Dotz Nano has signed an agreement to acquire the carbon dioxide (CO2) capture technology from H2 Blue Tech, it said on May 19. The acquisition is subject to customary closing conditions and is expected to be completed in the third quarter of 2023.

The technology, developed at Rice University and fully characterised by SINTEF, Europe's largest research institution for energy and climate technologies, utilises plastic waste to produce a carbon-based solid sorbent with nanosised pores.

This sorbent can effectively capture and store CO2 gases. It represents the next generation of carbon capture sorbents and offers several advantages over existing technologies, including energy efficiency, low cost of ownership, and longer lifetime, the company said.

The strategic acquisition aligns with Dotz's business growth strategy and will strengthen its offerings to target markets, primarily the oil and gas and chemical industries.

Dotz said that the carbon capture and green energy sector presents a significant opportunity, with the need to increase the annual carbon capture rate globally from approximately 400 megatons to 6 gigatons by 2050.

This represents a $600bn opportunity and creates a favorable market for carbon capture technology companies to differentiate themselves and meet the growing demand for sustainable solutions, the company said.

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Dotz Nano to acquire carbon capture tech from H2 Blue Tech

SHARDUL SHARMA