Darrell Proctor of Power reports that Honeywell and the University of Texas at Austin have joined together to advance new carbon capture technology.
- Honeywell and UT-Austin will partner together to develop carbon capture technology.
- UT’s innovative carbon capture technology allows facilities to capture CO2 at a lower cost and with more efficient equipment.
- Honeywell has committed to reach net zero emissions by 2050 and is currently dedicating around half of its research and development budget to advance technologies that improve the well-being of the environment and society.
- The private sector is advancing durable climate solutions.
“The International Energy Agency (IEA) last year said carbon capture, utilization and storage (CCUS) projects worldwide were capturing and either storing or using 40 million metric tons annually of CO2. IEA has said that in order to align with the group’s Sustainable Development Scenario, which demonstrates a pathway to limit global temperature rise by less than 1.65C, CCUS project capacity must increase more than 20 times to enable capture of 840 million metric tons per year of CO2 by 2030.”
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