Maersk Drilling has entered into an agreement to invest $1m in California-based Clean Energy Systems to help develop a new technology which it believes could help customers move towards carbon-neutral drilling.
The Carbon-Negative Energy concept is based on using biomass waste as fuel to produce syngas, from which renewable natural gas and hydrogen is separated for sale. The resulting hydrogen-depleted syngas will then be used to produce electricity with full capture of CO2 emissions.
By using fuel that consumes CO2 over its lifetime, combined with safe and permanent CO2 storage, the process results in net-negative emissions, efficiently removing CO2 from the atmosphere.
“By investing in Clean Energy Systems’ concept, we are helping to bring alive a new technology which can remove CO2 from the atmosphere,” explained Morten Kelstrup, Chief Operating Officer of Maersk Drilling.
“We believe the world needs a broad portfolio of technologies and solutions to meet the challenge posed by climate change, and by engaging in this project, we support the development of carbon capture and storage in a way that could allow us to progress towards carbon-neutral drilling.”
A full-scale deployment of the Carbon-Negative Energy concept will produce renewable fuel and power, and simultaneously remove greenhouse gases from the atmosphere. The net negative carbon emissions can then be converted into carbon credits.
“We are very excited to work with Maersk Drilling on these innovative projects to remove CO2 from the atmosphere in the near term, while producing renewable transportation fuels,” said Keith Pronske, President and CEO of Clean Energy Systems.
“Carbon-Negative Energy can be a key contributor to helping companies meet their net carbon zero goals, and these projects can be replicated in Europe and other markets.”