Irving-based ExxonMobil (NYSE: XOM) and Japan-based Mitsubishi Heavy Industries have entered into an agreement to advance next-generation carbon capture technologies, according to a news release.
The joint effort, with support from Japan-based The Kansai Electric Power Co, Inc., will build upon the KM CDR Process and Advanced KM CDR Process, a liquid amine carbon capture technology developed by MHI and KEPCO. MHI stated the processes produce more than 1 million metric tons per year.
“We’re excited to offer our large industrial customers the only complete carbon capture, transportation and storage solution in the market,” Dan Ammann, president of ExxonMobil Low Carbon Solutions, said in the release.
As part of the agreement, MHI will deploy its carbon capture technology as part of ExxonMobil’s carbon capture and storage solution for heavy-emitting industrial customers. The companies also expect the technology will reduce the cost of carbon dioxide capture.
Read the full story at Dallas Business Journal.