Global trading and business investment company Sumitomo Corporation has joined forces with US-based direct air capture (DAC) firm Global Thermostat to develop a global business for carbon capture and sequestration (CCS).
With a signed Letter of Intent (LoI), the companies have agreed to identify and develop business opportunities in the US, Europe, the Middle East, and Asia markets, centred around Global Thermostat’s DAC technology.
At the end of 2022, Global Thermostat put its commercial-scale DAC facility into operation at its headquarters in Colorado, with capacity to capture more than 1,000 metric tonnes of carbon dioxide (CO2) annually.
Global Thermostat has also been recognised by the International Energy Agency (IEA) as one of the leading international companies developing large-scale DAC technology.
... to continue reading you must be subscribed
