BasalticGeothermalIn-SituCarbonMineralization

Why It Matters

This technology directly addresses the critical risk of CO2 leakage from conventional geological storage sites, providing a permanent and virtually irreversible solution for carbon sequestration. In a mainstream future, industrial clusters located near suitable basaltic formations could have integrated carbon capture and on-site mineralization, significantly reducing their carbon footprint. Geological research firms, drilling companies, and regions with abundant basalt formations stand to gain, while areas lacking such geology may face limitations. Key barriers include identifying and characterizing suitable geological sites globally, the high cost of drilling and injection wells, and accurately monitoring long-term geochemical processes. Widespread adoption in suitable regions is expected in the 2030s, with Iceland, the US, and Norway leading the way. A second-order consequence is the potential repurposing of existing oil and gas infrastructure and expertise for carbon injection, creating new roles for the energy sector but also raising questions about legacy industry transitions.