USD 64.0213

+0.25

EUR 70.8524

+0.22

BRENT 63.88

+1.43

AI-92 42.36

+0.01

AI-95 46.16

+0.01

AI-98 51.79

+0.18

Diesel 47.5

+0.05

287

ExxonMobil and Mosaic Materials to explore new carbon capture technology

ExxonMobil and Mosaic Materials said that they have entered into an agreement to explore the advancement of breakthrough technology that can remove carbon dioxide from emissions sources.

ExxonMobil and Mosaic Materials to explore new carbon capture technology


Mosaic Materials has progressed research on a unique process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further discussion between the 2 companies to evaluate opportunities for industrial uses of the technology at scale.

“New technologies in carbon capture will be critical enablers for us to meet growing energy demands, while reducing emissions,” said Vijay Swarup, VP of research and development for ExxonMobil Research & Engineering Company.

“Our agreement with Mosaic expands our carbon capture technology research portfolio, which is evaluating multiple pathways - including evaluation of carbonate fuel cells and direct air capture - to reduce costs and enable large-scale deployment. Adding Mosaic’s approach will allow us to build on their work to evaluate the potential for this technology to have a meaningful impact in reducing carbon dioxide emissions.”

“Through this agreement with ExxonMobil, we look to accelerate the pace of our development and demonstrate the business and environmental benefits that our technology can offer,” said Thomas McDonald, CEO of Mosaic Materials. “Our proprietary technology allows us to separate carbon dioxide from nearly any gas mixture using moderate temperature and pressure changes, substantially increasing energy efficiency and decreasing costs.”

Mosaic Materials’ agreement with ExxonMobil is part of Mosaic’s commitment to accelerate the impact of its innovative, low-cost technology, and is Mosaic’s latest direct engagement with companies across a range of industries to demonstrate both the cost reductions and the environmental benefits of employing Mosaic’s solutions.

ExxonMobil also recently announced a 10-year, up to $100 million agreement to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory.

With a working interest in approximately one-fifth of the world’s total carbon capture capacity, ExxonMobil has been able to capture about 7 mln tonnes per year of carbon dioxide and has cumulatively captured more of it than any other company since 1970.