Carbon Sciences, the inventor of a technology to transform the carbon dioxide pollution from paper production into an industry additive, with a high cash yield, announced on Monday its first application targeting new growth markets.
Application of the compound - precipitated calcium carbonate or chalk ? will focus on the manufacture of paper, the firm said.
Carbon Sciences said the clean tech process was carbon neutral, used less energy and resulted in a lower cost product.
Demand for the carbon recycling technology is expected to grow to ten million tonnes by 2010, on the back of increased global paper consumption and construction in Asian countries, the firm said.
About 70 per cent of the PCC produced will be used by the paper industry as brightness coating and filler.
Derek McLeish, chief executive, said, "While the massive market for CO2 mitigation in coal-fired power plants may be years away, the multi-billion dollar PCC market is here and now."
"According to the International Energy Agency, the CO2 mitigation technology market is projected to reach $400 billion by 2030."
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