ExxonMobil (NYSE:XOM) and Mitsubishi Heavy Industries (MHI) have joined forces to deploy MHI’s leading CO2 capture technology as part of ExxonMobil’s end-to-end carbon capture and storage (CCS) solution for industrial customers.
- ExxonMobil will deploy carbon capture technology developed by Mitsubishi Heavy Industries.
- The energy company will use it as part of its end-to-end carbon capture and storage solution for industrial customers.
- The carbon capture market continues to grow as companies in the hard-to-abate sectors find ways to prevent unavoidable emissions from entering the atmosphere.
The pair said Tuesday that they have agreed to leverage their combined operating and engineering experience and core science capabilities with the support from The Kansai Electric Power Co., Inc. (KEPCO) to advance carbon capture technologies that could reduce the cost of CO2 capture for heavy-emitting industrial customers. “The joint effort will build upon KM CDR Process® and Advanced KM CDR Process®, developed by MHI and KEPCO, the only liquid amine carbon capture technology commercially demonstrated at greater than 1 million metric tons per year,” ExxonMobil said in a statement.
“We’re excited to offer our large industrial customers the only complete carbon capture, transportation and storage solution in the market,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “Adding Mitsubishi Heavy Industries’ leading carbon capture technology to ExxonMobil’s transportation and storage capabilities enables this compelling offering.”
However, Syrie Crouch, vice president CCS at Shell, noted on Linkedin following the announcement “happy to see this, but would like to clarify that this is not entirely correct, as Shell has its own capture technology, and transport and storage capabilities and is also offering fully integrated solutions.”
ExxonMobil said it has more than 30 years of experience capturing and transporting CO2 and safely injecting it into geological formations. “Mitsubishi Heavy Industries is the world’s largest licensor of post-combustion CO2 capture technology and has been developing it for more than three decades. The company’s record includes 14 commercial CO2 capture plants already delivered worldwide,” added ExxonMobil.
“ExxonMobil and MHI have worked together to build world-scale petrochemical plants over the past two decades in Baytown, Corpus Christi and Singapore. This CCS partnership continues the companies’ commitment to developing solutions for the energy transition on their paths to net zero,” said ExxonMobil.