Business models

This research theme investigates the role of business models as a way of scaling the Greenhouse Gas Removal (GGR) industry quickly in ways that create economic, social and environmental value. Which business models are attractive to investors? Which business models will be robust in different policy scenarios? How can policy support innovation in business models over time as the industry evolves? And what challenges are entrepreneurs facing as they experiment with business models for different GGR solutions?



CO2RE is mapping both what the sector needs in the future (e.g. business models to scale different technologies and associated policy interventions) and what is currently happening in terms of the entrepreneurship, investment and collaboration landscape (e.g. value chain and venture maps).  This work allows us to see where potential  challenges are emerging, and to shape these challenges through responsive collaborations with GGR developers, businesses and investors.


Researchers on business models will deliver the following outputs:

· Viability of different GGR business models under different policy scenarios 

· Value chain and venture maps for stakeholders to understand value flows, patterns of entrepreneurship, and collaborations across different GGR technologies

· Guidelines for policymakers to support business model innovation

Technology venture maps

Technology venture maps created by Mike Hutson ( for CO2RE, with grateful thanks to Net Zero Insights for the data.


Dr Aoife Brophy

Dr Aoife Brophy

University of Oxford

Dr Mark Workman

Dr Mark Workman

Imperial College London

Astha Wagle

Astha Wagle

University of Oxford

Related publications

Deployment support for geological Greenhouse Gas Removals (GGR) in the UK (2022)

Nijia Zhou, Mirte Boot, Conor Hickey, Sam Fankhauser, Anupama Sen, Steve Smith
Establishing a large-scale Greenhouse Gas Removal sector in the United Kingdom by 2030: First mover dilemmas (2022)
Mark Workman, Devon Platt, Uday Reddivari, Bianca Valmarana, Steve Hall, Rob Ganpatsingh
Permission to Say “Capitalism”: Principles for Critical Social Science Engagement With GGR Research (2021)
Stephen Hall, Mark Davis

Bringing society together around the creation of a UK carbon removal sector (2022)

Mark Workman