O.C.O Technology And Petronor Team Up For €20M Carbon Capture Venture

O.C.O Technology And Petronor Team Up For €20M Carbon Capture Venture - Carbon Herald

O.C.O Technology and oil and gas company Petronor have partnered to establish a €20 million facility in the Port of Bilbao, Spain. The collaboration aims to create the first carbon-negative manufactured limestone aggregate plant in continental Europe by utilizing O.C.O’s Accelerated Carbonation Technology (ACT). 

This collaboration between O.C.O Technology and Petronor represents a major step towards achieving environmental goals set by the European Union. The plant in Bilbao will not only help reduce greenhouse gas emissions but also create new opportunities for economic growth and innovation in the region.

The process behind the collaboration involves capturing CO2 from the Petronor refinery to treat municipal waste that would otherwise go to landfills.

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O.C.O CEO Steve Greig announced that the company is reaching several milestones with this update. For one, it will be their inaugural carbon capture and aggregates manufacturing facility on a large scale in Europe. Additionally, it marks their initial collaboration with the formation of Biscay Eco Aggregates SL (BEA), where O.C.O holds a 25% ownership share, while Petronor owns the remaining 75% stake.

Greig commented, “Our innovative processes and products are making a significant difference by contributing to the low-carbon circular economy. We firmly believe that this is just the first of many opportunities to demonstrate how our technology can transform the way the European Energy from Waste sector manages its waste materials.”

Read more: New Green Hydrogen Project In Spain Will Use a 2GW Electrolyzer

The Spanish community has already acknowledged the potential of this joint venture, which has garnered various awards so far, including the Innovation Fund Small Scale Award in 2021, a €3.2 million investment, and a financial injection of €1,160,000 received from the Indartu program organized by the Basque government.

The partnership between O.C.O Technology and Petronor represents a significant step towards achieving sustainable solutions for industrial waste management. The construction of the Bilbao plant is scheduled to start later this year, with the factory expected to be completed and operational by early 2026.

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