Fluor Corporation (NYSE: FLR) announced today that it has signed a Memorandum of Understanding (MOU) to work together with carbon mineral storage operator Carbfix to work on an integrated carbon capture solution.
The companies have set their sight on a combined approach for reducing emissions in the emission-intensive industries like steel, aluminum and cement.
“Fluor has been a leader in carbon capture for more than 35 years,” said Jason Kraynek, president of Fluor’s Production & Fuels business. “Our collaboration with Carbfix is the next step in offering technical expertise and integrated solutions across the CCS value chain to reduce emissions. Together, we can build on Carbfix’s demonstrated success of safely mineralizing carbon dioxide underground.”
Fluor will be utilizing its Econamine FG PlusSM CO2 capture tech, as well as its broad expertise in engineering, procurement and construction, while Carbfix will join in with its specialist technology which dissolves carbon dioxide in water which can then be injected in basalt formations underground for a prolonged period.
The MOU also allows the two companies to carry out carbon dioxide removal projects such as direct air capture and bioenergy and carbon capture and storage.
The agreement also open the door for carbon removal projects involving direct air capture and bioenergy carbon capture and storage.
“Achieving the world’s climate targets requires significant upscaling of carbon capture and storage,” said Edda Aradóttir, CEO of Carbfix. “Our proven method of subsurface mineralization of CO2 accelerates natural processes to achieve safe, cost-effective and permanent storage. Our collaboration with Fluor is an important step for Carbfix as we work towards bringing our operations to the megaton scale.”