An Israeli company is turning industrial waste into a clean energy solution.
Modeled after plants ability to synthesize CO2 and water into energy, NEWCO2Fuels (NCF) takes polluting CO2 waste and industrial water and turns it into a synthetic gas that can be used for fuel, fertilizer and even turned into plastics.
NCF’s CEO David Banitt explained that the process takes the by-product of industrial production and turns into something both profitable and sustainable, especially since the heat comes from solar energy or the byproduct of the industrial manufacturing.
“There are a lot of industries using high-temperature heat to produce things like steel, glass and cement, by burning fossil fuel,” he said. “They waste a lot of heat and emit a lot of CO2 to the atmosphere. We take these two streams of waste and turn them into profitable products.”
Given the concern for greenhouse gasses such as CO2 and the impact on the environment, NCF’s method has made it a hot ticket item around the world.
While still only three years old, the company has peaked global interest, including the United States, Australia, and China.
At home in Israel, the concept will also soon ‘go live’ at the company’s facility in Rehovet’s Science Park as well as an power station.
Banitt is excited to see his company’s concept so well received at home and abroad.
“In the last year it has been exciting to see that the market is very much interested in what we are doing because excess heat is such a wasted asset and CO2 is such a problem,” he said. “The market is quite large.”
After extensive testing, NCF is currently looking to work with partners to test out their concept further.
Banitt also said that while the concept is already sustainable, the long-term goal is to have the product run only on renewable solar power, making the process even greener.
“Our long-term dream is using solar energy only,” the NCF CEO said. “Imagine a desert full of mirrors tracking the sun and producing fuel from the CO2 in the air.”