Suncor invests in carbon capture technology firm Svante
Suncor Energy Inc. says it is investing in carbon capture technology company Svante Inc. as it looks for ways to reduce or offset greenhouse gas emissions from its extensive oil and gas operations.Suncor CEO Mark Little says its investment in Vancouver-based Svante will support the commercialization of a technology that could cut the cost of carbon capture, adding it will also be a collaborative partner.Calgary-based Suncor has targeted an emissions intensity reduction from its petroleum production of 30% by 2030 compared with 2014.Svante says Suncor is taking part in a funding round generating USD $25 million, bringing the total under its Series D financing to USD $100 million.It says it has attracted more than US$175 million in funding since it was founded in 2007 to develop its solid sorbent technology, which is to be used to capture carbon dioxide from flue gas, concentrate it, then release it for safe storage or industrial use, at half the capital cost of traditional engineered solutions.Svante CEO Claude Letourneau says in a news release the company's potential projects would capture CO2 from natural gas industrial boilers, cement and lime operations and industrial hydrogen facilities, spurred by tax credits and carbon pricing in Canada and the U.S.“Carbon capture is a strategic technology area for Suncor to reduce GHG emissions in our base business and produce blue hydrogen as an energy product,'' said Little.“An investment in Svante is expected to support the acceleration of commercial scale deployment of a technology that has the potential to dramatically reduce the cost associated with carbon capture.''Hydrogen is considered to be blue if the GHG emissions from fossil fuels used in its creation are offset by emission reductions, while green hydrogen is made with renewable energy sources.Svante says it also counts oilsands producer Cenovus Energy Inc.
NextDecade launches NEXT Carbon Solutions
NextDecade Corporation (NextDecade or the Company) announced the formation of NEXT Carbon Solutions, LLC (NEXT Carbon Solutions), a wholly owned subsidiary of NextDecade that is expected to:Develop one of the largest carbon capture and storage (CCS) projects in North America at NextDecade’s Rio Grande LNG project;Advance proprietary processes to lower the cost of utilizing CCS technology;Help other energy companies to reduce their greenhouse gas (GHG) emissions associated with the production, transportation, and use of natural gas; andGenerate high-quality, verifiable carbon offsets to support companies in their efforts to achieve net-zero emissions.NEXT Carbon Solutions’ CCS project is expected to reduce permitted CO2 emissions at Rio Grande LNG by more than 90% without major design changes to the Rio Grande LNG project.
Kinder Morgan forms Energy Transition Ventures group
Kinder Morgan, Inc. announced that it has formed a new Energy Transition Ventures group within Kinder Morgan to identify, analyze and pursue commercial opportunities emerging from the low-carbon energy transition.
BD3 CCS facility reaches 4 million tonne milestone
The following commentary by Brent Jacobs, P.Eng. is a statement on behalf of the International CCS Knowledge Centre. It takes courage to be first.
Valve World Americas Expo 2021 Plans
For over a decade, Valve World Americas Expo & Conference has continued to grow, establishing itself as the largest valve event and flow control educator in North America.