ABB And Pace CCS To Work On Lowering Carbon Capture Integration Costs

ABB And Pace CCS Join Forces To Cut Carbon Capture Integration Cost - Carbon Herald
Stockholm, Sweden – January 5, 2021: A sign for the Swiss-Swedish industrial automation and power transmission company ABB on an office building in the Kista business district in Stockholm, Sweden. Image: Mats Wiklund/Shutterstock

Technology multinational ABB Ltd. (NYSE: ABB) and London-based engineering company Pace CCS have signed a partnership agreement to offer a technological solution aimed at reducing the cost of carbon capture and storage (CCS) integration for industrial players.

Through the collaboration the companies will provide a virtual replica of a real process or facility using digital twin technology, thereby optimizing the design and testing stages and providing proof of concept to customers looking to smoothly enter the CCS market, ABB said on its website.

The solution, which will use the ABB Ability™ OPTIMAX® energy management system and will map out various scenarios, subsurface modeling included, is set to help reduce the CAPEX and operational investment needed for players to transition into this market.

“While companies can see the benefits of CCS, there is still a reluctance to make the investment without clear knowledge of how things will work on the ground, at every stage of the process,” Pace CCS CEO Matt Healey said, explaining that the two companies will seek to overcome this big challenge to the mainstream adoption of CCS.

Relevant: CarbonFree And BP Partner To Expand Carbon Capture Globally

The partnership with Pace CCS is expected to underpin a commitment by ABB to drive industrial energy efficiency and help its customers cut their annual CO2 emissions by a minimum of 100 megatons by 2030.

“Carbon capture and storage is a critical component in accelerating the global decarbonization agenda,” commented Brandon Spencer, President of ABB Energy Industries, who highlighted the importance of making the capture, transportation and storage of industrial CO2 emissions more accessible.

According to an analysis by global management consultant McKinsey & Company, if countries are to meet their net-zero commitments, carbon capture, utilization and storage (CCUS) uptake has to grow 120 times by 2050.

Read more: Global CCS Institute: CO2 Capture Projects Increase But Cut Only 1% Of Emissions For Now

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