ION Clean Energy, a carbon capture and removal technology company, has secured an investment from Chevron New Energies as part of a funding round that brought in $45 million.

Chevron, which led the funding round, said on April 4 it intends to use ION’s ICE-31 liquid amine carbon capture technology to service customers with high volume and low concentration CO2 emissions. The energy company said the investment also gives it a chance to partner with ION customers on projects and help scale the technology.

Amine-based carbon capture uses an amine solvent to remove CO2 from flue gas. Colorado-based ION says its solvent has great stability, bonds faster with CO2 and requires less energy for operation.

“ION’s solvent technology, combined with Chevron’s assets and capabilities, has the potential to reach numerous emitters and support our ambitions of a lower carbon future,” said Chris Powers, vice president of CCUS and emerging, at Chevron New Energies. “We believe collaborations like this are essential to our efforts to grow carbon capture on a global scale.”

ION specializes in post-combustion carbon capture technologies.

Capital raised will fund organizational growth at ION, which also on April 4 named Timothy Vail as its CEO, and commercial deployment of its ICE-31 liquid amine carbon capture technology for hard-to-abate emissions, according to a news release.

Chevron said the investment adds conventional amine-based capture technology to its technology portfolio. The company is involved in several carbon capture projects, including the Bayou Bend CCS hub joint venture in Texas as well as the Eastridge, Kern River and McKittrick carbon capture projects in California. It is also among the industry partners looking to deploy large-scale CCS in the Houston area.

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