Baker Hughes today (3rd Nov) said it is buying Compact Carbon Capture (3C) as the American energy technology company looks to shift its portfolio towards greener fuels.
A Norwegian carbon capture technology specialist, Baker Hughes said 3C’s technology can address CO2 capture from different emission sources and can contribute significantly to the decarbonisation of customers’ operations.
3C’s technology differs from traditional carbon capture solvent-based solutions by using rotating beds instead of static columns, effectively distributing solvents in a compact and modularised format.
The rotating bed technology enhances the carbon capture process resulting in up to 75% smaller footprint and lower capital expenditures.
In addition, 3C’s modular and scalable configuration can be easily deployed into existing brownfield applications and can be optimised for a broad range of capacity and applications, including offshore and industrial emitters.
As part of the agreement, Baker Hughes will accelerate the development of the technology, leading to commercial deployment for customers globally.
“This agreement highlights our deliberate and disciplined approach to invest in the energy transition,” said Lorenzo Simonelli, Chairman and CEO of Baker Hughes.
“We are positioning our portfolio for new energy frontiers, and we believe there will be strong growth potential of carbon capture for both industrial applications and oil and gas projects.”
“By incubating 3C’s technology, we can develop a roadmap to provide one of the industry’s lowest cost per ton carbon capture solutions.”