Global tech company Dotz Nano (ASX: DTZ) has announced a binding agreement to acquire the carbon dioxide (CO2) capture assets and technology of H2 Blue Tech to diversify its existing portfolio and strengthen its market position.
This patented technology produces carbon-based polymeric sorbent using plastic waste. The sorbent’s nanosized pores are optimized to capture and store CO2 and other industrial flue gases.
The acquisition is subject to shareholder approval and other customary closing conditions and is expected to be completed in the third quarter of 2023.
The technology, which was developed at Rice University in Houston, Texas and fully characterized by Norwegian research institute SINTEF, has several advantages compared to existing technologies, according to Dotz Nano. These include scalability, energy efficiency, a low cost of ownership, and selective adsorption of CO2
It also has a lower environmental footprint, utilizes waste plastic, and minimizes energy consumption in its processes.
“This ground-breaking technology provides Dotz with an ideal platform to enter the carbon capture market, with significant market opportunities into the next decade,” Dotz’s CEO, Sharon Malka, said in a comment to the deal.
“While C02 capture is a new market for us, our track-record of developing, scaling, and commercialising innovative technologies ensures we have the demonstrated capability to deliver for our clients and shareholders,” she added.
Dotz estimates that there is а $600 billion opportunity in the carbon capture and green energy sector since the annual carbon capture rate needs to be increased from 400 megatons to 6 gigatons by 2050, according to the latest data.
This creates ideal conditions for carbon capture tech companies to pursue strategies of differentiation at a low cost, while also expanding to new markets and generating demand.
Through this strategic acquisition, Dotz will deliver on its business growth strategy and will strengthen its offering to existing target markets, mainly the oil and gas and chemical industries.