ExxonMobil and Global Thermostat have signed a joint development agreement to work on developing carbon capture technology.
The US-based companies will evaluate the potential scalability of Global Thermostat’s carbon capture technology for large industrial use.
The technology carbon dioxide from industrial sources and the atmosphere, and if technical readiness and scalability is established, pilot projects at ExxonMobil facilities could follow.
“Scaling solutions that can address climate change globally requires significant investment, innovation and collaboration,” said Peter Eisenberger, chief technology officer and co-founder of New York-based Global Thermostat.
“Global Thermostat’s game-changing direct-air capture and flue gas capture technologies offer a way to transform the risks associated with carbon dioxide emissions into a global solution that could satisfy both business and environmental objectives. By partnering with ExxonMobil, we’re harnessing the expertise and capabilities of one of the world’s largest energy companies to accelerate our ability to realise that vision.”
Texas-based ExxonMobil recently committed to spend up to $100 million over 10 years on research with the US Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory to bring lower-emissions technologies to commercial scale.
Vijay Swarup, vice president of research and development for ExxonMobil Research and Engineering Company, said, “Our scientists see potential in this exciting technology that could lead to more affordable methods to reduce emissions in power generation and manufacturing, along with removing carbon dioxide from the atmosphere.”