Schlumberger, Chevron, Microsoft Eye Biomass Plant In California
By Micah Maidenberg
Two companies tied to the oil market and Microsoft Corp. plan to
develop a power plant in California they say will produce a
negative amount of carbon emissions, the latest example of big
companies experimenting with new energy projects.
A unit of oilfield services company Schlumberger Ltd., Chevron
Corp. and Microsoft said Thursday they will open a bioenergy plant
in Mendota, Calif., that converts agricultural waste such as almond
trees into a gas that, when combined with oxygen, will generate
electricity. Clean Energy Systems, which focuses on deploying
energy developments that cut carbon, is also part of the effort,
the companies said in a statement.
Many large corporations have been moving into renewable energy
markets, pushed at times by investors concerned about
sustainability and with an eye on potential new regulations
designed to limit carbon emissions that cause climate change.
General Motors Co., for example, said Thursday it is looking to
develop a second battery plant with LG Chem Ltd. in the U.S., while
Exxon Mobil Corp. said Wednesday it now believes that capturing
carbon emissions will be a real business opportunity for it.
Virtually all of the carbon created from the conversion at the
proposed California plant is expected to be captured and injected
underground, the companies said Thursday.
They said the process is designed to result in net-negative
carbon emissions, effectively removing greenhouse gas from the
atmosphere. On an annual basis, the plant is expected to remove
about 300,000 tons of carbon dioxide annually, equivalent to the
emissions from electricity use in some 65,000 homes.
Schlumberger, Chevron and the other companies involved in the
project plan to make a final investment decision about building the
plant next year. Then, they said they would evaluate other
opportunities to "scale this carbon capture and sequestration
Write to Micah Maidenberg at email@example.com
(END) Dow Jones Newswires
March 04, 2021 09:48 ET (14:48 GMT)
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