US oil and gas giant ExxonMobil has said it will look to “explore” the carbon capture and storage (CCS) through a new agreement with a chemical and engineering firm.
Exxon revealed last night it will partner with Mosaic Materials to enter into an agreement to “evaluate opportunities” for industrial uses of the technology at scale.
Mosaic Materials is a chemicals and engineering California-based start-up focused on enabling greenhouse gas reductions through carbon capture and high-efficiency gas separations.
Vijay Swarup, vice president of research and development for ExxonMobil Research and Engineering Company, said: “New technologies in carbon capture will be critical enablers for us to meet growing energy demands, while reducing emissions.
“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.”
Thomas McDonald, chief executive officer of Mosaic Materials, added: “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.
“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.”