Limenet is entering a rapidly changing market. Among the most likely scenarios, Limenet provides the use of CO₂ industrial source of players that need ‘reduce’ emissions or operate in partnership with players DAC (Direct Air Capture). Limenet’s product, however, is focused on the production of “decarbonized calcium hydroxide” which can be used both for the storage of CO₂ from external sources and for the capture and storage of CO₂ from flue gas or from the atmosphere.

The current business model with a completely immature market involves the management of the (capital intensive) facilities for the production of decarbonized calcium hydroxide. The same calcium hydroxide can be used in different ways to achieve negative emissions or the sole storage of CO₂. With the increase of the level of maturity of the market will open presumably other opportunities and other models will be evaluated.

Both technologies start from the same raw material: Calcium Carbonate. This, once transformed into calcium hydroxide is used to make calcium bicarbonates as a solution to remove CO₂.  However, the differences between the two methods are many: Liming involves the shedding of decarbonized calcium hydroxide in the wake of a ship. The mixing given by the turbulence of the ship facilitate the hydroxide exchange of CO₂ with the ocean surface allowing the formation of calcium bicarbonates. Limenet instead provides for the controlled introduction of a flow of CO₂ in reactors with seawater and calcium hydroxide. The alkaline solution with the CO₂ stored in the form of bicarbonates is measured and then dispersed at sea. In the following table we can see the characteristics and differences between the two methods:

	Liming	Limenet
Method	Calcium hydroxide dispersion in the wake of a vessel	Introduction of CO₂, calcium hydroxide and seawater in reactors where calcium bicarbonates are converted in a controlled way
Monitoring	N/A	Industrial monitoring with pH, Turbidity, Alkalinity and TIC sensors
Process efficiency	70%	95%
Chemical efficiency	70%	95%
Chemical stability	10’000 – 100’000 yrs	10’000 – 100’000 yrs
pH	10-12	8.15 – there is no alteration of the marine pH
Secondary precipitation	Absent if the solution is diluted quickly under omega 5	Absent
Biotic precipitation	Present because the addition of alkalinity is in the photic zone	It depends on the depth of the discharge point. If under the photic zone is absent
CO₂ exchange with the atmosphere	Still uncertain	Not necessary because the alkaline solution is already balanced with the atmosphere

Given the industrial, chemical, technological and reporting complexities of Limenet carbon capture and storage technology, it was decided that, in order to give maximum monitoring and reporting quality, a monitoring protocol should be implemented, reporting and verification called MRV (Monitoring Reporting & Verification). This protocol, based on ISO 14064 Part 2, reports the additionality of the project and its effective removal of CO₂ (measured directly, industrially). In Limenet we started the road of realization of our MRV with the support of consulting companies Egenia s.r.l. Subsequently it will be verified by a third company. The MRV verification process will take place on the first TRL7 plant.

Limenet NFTs are digital certificates and should not be considered as speculative assets but as a different methodology to realize a certificate of negative emissions. NFT certification will be present in the MRV verification protocol.

In Limenet a credit is created after the industrial plant has stored the CO₂. Upstream of the removal of CO₂ there will have been the process of monitoring, reporting and verification of the industrial plant by a third party. Limenet will not act as a certifying body.

Limenet SB decided to implement a system of tracking negative CO₂ emissions through the blockchain. The motivation is to give transparency to the customer on the carbon certificate purchased by Limenet. Currently, the blockchain is used by other companies as a decentralized registry of information regarding the purchase or sale of CO₂ credits. In Limenet we have created a system for tracking the production chain of decarbonised hydroxide and then of the stored CO₂. If CO₂ comes from air or is a biogenic CO₂ (biogas), negative emissions are referred to. For example, starting from a batch of calcium carbonate and biogenic CO₂, we trace its transformation into decarbonised calcium hydroxide and then into negative CO₂ emissions. This, once certified, becomes an NFT with inside all the industrial information related to its realization. The customer who buys the NFT can check on the blockchain all the information related to its negative CO₂ emission: from what raw material was produced, to where it was processed, how much electricity it used etc. The final added value is to give the customer more information about the negative CO₂ certificate. Not only will you know that the certificate is verified by a third party but you will also have detailed information about how it was done.