Carbon dioxide conversion pathways assessment

ADI performed a techno-economic assessment of nine CO2 conversion routes, ranging from mineralization to electrochemical synthesis of platform chemicals. The analysis utilized thermodynamic feasibility and energy-intensity metrics to rank pathways by their ability to compete with conventional fossil-based production.

The client

Global investment firm

The situation

Difficulty in prioritizing investments across a fragmented landscape of C2X startups with varied technology readiness and market materiality.

ADI’s contributions

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Proprietary screening tool

ADI developed a weighted metric system covering TRL, selectivity, and market materiality to rank 25 different C2X end-products.

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Thermodynamic feasibility benchmarking

Analysis of enthalpy and energy intensity identified mineralization as the most efficient route, requiring significantly less power than electrolysis.

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Competitive startup profiling

The study mapped startups like Twelve and LanzaTech against technical maturity to identify those nearest to commercial-scale deployment.

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Market materiality analysis

ADI evaluated global demand for methane, methanol, and polymers to ensure target pathways address sufficiently large commodity markets.

Key outcomes

  • Ranked products by commercial maturity and scalability, leading to a prioritized investment focus on carbon-to-concrete and thermochemical syngas.
Client Results
Unlike firms that provide recycled information, ADI delivers targeted data and real customer feedback. They focus exactly on what we care about rather than simply giving us what they think we want to hear.
Riley Hagan CEO, Ethanext

Industry experience

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ADI assessed the commercial viability of CCUS adoption across industrial source sectors, modeling project IRRs under varied Inflation Reduction Act 45Q credit scenarios. The analysis evaluated infrastructure constraints, such as pipeline access and Class VI permitting timelines, to identify high-probability retrofits in biofuels and gas processing. The client Global industrial equipment manufacturer The situation High […]

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Global energy transition digital spend outlook

ADI assessed a global energy transition capital spend and outlook through 2050, identifying the addressable market for digital technologies. The study analyzed how the shift toward fragmented, low-carbon infrastructure will impact the need for digital integration across intermittent renewables and energy storage systems. Modeling surfaced critical factors that will dictate the pace of digital adoption. […]

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Direct Air Capture technology and cost assessment

This work evaluated the levelized cost of capture across six Direct Air Capture categories, including liquid solvents (LDAC), solid sorbents (SDAC), and electrochemical systems. ADI analyzed the land and clean electricity requirements for scaling to Gtpa milestones, highlighting the infrastructure bottlenecks and energy-intensity trade-offs of leading configurations. The client Integrated energy company The situation Rapidly […]

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Cryogenic equipment market outlook

This assessment forecasted global demand for cryogenic heat exchangers and pumps across LNG, CCUS, and hydrogen liq\uefaction applications. ADI evaluated the cyclical nature of large-scale LNG capex alongside the rapid scale-up of blue hydrogen projects that rely on cryogenic CO2​ separation. The work assessed the role of high-efficiency coil-wound exchangers and brazed aluminum designs for […]

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Carbon dioxide conversion pathways techno-economic assessment

ADI prioritized nine CO2​-to-value pathways, ranging from carbon mineralization for cement to electrochemical routes for circular fuels. The work assessed the energy intensity and technology readiness of photocatalysis and chemo-enzymatic conversion. Analytical modeling of breakeven costs was conducted to identify the most commercially attractive products in the near-term. The client Global investment firm The situation […]

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