Assignment 1 New Venture Opportunity Evaluation

Seawater Carbon Extraction
Technology
Prof- WES Worsfold
By
Anu Raj (8837975)
Sept 30, 2023

Contents
Introduction...........................................................................................................................................2
Ideation Process....................................................................................................................................3
Business Idea: Seawater Carbon Extraction Technology........................................................................3
Trend Analysis........................................................................................................................................3
UNSDGs and Value Creation..................................................................................................................4
Conclusion.............................................................................................................................................6
References.............................................................................................................................................7
Introduction
The concentration of carbon is approximately 150 times as high as in the atmosphere (PATEL,
2023). Climate change is a serious global problem that is exacerbated by the atmosphere's
rising carbon dioxide (CO2) levels. Innovative solutions are necessary to address this
problem. This study presents a viable business idea centered on Seawater Carbon Extraction
Technology, a promising method for removing CO2 from the atmosphere and reducing
climate change.
Ideation Process
Ideation technics- Design Thinking:
Design thinking is a user-centered strategy that entails defining issues, coming up with ideas
for solutions, prototyping, and testing. It encourages a holistic understanding of the problem
and user needs.
The decision to use design thinking was made because it encourages empathy and helps to
connect the business concept with customer demands and environmental concerns. It
promotes creative problem-solving and iterative development, which are essential for
dealing with difficult problems like carbon extraction.
Business Idea: Seawater Carbon Extraction Technology
It is estimated that approximately 30% of C02 produced is absorbed by our oceans.
“In the 200-plus years since the industrial revolution began, the concentration of carbon
dioxide (CO2) in the atmosphere has increased due to human actions. During this time,
the pH of surface ocean waters has fallen by 0.1 pH units. This might not sound like much,
but the pH scale is logarithmic, so this change represents approximately a 30 percent
increase in acidity.” (https://www.noaa.gov, n.d)
The main focus of the business venture is the advancement and application of Seawater
Carbon Extraction Technology (SCET). With the help of an advanced system called SCET, CO2
that is dissolved in seawater can be extracted in the form of bicarbonates and carbonates.
These naturally occurring substances can be used in a variety of processes, including
farming, manufacturing, and the creation of carbon-neutral fuel.
Trend Analysis
The Increasing global concern over climate change and rising carbon dioxide (CO2) levels in
the atmosphere help us recognize that there is a pressing need for innovative solutions to
address this issue (REBECCA LINDSEY, 2023).
Social trends: There are existing and emerging environmental regulations related to
carbon emissions (www.osler.com, 2021). Govt Regulations promoting carbon
capture and storage create a favorable opportunity for a venture into seawater
carbon extraction technology.
Being mindful of shifting consumer tastes for eco-friendly goods and services can
gain a competitive advantage that can lead to a strong customer base which can be
the foundation for the business to flourish and expand.
Technological Advancements: There are ongoing innovations can lead to more

efficient and cost-effective seawater carbon extraction methods these technologies
can be affordably adopted to build a suitable and sustainable process for carbon
extraction.
Partnerships and collaborations with research institutions, environmental

organizations, and government agencies can provide access to funding, expertise,
and networking opportunities. The federal funding of $ 1 billion by the Biden
administration is a clear example of the emphasis that is given to this newly emerging
industry (Corbin Hiar, 2023).
Economic trends: Given the fast impact on the nature due to carbon emissions
governments, corporations, and individuals are increasingly seeking ways to reduce
their carbon footprint. Also, the extracted carbon is in such a form that it is in huge
demand in a wide range of industries.
As part of their commitment to combating climate change, governments and

businesses all over the world are increasing their investments in green technologies
and carbon reduction programmes.
The seawater carbon extraction business idea is positively impacted by this trend.
Funding, partnerships, and market demand are made more favourable by the rising
interest in green technologies. Governments and investors may offer financial
assistance and incentives for projects that reduce carbon emissions.
UNSDGs and Value Creation

The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted
by the United Nations in 2015 as a universal call to action to end poverty, protect the planet,
and ensure that by 2030 all people enjoy peace and prosperity.
The 17 SDGs are integrated—they recognize that action in one area will affect outcomes in
others, and that development must balance social, economic, and environmental
sustainability.
The below United Nations Sustainable Development Goals (UNSDGs) provide a framework
for evaluating how this business idea can create value:
UNSDG 7: Affordable and Clean Energy
UNSDG7 encourages everyone to use cheap, sustainable energy. Promoting the use of clean
energy to power the technology and lowering its environmental impact enhances the value
of seawater carbon extraction. The goal is aligned with technological advancements in
sustainable energy, policy support, and carbon offset opportunities, increasing the viability
and impact of carbon extraction technology.
UNSDG 9: Industry, Innovation, and Infrastructure
By encouraging research and development, UNSDG-9, which focuses on innovation,

infrastructure, and industry, improves seawater carbon extraction technology. It encourages
technological development, increasing the effectiveness and efficiency of carbon extraction.
Collaboration with businesses and institutions advances this objective by quickening the
creation and application of sustainable carbon removal technologies.
UNSDG 13: Climate Action
UNSDG-13, centered on climate action, greatly benefits Seawater Carbon Extraction

Technology. The technology aligns perfectly with this goal by directly addressing climate
change through carbon removal. Its ability to reduce atmospheric CO2 levels contributes to
urgent climate mitigation efforts, making it a crucial tool in the battle against global warming
(chat.openai.com, 2023).
UNSDG 14: Life Below Water
By promoting ethical and sustainable carbon extraction methods, UNSDG-14, which aims to
protect underwater life, advances seawater carbon extraction technology (SCET). SCET can
lessen its negative effects on the environment, safeguard marine ecosystems, and improve
ocean health. SCET aligns with this objective and ensures the protection of marine life
through collaboration with marine conservation initiatives.
UNSDG 17: Partnerships for the Goals

Partnerships are emphasized by UNSDG-17 for sustainable development. Collaboration with
governmental agencies, academic institutions, and environmental organizations is
encouraged, which enhances the value of seawater carbon extraction technology. In order to
develop, implement, and scale up this crucial technology to combat climate change, these
partnerships can offer funding, knowledge, and a global support network.
Conclusion
A multifaceted strategy for combating climate change, Seawater Carbon Extraction

Technology's business model fits with current social, technological, and economic trends. It
has the potential to generate significant economic growth, respond to the growing need for
sustainable solutions, and advance numerous UNSDGs. This project is a valuable addition to
the global effort to combat climate change because it not only offers financial opportunities
but also shows a dedication to a sustainable and carbon-neutral future.
References
(2021). Retrieved from www.osler.com:
https://www.osler.com/en/resources/regulations/2021/carbon-ghg/canadian-government-
carbon-and-greenhouse-gas-legi#:~:text=On%20December%2019%2C%202020%2C
%20the,MJ)%20by%202030%2C%20which%20represents
chat.openai.com. (2023). Retrieved from HOW UNSDG-13 add value to Seawater Carbon Extraction
Technology.: https://chat.openai.com/
Corbin Hiar. (2023, Aug 11). Retrieved from scientificamerican.com:

https://www.scientificamerican.com/article/carbon-capture-projects-get-1-billion-in-new-
federal-funding/
(n.d). Retrieved from https://www.noaa.gov: https://www.noaa.gov/education/resource-

collections/ocean-coasts/ocean-acidification#:~:text=Because%20of%20human%2Ddriven
%20increased,the%20ocean%20becomes%20more%20acidic.
PATEL, P. (2023, Aug 15). Using the Oceans to Help Capture Carbon. Retrieved from
spectrum.ieee.org: https://spectrum.ieee.org/direct-ocean-carbon-capture
REBECCA LINDSEY. (2023, May 12). Retrieved from climate.gov: https://www.climate.gov/news-

features/understanding-climate/climate-change-atmospheric-carbon-
dioxide#:~:text=Without%20carbon%20dioxide%2C%20Earth's%20natural,causing%20global
%20temperature%20to%20rise.

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Seawater Carbon Extraction

Anu Raj (8837975)

Sept 30, 2023

Business Idea: Seawater Carbon Extraction Technology........................................................................3

UNSDGs and Value Creation..................................................................................................................4

Ideation technics- Design Thinking:

Business Idea: Seawater Carbon Extraction Technology

It is estimated that approximately 30% of C02 produced is absorbed by our oceans.

Technological Advancements: There are ongoing innovations can lead to more

Partnerships and collaborations with research institutions, environmental

As part of their commitment to combating climate change, governments and

UNSDGs and Value Creation

UNSDG 7: Affordable and Clean Energy

UNSDG 9: Industry, Innovation, and Infrastructure

By encouraging research and development, UNSDG-9, which focuses on innovation,

UNSDG 13: Climate Action

UNSDG-13, centered on climate action, greatly benefits Seawater Carbon Extraction

UNSDG 14: Life Below Water

UNSDG 17: Partnerships for the Goals

A multifaceted strategy for combating climate change, Seawater Carbon Extraction

Corbin Hiar. (2023, Aug 11). Retrieved from scientificamerican.com:

(n.d). Retrieved from https://www.noaa.gov: https://www.noaa.gov/education/resource-

REBECCA LINDSEY. (2023, May 12). Retrieved from climate.gov: https://www.climate.gov/news-

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