Cosmo Energy Holdings Co., Ltd, a leading Japanese energy company, and Toshiba Energy Systems & Solutions (EES) Corporation have joined forces in a strategic collaboration aimed at exploring innovative strategies in energy solutions. The two companies have signed a basic agreement to conduct a joint study on carbon capture and utilization (CCU) techniques.
The purpose of this study is to develop a method that converts harmful carbon dioxide (CO2) emissions into valuable resources by utilizing CO2 electrolysis. This novel approach has the potential to not only reduce greenhouse gas emissions but also contribute to the creation of a circular economy, where waste is minimized and resources are maximized.
The joint study will focus on Toshiba ESS’s CO2 electrolysis technology, which has the ability to produce carbon monoxide (CO) through the electrolysis of CO2 at a high conversion rate.
CO has gained attention as a valuable substance in the Carbon Capture and Utilization (CCU) process, as it can be used as a raw material for various chemical products, energy applications, and synthetic fuels when combined with hydrogen.
Cosmo Energy will leverage Toshiba ESS’s CO2 electrolysis technology to produce a valuable product from the CO2 emitted by its refineries and other facilities. In addition, the energy company is considering using electricity derived from renewable energy sources, supplied by one of its own group companies, for the electrolysis process.
This collaborative project is in line with the ongoing efforts of Cosmo Energy to enhance the competitiveness of their Oil Business and advance the reduction of carbon emissions. This partnership is consistent with their Vision 2030 strategy, which outlines their long-term objectives for sustainability.
As part of their collaboration, the two companies will also explore the potential use of oxygen derived from CO2 electrolysis as a means to promote energy conservation and decrease CO2 emissions at refineries.