ExxonMobil Corp. and Global Thermostat (GT) announced Thursday they are collaborating on breakthrough technology to capture and concentrate carbon dioxide (CO2) emissions from industrial sources, including power plants, and the atmosphere.
The joint development agreement would evaluate the potential scalability of GT’s carbon capture technology for large industrial use. If technical readiness and scalability are established, pilot projects at ExxonMobil facilities could follow.
“Advancing technologies to capture and concentrate carbon dioxide for storage and potential industrial use is among a suite of ExxonMobil research programs focused on developing lower-emissions solutions to mitigate the risks of climate change,” said ExxonMobil’s Vijay Swarup, vice president of research and development for the Research and Engineering Co.
“Our scientists see potential in this exciting technology that could lead to more affordable methods to reduce emissions in power generation and manufacturing, along with removing carbon dioxide from the atmosphere.”
The partners also are exploring opportunities to identify economic uses for captured carbon dioxide. Formed in 2010, GT is commercializing its technology to transform CO2 from a “global liability into an opportunity for global prosperity.” GT said it now is able to economically capture and concentrate CO2, enabling its profitable re-use across multiple industries to reduce emissions and help “to close the global carbon cycle.”
“Scaling solutions that can address climate change globally requires significant investment, innovation and collaboration,” said GT’s Peter Eisenberger, chief technology officer and co-founder of the New York City-based firm.
“Global Thermostat’s game-changing direct-air capture and flue gas capture technologies offer a way to transform the risks associated with carbon dioxide emissions into a global solution that could satisfy both business and environmental objectives.
“By partnering with ExxonMobil, we’re harnessing the expertise and capabilities of one of the world’s largest energy companies to accelerate our ability to realize that vision.”
ExxonMobil’s partnership expands the supermajor’s collaborative efforts with other companies and academic institutions that are focused on developing energy technologies, improving energy efficiency and reducing greenhouse gas emissions.
The Irving, TX-based operator in May committed to spend up to $100 million over 10 years in a partnership with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory to bring lower-emissions technologies to commercial scale.
ExxonMobil said it has invested more than $9 billion since 2000 in energy efficiency and lower-emission technologies such as carbon capture and next generation biofuels. It also works with about 80 universities around the world to explore next-generation energy technologies.