Global Thermostat and ExxonMobil have announced the signing of a joint agreement aimed at progressing carbon-capture technology.
Global Thermostat has developed breaking technology with the express purpose of capturing carbon dioxide, both from the atmosphere and industrial sources, such as gas-fired power stations, and then concentrate the carbon gas. Under the agreement, the two firms will assess the feasibility of this technology for industrial use at scale. Additional projects at ExxonMobil facilities are likely to follow if it is found to be scalable and technically ready.
Speaking for ExxonMobil Research and Engineering Company, its vice president of research and development, Vijay Swarup, said:
“Advancing technologies to capture and concentrate carbon dioxide for storage and potential industrial use is among a suite of ExxonMobil research programs focused on developing lower-emissions solutions to mitigate the risks of climate change.”
He added that the oil major’s scientists believe this technology, in addition to removing carbon directly from the atmosphere, could potentially deliver more economical ways to limit emissions from manufacturing and power-generation activities. In addition, the two companies will also seek to find economic applications for the carbon captured.
ExxonMobil, which also makes high-performance gear and bearing oils like Mobil SHC Gear 220, is already engaged with various companies and around 80 academic institutions around the world in developing new technologies to reduce the emission of greenhouse gasses and improve energy efficiency. It has invested over $9 billion since 2000 in such projects and recently announced a $100 million commitment over 10 years to two laboratories under the US Department of Energy.