Published by Todd Bush on February 24, 2023
SAN ANTONIO--(BUSINESS WIRE)--bp and CarbonFree announce an agreement to collaborate on the development of carbon capture and utilization projects using CarbonFree’s SkyCycleTM technology. bp ventures has been an investor in CarbonFree for nearly 10 years.
>> In Other News: bp Leans Into Convenience and Mobility Across US, Agrees to Purchase Leading Travel Center Operator, Travelcenters of America
CarbonFree’s SkyCycleTM captures and utilizes carbon emissions from hard-to-abate industrial sources by converting CO2 into specialty chemicals, including calcium carbonate. Calcium carbonate comprises more than 4% of the earth’s crust and is found throughout the world as chalk, limestone and marble.
CarbonFree has been developing and refining the technology for more than 15 years and the company’s ambition is to capture 10% of the world’s industrial carbon, thereby helping industries and companies reach their net zero goals.
bp and CarbonFree will work to identify and pursue potential SkyCycleTM development projects at industrial facilities.
“We are working with bp to accelerate the introduction of SkyCycleTM to the market,” said CarbonFree CEO Martin Keighley. “As a valued supporter for nearly a decade, bp understands our technology and the potential impact it can have on helping decarbonize hard-to-abate industrial sites. SkyCycleTM is an innovative solution in this space, with already-proven technology and a compelling business proposition for customers.”
“CarbonFree has been a bp ventures portfolio company for nearly 10 years and during this period we have worked together to help make carbon capture a commercial reality for industrial companies looking to decarbonize. As bp looks to become a net zero company by 2050 or sooner, and help the world get to net zero, CarbonFree’s SkyCycleTM technology can play a role in helping heavy industry make progress toward their net zero goals. This agreement is an important milestone in our relationship with CarbonFree and we look forward to our ongoing collaboration,” said Orlando Alvarez, SVP, gas and power trading Americas at bp.
SkyCycleTM is a modular, scalable and patented technology designed to directly capture CO2 emissions from a wide variety of hard-to-abate industrial emitters. The technology produces precipitated calcium carbonate (PCC). PCC is a high-value product used for a variety of industrial purposes, including in the manufacturing of paper, plastics, ceramics, paints, coating, adhesives, sealants, rubber and cleaning products.
CarbonFree Chemicals Holdings, LLC (CarbonFree) is a carbon capture company that holds more than 90 patents in 50 countries. Its SkyCycleTM technology is designed to help hard-to-abate industries achieve net-zero goals by capturing and utilizing carbon emissions, without a need for infrastructure like long-haul pipelines and disposal wells. Through SkyCycleTM plants, carbon emissions can be mineralized at the source and converted into chemicals that will either be sold (precipitated calcium carbonate and hydrochloric acid) or stored in an environmentally friendly manner (calcium carbonate). CarbonFree currently operates both its profitable SkyMine plant, the world’s first and largest industrial-scale carbon mineralization facility, and its large-scale SkyCycleTM demonstration plant in San Antonio, TX. For more information about CarbonFree, visit www.carbonfree.cc.
>> In Company Spotlight: BP PLC
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp is heavily investing in low carbon energy businesses in the US and globally including bioenergy, e-mobility, renewables and hydrogen. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $135 billion in the economy since 2005 and supporting about 245,000 jobs. For more information on bp in the US, visit www.bp.com/us.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💸 Prometheus Slashes Cost of Carbon Capture by More Than 80%, Unlocking Affordable E-Fuels as a New Source of 24/7 Carbon Neutral Power 🌱 Pinwheel Opens Global Call for High-Impa...
Inside This Issue ⚡ The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions 🌍 Carbon Business Council Expands European Footprint to Support the Continent’s Carbon Remov...
Inside This Issue 💥 North America's $170B Hydrogen Surge: Why 2025 is the Tipping Point ⚙️ First Centrifugal on Board Carbon Capture System Launches 🌾 AgriCapture Rice Methane Reduction Project R...
Pinwheel Opens Global Call for High-Impact Nature-Based Carbon Removal Projects
Pinwheel just launched another application round, hunting for durable and nature-based carbon removal projects that can deliver real impact for major corporate clients. Since launching at COP26 in...
HOUSTON /PRNewswire/ -- HydrogenXT, a leading innovator in zero-carbon fuel-grade blue hydrogen, today announced it has secured a definitive Term Sheet for $900 million in combined debt and equity ...
Northern Endurance Partnership Awards Halliburton Contract for Carbon Capture and Storage Monitoring
HOUSTON — Halliburton (NYSE: HAL) today announced a contract award to provide completions and downhole monitoring services for the Northern Endurance Partnership (NEP) carbon capture and storage (C...
The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions
Hydrogen is a growing yet controversial source of energy that some see as key to California’s ambitious climate goals. A new project in Vernon will be one of the largest hydrogen production-and-d...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.