Archrock To Partner With Ionada On Carbon Capture

Archrock, Inc. (NYSE:AROC) (“Archrock”) today announced that it will serve as the lead investor in a Series A financing round for Ionada PLC (“Ionada”), a global carbon capture technology company.

Ionada has developed a post combustion carbon capture solution that combines proprietary hollow fiber membrane contactors with proven amine solvents. This modular carbon capture system is designed and engineered for small to mid-sized industrial emitters in the energy, marine, and e-fuels industries, among others. Ionada has conducted extensive research and development and completed successful testing in a lab setting. Archrock’s investment is expected to be used primarily for additional research and development as well as the construction of field demonstration units.

“Archrock’s investment in Ionada supports our new ventures strategy of diversifying into complementary businesses that have the potential to both decarbonize hydrocarbons and create meaningful long-term value for Archrock and its shareholders,” said Brad Childers, Archrock’s President and Chief Executive Officer. “Ionada has significant experience with developing emissions reduction technology in the marine sector and we are excited to partner with them on this scalable and cost-efficient carbon capture technology as Ionada advances into the field demonstration phase of its technology development. In conjunction with the work we continue to progress on methane capture, successful application of this technology in natural gas compression could contribute meaningfully to the industry’s efforts to reduce emissions. We are proud to continue Archrock’s mission to lead our industry in powering a cleaner America.”

Relevant: Ionada To Develop Onboard Carbon Capture System Under Norway’s Green Shipping Programme

Edoardo Panziera, Founder and Chief Executive Officer of Ionada, said, “We believe Ionada’s carbon capture system is a practical and economic solution for small-scale carbon capture in a number of industrial sectors, including the natural gas compression industry. As the largest outsourced natural gas compression provider in the U.S., Archrock is an ideal partner for us. Archrock has deep industry expertise, extensive operating history and long-standing customer relationships, complementing our cutting-edge research and development and carbon capture engineering capabilities.”

Archrock will serve as the lead investor for the investment round along with a group of strategic investors that includes Yinson Production and a global shipowner and operator. These investors join NGIF Cleantech Ventures LP and Halliburton Company’s (NYSE: HAL) energy and climate technology accelerator, Halliburton Labs, as shareholders in the company.

Read more: Chart And Ionada To Help Decarbonize The Shipping Industry

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