Total and IFPEN Team Up to Accelerate Carbon Reduction R&D
July 09 2019 - 6:30AM
Business Wire
Regulatory News:
IFP Energies Nouvelles (IFPEN) and Total (Paris:FP) (LSE:TTA)
(NYSE:TOT) announce that they signed a strategic R&D
partnership yesterday, that includes an agreement to endow a chair
at the IFP School, on carbon capture, utilization and storage
(CCUS) and technologies to curb CO2 emissions. The roughly €40
million partnership covers a period of five years.
The agreement has two parts:
- A strategic R&D partnership on
carbon capture, utilization and storage (CCUS) aims to reduce
the cost of infrastructure and improve the CCUS chain’s energy
efficiency to secure its large-scale deployment. The partnership
steps up the long-standing collaboration between Total and IFPEN by
marshaling additional resources. The research will focus on fields
related to new materials, process scale-up, underground carbon
storage in deep saline aquifers, technical and economic feasibility
studies and the quantification of environmental benefits for the
entire CCUS chain.
- The Carbon Management and Negative CO2
Emissions Technologies to Net-Zero Carbon Future Chair will
help train a new generation of international researchers and
experts who will develop technologies to reduce carbon in the
atmosphere. Overseen by a scientific committee comprised of
world-renowned, independent experts, the chair will bring together
seven doctoral and five post-doctoral researchers for five
years.
Following the signature of the agreement, Patrick Pouyanné,
Chairman and CEO of Total, stated: “We are delighted to accelerate
the R&D partnership between Total and IFPEN. We want to pool
our innovation capabilities to reduce the cost of CCUS technologies
and improve their efficiency — both of which are necessary for
large-scale deployment. Total wants to help make the planet carbon
neutral and boost the competitiveness of an industrial-scale CCUS
sector.”
Didier Houssin, Chairman and CEO of IFPEN, commented: “IFPEN has
been actively researching carbon capture, utilization and storage
technologies for nearly 20 years. Our strengthened partnership with
Total will allow us to combine our teams’ skills and know-how with
Total’s and thus to accelerate the deployment of CCUS technologies,
which are a key solution for drastically cutting CO2
emissions.”
According to the International
Energy Agency’s (IEA) Sustainable Development Scenario, which
corresponds to a less than 2°C rise in the global average
temperature, it will be necessary to capture and store 6 billion
tons of carbon by 2050. This will require developing viable,
cost-competitive CCUS technologies.
About IFPEN
IFP Energies nouvelles (IFPEN) is a major research and training
player in the fields of energy, transport and the environment. From
research to industry, technological innovation is central to all
its activities, structured around three strategic priorities:
sustainable mobility, new energies and responsible oil and gas.
About Total
Total is a major energy player that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total”, “Total Group” and
Group are sometimes used for convenience. Likewise, the words “we”,
“us” and “our” may also be used to refer to subsidiaries in general
or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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