Carbon Clean Solutions Limited (CCSL), a low-cost carbon dioxide (CO2) capture & separation technology, is pleased to announce the completion of an equity investment of USD $16 Million from three global investors, WAVE Equity Partners, Chevron Technology Ventures, and Marubeni Corporation.
The investment will be used to deliver an existing pipeline of global projects to lower emissions from the industry. CCSL will also invest in the development of “containerized” solutions to achieve USD $30/ton cost of CO2 capture by 2021.
CCSL is at the forefront of developing affordable carbon capture technology for utilization and storage, as used by steel, cement, refining & petrochemicals and waste incineration plants. Having showcased the technology at the world’s largest commercially funded industrial-scale carbon capture and utilisation plant in Tuticorin, India, CCSL plans to further expand its customer base.
Affordable CCS technology has a critical role to play in the transition to a low-carbon energy future. It is one of a host of technologies that will be required to tackle climate change. CCSL believes that renewables alone will not be enough if the world is to reach net-zero emissions targets whilst also meeting the energy needs of a fast-growing global population still largely reliant on fossil fuels.
Photo Courtesy of Aniruddha Chowdhury/Mint.