Johnson Matthey (JM) is collaborating with ClimeCo, a global climate solutions company, to accelerate the deployment of enhanced carbon capture solutions for the energy industry.
Under a Memorandum of Understanding (MoU), the two companies will help syngas producers, initially in hydrogen and methanol, to build the business case for reducing CO2 emissions from existing processes by up to 95 percent.
Combining the expertize of the two companies will enable syngas producers to make immediate progress on complex carbon issues by supporting their projects economic development, de-risking the business case for decarbonization projects, and providing a mechanism to create validated CO2 emissions reductions and creating compliance credits in many government-backed carbon markets.
Together, the companies aim to empower customers to make informed decisions on allocating capital for the deployment of JM’s CLEANPACE™ solutions, accelerate emissions reductions, and future-proof their plants against the rising costs of carbon.
Syngas producers are responsible for approximately 70 percent of CO2 emissions in the chemicals sector. The opportunity for JM’s Low Carbon Solutions to deploy existing technology to over 150 grey hydrogen plants in Europe and North America alone could reduce CO2 emissions by over 100 million tpy by 2030.
Jane Toogood, Catalyst Technologies chief executive at JM, said: “Companies around the world are under pressure to reduce carbon emissions and meet net zero targets. Creating strategic partnerships allows us to offer our customers rounded and complete solutions. By working together with ClimeCo, we will enable industries such as chemicals and refining, who rely on syngas, to quickly understand the regulatory frameworks, accelerate capital decisions for decarbonization programmes and easily deploy proven technology solutions that can have an impact today, to create a cleaner world.”
Bill Flederbach, ClimeCo’s CEO and president, said: “In order to decarbonize, industry is faced with a complex set of regulatory and financial hurdles. This alliance, leveraging ClimeCo’s expertise in regulatory analysis along with advocacy and leadership in environmental credit creation and transactions, supports stakeholders across ‘hard to abate’ industrial sectors by identifying technically and economically viable decarbonization pathways, helping them go beyond conceptual studies to deploy technology solutions that make a difference today.”
For more information visit www.climeco.com
