Green Chemical is showing strong performance. This is interpreted as being influenced by news that the United States is effectively mandating the installation of carbon capture facilities at coal-fired power plants.
As of 9:49 AM on the 24th, Green Chemical is trading at 12,270 KRW, up 2.25% compared to the previous day.
According to foreign media, the White House Office of Management and Budget (OMB) is currently reviewing the Environmental Protection Agency's (EPA) proposed stricter regulations on greenhouse gas emissions from coal-fired power plants. Industry insiders expect that coal-fired power plants will widely install carbon capture devices to comply with the new regulations.
Carbon capture technology has not been widely adopted due to cost issues. In fact, out of about 3,400 coal-fired power plants in the United States, only 20 have installed carbon capture devices. Globally, there are only about 40 power plants equipped with this facility.
However, recently, the Biden administration has invested billions of dollars in research and demonstration projects to advance the technology. Additionally, through the Inflation Reduction Act (IRA) enacted last year, the federal government's tax credit for companies capturing carbon from the atmosphere was significantly increased from $85 to $135 (approximately 180,000 KRW) per ton of CO2.
Meanwhile, Green Chemical is known to have secured CCU technology, which goes a step further than carbon dioxide capture.
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