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Exxon, Japan’s Mitsubishi Heavy tie-up in carbon capture technology

Reuters reports that Exxon and Mistibushi are teaming up to advance carbon capture technology.

The C3 Take
  • The agreement will see Mitsubishi Heavy Industry use its carbon capture technology for Exxon Mobil’s end to end carbon capture and storage solution.
  • The partnership will serve Japan’s Kansai Electric Power Co (KEPCO) and will have the goal of cutting the cost of carbon capture for industrial processes.
  • Private sector leadership is creating a cleaner environment.

“CCS technology has been used for years, often to enhance oil well production rates, but rising carbon prices in regions such as Europe have lifted hopes it might take off as a stand-alone business in the future.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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