Fluor and Carbfix partner to address CCS in hard-to-abate sectors
(l-r) Fluor Business Incubation Executive Director, Jim Shih, and Carbfix CEO, Dr. Edda Sif Pind Aradóttir, pen a memorandum of understanding between the two companies to collaborate on carbon capture and storage solutions. // Business Wire
November 14, 2023
BY Fluor
Fluor Corporation (NYSE: FLR) announced its memorandum of understanding (MOU) with Carbfix, the world’s first carbon dioxide (CO2)mineral storage operator, to pursue integrated carbon capture and storage (CCS) solutions. Together, the companies look to minimize the impacts of climate change by helping to decarbonize hard-to-abate industries with high greenhouse gas emissions, such as steel, aluminum and cement.
The companies will leverage their respective expertise to partner with clients looking for end-to-end CO2 reduction. Fluor will provide its proprietary Econamine FG PlusSMcarbon capture technology and its breadth of engineering, procurement and construction experience. Carbfix’s transformative technology dissolves CO2 in water and injects it into porous basaltic rock formations, where natural processes cause the CO2 to form stable carbonate minerals within two years.
Advertisement
The MOU also enables the two companies to pursue CO2 removal projects such as direct air capture and bioenergy carbon capture and storage.
“Fluor has been a leader in carbon capture for more than 35 years,” said Jason Kraynek, president of Fluor’s Production & Fuels business. “Our collaboration with Carbfix is the next step in offering technical expertise and integrated solutions across the CCS value chain to reduce emissions. Together, we can build on Carbfix’s demonstrated success of safely mineralizing carbon dioxideunderground.”
Advertisement
“Achieving the world’s climate targets requires significant upscaling of carbon capture and storage,” said Edda Aradóttir, CEO of Carbfix. “Our proven method of subsurface mineralization of CO2 accelerates natural processes to achieve safe, cost-effective and permanent storage. Our collaboration with Fluor is an important step for Carbfix as we work towards bringing our operations to the megaton scale.”
Carbfix has applied its method of turning CO2 into stone underground for more than a decade in Iceland. The company currently captures and mineralizes one-third of the CO2 emissions from Iceland’s largest geothermal power plant, with the goal of increasing this rate to 95% by 2025.
Related Stories
Carbon Direct, in collaboration with Microsoft, announced the release of new criteria for high-quality marine carbon dioxide removal (mCDR), setting a higher standard for social impact, monitoring, durability, and environmental integrity in the rapidly evolving mCDR space.
Leading Danish district heating companies Sønderborg Varme and Thisted Varmeforsyning have signed a collaboration agreement with Carbon Clean to engage and collaborate in applying for a subsidy from the Danish Energy Agency’s CCS Fund. The partnership will allow Carbon Clean to explore opportunities to deploy its carbon capture technology in Denmark.
EFM and Meta have finalized a groundbreaking long-term contract for the delivery of 676,000 nature-based carbon removal credits through 2035. The deal will support the transition of 68,000 acres of forestland to climate-smart management on Washington’s Olympic Peninsula, with the goal of removing more than one million tons of carbon emissions over the next decade.
Stockholm Exergi announced its decision to build one of the world’s largest facilities for capture and permanent storage of biogenic carbon dioxide. The investment amounts to SEK 13 billion. Construction will begin immediately, with the goal of having the facility operational in 2028.
The expansion of Northern Lights will increase the transport and storage capacity from 1.5 million to a minimum of 5 million tons of CO2 per year, enabling further reduction and removal of European industrial CO2 emissions.
Upcoming Events
