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.
The divestment of Exxon Mobil only applies to LGIM's Future World Funds which it says are set up for clients who want to express a conviction on ESG themes.
There was no immediate claim of responsibility for the attack near Iraq’s southern city of Basra, the fourth time in a week that rockets have struck near U.S. installations.
Limited number of contractors could put some of the $200 in projects at risk.