Our planet is still heavily reliant on the burning of fossil fuels in order to generate energy. With the burning of fossil fuels comes the emission of harmful gases that can continue to alter the climate of our planet. A technology that we currently have access to that can help mitigate the harm of burning fossil fuels known as carbon capture and storage, or CCS. Carbon capture technologies remove carbon from the atmosphere and either permanently store the carbon underground or re-purpose the carbon for use in other sectors.

With the advancement of technology, the lucrative business of capturing carbon will soar in the coming decades. 

Some stocks to watch in this sector:

Equinor (NYSE:EQNR)

Equinor (NYSE:EQNR) , a large oil and gas producer, is also a major player in the carbon capture technology market. As the owner of the oldest CCS facility in the world, the Norwegian oil company is a pioneer in the CCS. It has been working on the technology for the past 20 years, and it currently participates in 40 carbon capture and storage projects.

The company's recent deal with the United States Steel Corporation to research the development of the technologies demonstrates its commitment to the expansion of clean hydrogen and carbon capture and storage.

Viking Energy Group (OTC:VKIN)

For those looking for a smaller stock with big upside potential look to Viking Energy Group (OTC:VKIN). While VKIN possesses conventional oil and gas assets worth $96 million, this company has considerably more to offer than a conventional, single-play energy corporation would normally have to offer. The goal of VKIN is to generate value by assembling a diversified portfolio of cutting-edge, environmentally friendly energy solutions.

VKIN has strategically acquired businesses and technology over the past year in order to increase its market share. VKIN has established itself as an appealing investment for investors wishing to add an ESG company from the energy sector to their watchlist with each of these actions.

Earlier this year, VKIN acquired a New Patent for Advanced Bottoming Cycle Power Generation, and Carbon Capture Technology. The new patent details concerns a Bottoming Cycle Power System and its related impact to carbon capture technology. This is the latest patent acquired for ESG's portfolio of advanced power generation technologies designed to make natural-gas fueled power generation maintain high efficiency without losing energy in the carbon capture process, and for the process of capturing carbon dioxide to be more economically feasible and environmentally friendly

VKIN doesn't want to risk failure with new technologies that haven't been tried yet or with companies that don't have enough money, so it's focusing on assets that have already been tried and tested to bring change to the energy sector and more money to its investors.

VKIN's strategy is to work with companies that are creative and committed to finding sustainable energy solutions and reducing their overall carbon footprint. Firms that possess these “ready-to-market” solutions bring an already established customer base and, with it, strong streams of cash, making VKIN a CCS stock to watch.

Aker Carbon Capture ASA (OTC:AKCCF)

Aker Carbon Capture (OTC:AKCCF) is a company solely focused on carbon capture technology. The business has a clear focus on scaling its solutions while adhering to the Paris Agreement. It wants to cut the amount of carbon that its carbon capture technologies use by half by 2030 and become "net negative."

The company currently has two main products: The Big Catch and Just Catch. The Just Catch has a capacity of 40,000 to 100,000 tons per year, but the Big Catch has a capacity of over 400,000 tons.

Even though ACC focuses on the rich market in northern Europe right now, it will soon be in North America as well. Additionally, the business has located approximately 700 emitters in Europe. In addition, by 2025, it hopes to sign contracts for 10 million tons annually.

Delta CleanTech (CSE:DELT)

Delta CleanTech (CSE:DELT), which has been around since the early 2000s, has been selling commercial CO2 collection technology since 2005. Delta CleanTech has set itself up as one of the leading experts in CO2 carbon capture, solvent and glycol reclamation, and carbon credit trading. The company has projects in Canada, the US, the UK, the UAE, Australia, and China. 

The company broke away from its parent company, HTC Extraction Systems, earlier this year so that its sales and technical teams could grow. In March, a $7.5 million investment round was completed. Delta CleanTech submitted a prospectus to Canadian authorities back in March to be listed on the CSE.

Schlumber Limited (NYSE:SLB)

Schlumber Limited (NYSE:SLB) is a technology company that specializes in energy access. SLB has 80 years of experience in the business of mapping, measuring, and modeling underground rock formations. They also give their customers in the oil and gas business technology for eliminating carbon dioxide from the atmosphere.

The business has teamed up with companies like LafargeHolcim, Chevron, and Microsoft to develop technologies that can capture and store carbon. It says it is diversifying its portfolio of clean energy projects in certain markets and regions where policies make them desirable. It continues to invest in new energy technology projects and creative partnerships in a wide range of markets around the world.

Carbon capture stocks may turn out to be very profitable investments in the future. The carbon capture and storage market is expected to grow from $2 billion to $7 billion in the next 6 years.

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