding to support development of a 1.6-gigawatt coal-fired power facility with carbon capture technology in West Virginia. The project is expected to advance engineering and permitting work while supporting energy production, carbon management and job creation.

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Svante Technologies and a sustainable packaging company have moved a BECCS project at a southeastern U.S. paper mill into feasibility study, targeting removal of more than 500,000 tonnes of biogenic CO₂ per year with permanent storage planned in the Gulf Coast region.

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