Exxon Mobil and Mosaic Materials said on Aug. 27 that they have entered into an agreement to explore the advancement of breakthrough technology that can remove CO₂ from emissions sources.
Mosaic Materials has progressed research on a unique process that uses porous solids, known as metal-organic frameworks, to separate CO₂ from air or flue gas. The agreement with Exxon Mobil will enable further discussion between the two companies to evaluate opportunities for industrial uses of the technology at scale.
“New technologies in carbon capture will be critical enablers for us to meet growing energy demands, while reducing emissions,” said Vijay Swarup, vice president of research and development for Exxon Mobil Research and Engineering Co.
“Our agreement with Mosaic expands our carbon capture technology research portfolio, which is evaluating multiple pathways—including evaluation of carbonate fuel cells and direct air capture—to reduce costs and enable large-scale deployment. Adding Mosaic’s approach will allow us to build on their work to evaluate the potential for this technology to have a meaningful impact in reducing carbon dioxide emissions.”
“Through this agreement with Exxon Mobil, we look to accelerate the pace of our development and demonstrate the business and environmental benefits that our technology can offer,” said Thomas McDonald, CEO of Mosaic Materials. “Our proprietary technology allows us to separate carbon dioxide from nearly any gas mixture using moderate temperature and pressure changes, substantially increasing energy efficiency and decreasing costs.”
Mosaic Materials’ agreement with Exxon Mobil is part of Mosaic’s commitment to accelerate the impact of its innovative, low-cost technology, and is Mosaic’s latest direct engagement with companies across a range of industries to demonstrate both the cost reductions and the environmental benefits of employing Mosaic’s solutions.
This engagement builds upon Exxon Mobil’s extensive portfolio—in collaboration with startups, academia and governments—to develop next-generation energy technologies that improve energy efficiency and reduce greenhouse gas emissions. Exxon Mobil supports Cyclotron Road, a fellowship for entrepreneurial scientists that is managed in partnership between Lawrence Berkeley National Laboratory and Activate, an independent nonprofit.
Exxon Mobil also recently announced a 10-year, up to $100 million agreement to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.
For more than 30 years, Exxon Mobil engineers and scientists have researched, developed and applied technologies that could play a role in the widespread deployment of carbon capture and storage. With a working interest in approximately one-fifth of the world’s total carbon capture capacity, Exxon Mobil has been able to capture about 7 million tonnes per year of CO₂ and has cumulatively captured more of it than any other company since 1970.
Production, volumes to process and move, EBITDA are all vulnerable in the near term, says Alerian.
Combined with a shaky outlook for the world economy and trade tensions, the campaign to push institutional investors to withdraw from fossil fuel stocks has contributed to driving down share prices.
Midstream energy firm Tallgrass Energy said on Aug. 27 it had received an offer from Blackstone Infrastructure Partners, its partners and affiliates to acquire the shares in Tallgrass that they do not already own.