Exxon, Japan's Mitsubishi Heavy tie-up in carbon capture technology

https://www.reuters.com/markets/carbon/exxon-japans-mitsubishi-heavy-tie-up-carbon-capture-technology-2022-11-29/

TOKYO, Nov 30 (Reuters) - Japan's Mitsubishi Heavy Industries (MHI) is allying with ExxonMobil Corp to use MHI's carbon dioxide (CO2) capture technology for ExxonMobil's end-to-end carbon capture and storage (CCS) solution, the companies said in a statement.

The venture will get support from Japan's Kansai Electric Power Co (KEPCO), they added, with the technology aiming to cut the costs of CO2 capture for heavy-emitting industrial customers.

The move comes as companies around the world step up efforts to develop carbon capture and storage (CCS) technology to help combat climate change.

CCS technology has been used for years, often to enhance oil well production rates, but rising carbon prices in regions such as Europe have lifted hopes it might take off as a stand-alone business in the future.

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Beginning of the end of EM.

US tax dollars flowing to foreign companies via the IRA. Lovely! And where exactly are they going to store all of this carbon? Scam of the century.

It's all MHI capture technology from what I can tell. EM has not been supportive in this area for a number of year.

Not sure what EM brings to the table except the transport and storage of CO2.

Yawn.

MHI have been marketing this for years, and I assume ths is all their own heritage IP. What is the EM contribution here please?

We partnered with a corporation that knows something about carbon capture. Hopefully, we are abandoning the other carbon capture start-up companies that turned out to be managed by dysfunctional owners and CEO's.

About Mitsubishi Heavy Industries CO2 capture technology

MHIENG (originally MHI), together with The Kansai Electric Power Co., Inc., has been developing CO2 capture technologies – KM CDR Process™ and Advanced KM CDR Process™ – since 1990. As of March 2022, MHIENG has delivered 13 plants adopting the KM CDR Process™, and three more are under construction, making MHIENG a global leader in this field.

For further information, see:

https://www.mhi.com/products/engineering/co2plants.html

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Exxon, Japan's Mitsubishi Heavy tie-up in carbon capture technology

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