Chart Industries and FLSmidth announced earlier today that they have signed an agreement to develop and implement a new type of carbon capture technology, aimed at lowering the carbon dioxide emissions that result from the production of cement.
The ambition of the two companies is not only to reduce CO2 emissions with over 90%, but to do so at half the price of existing carbon capture technologies.
The partnership will use Chart’s already existing Cryogenic Carbon Capture (CCC) technology and offer it to customers in the cement industry. Working in tandem with Chart, FLSmidth’s role will be to assist in speeding up the commercialization of CCC and customizing the design to better fit cement companies who have specific requirements.
Chart Industries’ stock is up 177% in the last twelve months, while FLSmidth has gained 24.56% in the same period. The announcement didn’t have any direct impact on trading, but it can be taken as a sign of intent by Chart for future projects that will try to take advantage of the growing carbon industry.
Another pair of companies also recently announced a partnership aimed at developing new carbon capture technology – Net Zero Solutions and Pennsaco – you can read more about it here.