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New Wave | Hugo Rauch | Substack
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🌊 Removing CO₂ at 420 ppm
Is direct air capture a distraction, or a necessity for net zero?
We’re joined by Thor Gutierrez, Founder & CEO of Sirona Technologies, former Tesla engineer now building one of Europe’s most ambitious direct air capture (DAC) companies.
Direct air capture fascinates as much as it divides.Some see it as essential for net zero.Others call it an expensive distraction.
In this episode, we unpack what it really takes to scale DAC, economically, technically, and politically, and why starting now might be non-negotiable.
In our conversation, we covered:
→ Why we’ll need to remove ~10 gigatons per year
→ Why DAC should likely represent only ~1–2% of climate capital
→ Who’s actually buying carbon removal credits
→ Why voluntary markets are the “bootloader” for compliance markets
→ The Tesla playbook: speed of iteration > scale too early
→ Why modular, containerized plants outperform mega-projects
→ The real cost today: ~$800–900 per ton, and the roadmap to $250 by 2030
→ Why buyers demand a visible cost curve before signing contracts
→ Solid sorbents vs liquid solvents, and why modularity wins
→ Energy reality: DAC only works with abundant clean power
→ Why Kenya, the Middle East, and Norway make geographic sense
→ The 90% removal efficiency debate, and what the LCA actually shows
Thor makes a clear argument:
If you don’t believe in regulation, you don’t believe in solving climate.
Voluntary markets fund learning.
Compliance markets unlock scale.
