Global Thermostat has achieved a new milestone in its mission to accelerate its pioneering direct air capture (DAC) technology. Sumitomo Corporation has announced its investment in Global Thermostat to help it develop its approach globally. The companies have also signed a letter of intent to work on a new line of global businesses for carbon capture and sequestration including e-fuels production, underground storage and mineralization.
Sumitomo Corporation plans to utilize its global network to implement Global Thermostat’s DAC technology. They will jointly identify and develop business opportunities in carbon capture, utilization and storage (CCUS), including both underground storage and mineralization, in the U.S., Europe, Middle East and Asia markets.
They will also explore opportunities to produce e-fuels by synthesizing CO2 and hydrogen. Global Thermostat is one of the pioneers of direct air capture and has been developing its technology for more than a decade.
In 2022 it succeeded in operating a commercial-scale facility at its U.S. headquarters in Colorado, having the capacity to capture more than 1,000 metric tons of CO2 per year. The commercial plant uses power from the grid, catching and releasing the CO2, with the goal of proving its technology and refining it.
“Through our collaboration with Global Thermostat, we will promote and realize carbon dioxide removal from ambient air through Direct Air Capture with Carbon Storage, as well as focus on synthetic fuel production based on the captured CO2,” said Shinichi ‘Sandro’ Hasegawa, Head of Energy Innovation Initiative America for Sumitomo Corporation.
“We are excited to be Sumitomo’s technology partner as we pursue our goal of a carbon neutral economy. Our proven and fundamentally advantaged technology will enable the cost-effective and efficient capturing of atmospheric CO2 for sequestration or commercial uses,” also commented Paul Nahi, CEO of Global Thermostat.