ExxonMobil acquires Mitsubishi Heavy Industries’ CO2 capture technology

ExxonMobil has deployed Mitsubishi Heavy Industries’ (MHI) CO2 capture technology as part of its end-to-end carbon capture and storage (CCS) solution for industrial customers.

Illustration / Archive / Courtesy of ExxonMobil

With support from The Kansai Electric Power Co., Inc. (KEPCO), the companies have agreed to work together to advance carbon capture technologies that could reduce the cost of CO2 capture for heavy-emitting industrial customers.

According to the companies, the joint effort will build upon KM CDR Process® and Advanced KM CDR Process®, developed by MHI and KEPCO.

“We’re excited to offer our large industrial customers the only complete carbon capture, transportation, and storage solution in the market. Adding Mitsubishi Heavy Industries’ leading carbon capture technology to ExxonMobil’s transportation and storage capabilities enables this compelling offering,” said Dan Ammann, President of ExxonMobil Low Carbon Solutions.

“Carbon capture and storage technology and innovation are critical to our path to net zero. As an expert in advanced engineering, MHI is committed to leading the way in achieving decarbonization goals through strategic collaboration and investments in new technologies. We look forward to partnering with ExxonMobil to continue advancing carbon capture technologies to provide essential carbon neutrality solutions for various industries,” said Kenji Terasawa, President and CEO of Mitsubishi Heavy Industries Engineering, Ltd.

ExxonMobil, international energy and petrochemical company with more than 30 years of experience capturing and transporting CO2 and injecting it into geological formations, and MHI, licensor, and developer of post-combustion CO2 capture technology, have been working together to build world-scale petrochemical plants for the past two decades in Baytown, Corpus Christi, and Singapore, and the CCS partnership is their newest venture.

MHI Group said it is committed to building an innovative solutions ecosystem to realize a carbon-neutral future and achieve its net zero ambitions within its operations by 2040. The “MISSION NET ZERO,” declared last year, includes strengthening the company’s decarbonisation technology offerings, such as developing a CCUS (Carbon Capture, Utilisation, and Storage) value chain and advancing hydrogen solutions.

ExxonMobil Low Carbon Solutions is focusing its carbon capture and storage efforts on point-source emissions, the process of capturing CO2 from industrial activity.

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