US Carbon Firm Sees Growth in India Amid Trump Climate Pullback

(Bloomberg) --

US carbon recycling firm LanzaTech Global Inc. sees an opportunity to expand in India, the world’s third-largest emitter, as uncertainty over clean energy technology in the US grows following President Donald Trump’s climate pullback.

The firm, which recycles carbon into materials like sustainable fuels and chemicals, sees “hundreds of millions of dollars” worth of growth for the company in India by the end of the decade, Chief Executive Officer Jennifer Holmgren said in an interview with Bloomberg TV. She spoke on Wednesday on the sidelines of the India Energy Week conference in New Delhi. 

The firm currently provides technology to state-owned NTPC Ltd. and Indian Oil Corp. to convert carbon dioxide emissions into ethanol.

India plans to slash its carbon emissions by at least 45% by 2030, compared with 2005 levels, and aims to reach net-zero emissions by 2070.

Trump’s rollback of climate-friendly policies has a “knock-on effect” and adds to uncertainty, Holmgren said. “Fortunately for us, we are a global company. If the United States swings one way, we can still work in India, we can still work in other parts.”

Trump made the decision to exit the Paris Agreement on global warming and pull out of the US International Climate Finance Plan shortly after he took office in January. While LanzaTech has not seen any project cancellations or impact on funding for US projects, the company does not rule out the possibility, Holmgren said.

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