In response to the EU’s plans to stimulate carbon capture and storage, some companies have begun to show greater interest in the technology, while others have begun to assess the high costs associated with the new emissions targets. The EU has indicated that it will invest $8.9 billion on energy-related research over the next six years, much of which would be dedicated to carbon capture and storage for plants to be constructed across Europe.

Aker, the Norwegian industrial group, recently indicated that it would invest $161 million with a partner in what could be the first-of-its-kind plant to capture and store carbon dioxide. Several other companies are expected to announce similar plans in the EU, including Enel, which is considering the possibility of a facility near Venice.