ExxonMobil and Global Thermostat to Advance Breakthrough Atmospheric Carbon Capture Technology
June 27 2019 - 9:00AM
Business Wire
- Technology removes carbon dioxide from industrial sources and
the atmosphere
- Companies to evaluate potential scalability
- Applications could extend across multiple industrial
sectors
ExxonMobil and Global Thermostat said today that they have
signed a joint development agreement to advance breakthrough
technology that can capture and concentrate carbon dioxide
emissions from industrial sources, including power plants, and the
atmosphere.
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the full release here:
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The companies will evaluate the potential scalability of Global
Thermostat’s carbon capture technology for large industrial use. If
technical readiness and scalability is established, pilot projects
at ExxonMobil facilities could follow.
“Advancing technologies to capture and concentrate carbon
dioxide for storage and potential industrial use is among a suite
of ExxonMobil research programs focused on developing
lower-emissions solutions to mitigate the risks of climate change,”
said Vijay Swarup, vice president of research and development for
ExxonMobil Research and Engineering Company.
“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.”
ExxonMobil and Global Thermostat are also exploring
opportunities to identify economic uses for captured carbon
dioxide.
“Scaling solutions that can address climate change globally
requires significant investment, innovation and collaboration,”
said Peter Eisenberger, chief technology officer and co-founder of
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 realize that vision.”
ExxonMobil’s partnership with Global Thermostat expands the
company’s collaborative efforts with other companies and academic
institutions that are focused on developing new energy
technologies, improving energy efficiency and reducing greenhouse
gas emissions. The company recently committed to spend up to $100
million over 10 years on research with the U.S. Department of
Energy’s National Renewable Energy Laboratory and National Energy
Technology Laboratory to bring lower-emissions technologies to
commercial scale. Since 2000, ExxonMobil has invested more than $9
billion in energy efficiency and lower-emission technologies such
as carbon capture and next generation biofuels. ExxonMobil also
works with about 80 universities around the world to explore
next-generation energy technologies.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter at
www.twitter.com/exxonmobil.
About Global Thermostat
Formed in 2010, Global Thermostat (GT) is commercializing its
advanced, multi-patented technology to transform Carbon Dioxide
from a global liability into an opportunity for global prosperity.
Using its proven, breakthrough technology, GT economically captures
and concentrates CO2, enabling its profitable re-use across
multiple large & growing industries – reducing harmful
emissions, and helping to close the global carbon cycle.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, the development, implementation
and results of new technologies, including efficiency gains and
emission reductions, could vary depending on the outcome of further
research and testing; the development and competitiveness of
alternative technologies; the ability to scale pilot projects on a
cost-effective basis; political and regulatory developments
including actions that may favor certain types of technologies over
others; actions of competitors; the outcome of commercial
negotiations; and other factors discussed in this release and under
the heading “Factors Affecting Future Results” on the Investors
page of ExxonMobil’s website at exxonmobil.com.
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ExxonMobil Media Relations, 972-940-6007
Global Thermostat, 646-798-6217
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