Bp and CarbonFree announced on 23 February a collaboration to develop carbon capture and utilization projects using CarbonFree’s SkyCycle ™ technology. Bp has been an investor in CarbonFree for 10 years, the oil giant said in a press release.
SkyCycle ™ is a modular, scalable and patented technology designed to directly capture CO2 emissions from a wide variety of hard-to-abate industrial emitters.
CarbonFree’s proprietary technology converts CO2 into specialty chemicals, including calcium carbonate, which is used for a variety of industrial purposes, such as the manufacturing of paper, plastics, ceramics, paints, coating, adhesives, sealants, rubber and cleaning products.
“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.
CarbonFree has been developing and refining the technology for more than 15 years, and its ambition is to capture 10% of the world’s industrial carbon.