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The CCS Project That Passed Every Test Except the Investment Test

Heidelberg Materials’ proposed carbon capture project in Edmonton appeared to contain almost every ingredient policymakers say a successful CCS development needs. It targeted cement, a hard-to-abate industry where most emissions come from the chemistry of producing clinker rather than simply burning fuel. A pilot confirmed that capture was technically feasible. The Canadian government offered substantial support. A pipeline and geological storage route had been identified. Alberta already operated an industrial carbon-pricing system. The…