• Natural Gas News

    Marubeni Makes Pact with UK Carbon Capture Firm


The pair plan to develop carbon capture utilisation and storage projects on a build-own-operate model.

by: Joseph Murphy

Posted in:

Natural Gas & LNG News, Asia/Oceania, Europe, Premium, Energy Transition, Carbon, Corporate, Contracts and tenders, News By Country, Japan

Marubeni Makes Pact with UK Carbon Capture Firm

Japan's Marubeni Corp has form a new strategic partnership with UK firm Carbon Clean Solutions (CCSL), which specialises in CO2 capture and separation technology, CCSL said on August 6.

Through the partnership, the pair will support and develop carbon capture utilisation and storage (CCUS) projects together on a build-own-operate model, CCSL said. Projects in Europe will start immediately and will focus on capturing COfor local utilisation.

"Marubeni Corporation and CCSL will be actively looking to advance the partnership by investing in additional global projects," the latter said.

The pair already have ties, with Marubeni having earlier invested in CCSL via a $22mn Series B funding round. These funds will be used to expand CCSL's team and deliver on projects for capturing carbon in the steel, cement, waste management and refining and petrochemicals sectors.

CCSL aims to achieve a carbon-capture cost of $30/metric tonne by 2021 using its containerised solution. It said support from Marubeni was "testament to the technology and commerciality viability" of its solutions. The Japanese firm is looking to boost its annual revenues from low-carbon energy from yen 700bn to 1.3 trillion ($12bn) by 2023.

"Through this strategic partnership, we will jointly accelerate the global development of CCUS businesses, especially in hard to abate industries, in order to realise the circular economy and maximise the value of CO2 as a resource," Marubeni said.