Irving, Texas-based Exxon Mobil Corp. on June 27 said it would partner with Global Thermostat to try to bring carbon capture technology to industrial scale.
It is the latest low-carbon investment for Exxon Mobil, which has come under criticism for its climate policies. Exxon Mobil did not say what the project would cost.
New York-based Global Thermostat’s technology uses chemicals called amines to capture and concentrate CO2 from flue gas at industrial facilities or directly from the atmosphere.
The companies hope to take technology tested on a small scale and bring it to large industrial plants, said Vijay Swarup, vice president of research and development for ExxonMobil Research and Engineering Co.
One goal is to pilot the technology at an Exxon Mobil industrial site such as refining and chemical plants. “In many of those systems you have a CO2-containing gas,” Swarup said.
Exxon Mobil in May also said it would spend as much as $100 million over 10 years on research with two U.S. Department of Energy laboratories to bring lower-emissions technologies to commercial scale.
Recommended Reading
Imperial Oil Names Exxon’s Gomez-Smith as Upstream Senior VP
2024-04-30 - Cheryl Gomez-Smith, currently director of safety and risk at Exxon Mobil’s global operations and sustainability business, will join Imperial Oil in May.
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Exxon Appoints Maria Jelescu Dreyfus to Board
2024-05-08 - Dreyfus is CEO and founder of Ardinall Investment Management, a sustainable investment firm, and currently serves on the board of Cadiz Inc. and Canada-based pension fund CDPQ.
ProPetro to Provide eFrac Services to Exxon’s Permian Operations
2024-04-29 - ProPetro has entered a three-year agreement to provide electric hydraulic fracturing services for Exxon Mobil’s operations in the Permian Basin.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.