Canadian energy technology company Borna has announced plans to invest $40 million in Egypt to develop a facility focused on capturing flared natural gas and implementing carbon capture solutions.
The announcement followed a meeting between Borna representatives and Hossam Heiba, head of Egypt’s General Authority for Investment and Free Zones (GAFI), to explore the integration of Borna’s clean energy technologies within the country’s energy sector.
The proposed plant will be built to recover gases — such as methane, propane, and butane — that are typically lost through flaring during oil exploration and extraction.
These recovered gases will then be redirected into Egypt’s national gas grid, enhancing energy efficiency and reducing environmental impact.
The facility will also incorporate carbon capture and storage systems, enabling local firms to participate in Egypt’s recently launched voluntary carbon credit trading platform.
Borna’s CEO, Sam Salimi, highlighted the initiative’s potential to deliver multiple benefits: decreasing Egypt’s reliance on energy imports, cutting emissions, and generating skilled jobs.
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He noted that the project is supported by Canadian government entities and financial institutions, which are encouraging expansion into emerging markets with strong growth potential like Egypt.
GAFI’s Heiba emphasized the competitive advantages available to foreign investors under Egypt’s private free zones system.
These benefits include streamlined licensing processes, tax and customs exemptions, affordable land access, and the freedom to operate near extraction sites without being limited to state-assigned investment zones.
Heiba also pointed out that the technology developed by Borna in Egypt will help local industries meet international environmental benchmarks — particularly the European Union’s Carbon Border Adjustment Mechanism (CBAM), which favors low-emission products entering the EU market.
