The Hellisheidi geothermal power plant situated on the mid-Atlantic ridge, is the newest and largest geothermal plant in Iceland - a country that heats 90% of its homes using geothermal water. The plant has now become the first in history to capture carbon dioxide from ambient air, using a system of fans and filters, and then store it in bedrock 700 metres down. There the gas reacts with basaltic rock and forms solid minerals, creating a permanent storage solution, and turning Hellisheidi into a negative emissions site. The EU-funded project [is] capable of capturing 50 metric tons of CO2 each year. Christoph Gebald, Founder and CEO at Climeworks, said: "The potential of scaling-up our technology in combination with CO2 storage, is enormous. Our plan is to offer carbon removal to individuals, corporates and organizations as a means to reverse their non-avoidable carbon emissions.′ It also costs $600 per ton of carbon dioxide, a figure they are hoping to reduce to $100 per ton. Iceland currently runs 100% of it's electricity from renewable sources.
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