bp and CarbonFree have announced that the two companies will work together on developing carbon capture and utilization projects with CarbonFree’s SkyCycleTM technology. This strengthens the relationship between the two companies, as bp is already an investor in CarbonFree through its ventures arm.
SkyCycleTM is a modular technology and captures and utilizes CO2 emissions from hard-to-abate industrial production by converting the carbon dioxide into specialty chemicals, including precipitated calcium carbonate. This form of carbonate can then be used in the manufacturing of paper, plastics, ceramics and a variety of other products.
“We are working with bp to accelerate the introduction of SkyCycleTM to the market,” said CarbonFree CEO Martin Keighley. “As a valued supporter for nearly a decade, bp understands our technology and the potential impact it can have on helping decarbonize hard-to-abate industrial sites. SkyCycleTM is an innovative solution in this space, with already-proven technology and a compelling business proposition for customers.”
CarbonFree has been working on perfecting its technology for over 15 years and given its wide application range, the company has set itself the goal of capturing 10% of the world’s industrial emissions.
“As bp looks to become a net zero company by 2050 or sooner, and help the world get to net zero, CarbonFree’s SkyCycleTM technology can play a role in helping heavy industry make progress toward their net zero goals,” said Orlando Alvarez, SVP, gas and power trading Americas at bp.