BHP has announced a $6m investment in Carbon Engineering Ltd, a Canadian-based company specialising in the development of direct air capture.
Carbon Engineering focuses on the commercialisation of technology that captures carbon dioxide (CO2) directly from the atmosphere, and a second technology that synthesises it into clean, affordable transportation fuels.
“BHP is committed to accelerating the global response to climate change by investing in emerging technologies that have the potential to lead to material reductions in greenhouse gas emissions,” said Fiona Wild, BHP’s Vice-President, Sustainability and Climate Change.
“As the Intergovernmental Panel on Climate Change (IPCC) stated in late 2018, if we are to avoid the worst effects of climate change, technologies that capture and remove CO2 will be required. Direct Air Capture (DAC) offers flexibility and potential and could play a vital role in reducing future global emissions. We hope that that this investment can accelerate the development and adoption of this technology,” said Wild.
“BHP’s global reach and experience in executing complex projects, as well as their strategic commitment to reducing emissions make them an ideal partner to help us accelerate the commercialisation and use of Carbon Engineering’s technologies,” said Steve Oldham, Carbon Engineering’s CEO.
“We’re looking forward to working with BHP and our other partners as we progress the development of DAC and AIR TO FUELS™ facilities, and ultimately achieve our goal of delivering affordable, carbon-neutral fuels and significant emissions reductions around the globe,” said Oldham.
Carbon Engineering has been removing CO2 from the atmosphere since 2015 and converting it into fuels since 2017.
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