On the Role of Startups in Global CCUS Development and Deployment: An Exploratory Analysis from the Southeast Asian Perspective

Carbon emissions concerns have made carbon capture, utilization, and storage (CCUS) an alternative to utilizing carbon for industrial and non-industrial purposes. Efforts have been made despite limitations to understand the CCUS ecosystem in the Association of Southeast Asian Nations (ASEAN). The main aim of this study is to understand the CCUS ecosystem globally and draw lessons for ASEAN. It begins by covering existing CCS frameworks in different countries and drawing learnings for ASEAN. Then, it focuses on the exploratory role of cleantech startups, particularly firms directly involved in CCS development and deployment. Funding, patents, and trademarks complement each other, and the role of human capital, i.e., education and founders’ experience, is visible, making the role of educational institutions crucial. It is advisable to devise provisions for knowledge collaboration and inter-university accelerator programs to promote entrepreneurship and develop programs to train the necessary human resources. The study cites the need to promote professional expertise, for which ASEAN may create a separate fund for developing and deploying CCUS through endogenously grown startups.