Latest news with #carboncapture
Yahoo
3 days ago
- Business
- Yahoo
CCS Player Lapis Looks to Expand with Investment from Cresta
Private equity firm Cresta Fund Management has made another investment in Lapis Carbon Solutions as the company aims to expand into CO2 utilization, according to a July 15 news release. The investment of an undisclosed amount was made through the recently launched Cresta Sustainable Fund II. The capital is expected to help advance Lapis' anchor projects and expand its project opportunities, including CO2 utilization. 'This investment reflects our belief in Lapis' ability to lead the way in carbon capture, sequestration and utilization,' said Chris Rozzell, managing partner for Cresta. 'Private equity has a critical role to play in enabling decarbonization at scale, and we are proud to support Lapis as they build the infrastructure necessary for a lower-carbon future.' The investment followed an initial investment made by Cresta in 2021. Cresta and Lapis are based in Dallas. Sign in to access your portfolio
TechCrunch
5 days ago
- Business
- TechCrunch
Meet the cement transport ship that makes cement ingredients while sailing
Shipping has a pollution problem, but one company has a solution that does more than just eliminate a boat's carbon dioxide. London-based Seabound has developed a carbon capture system that transforms CO 2 from the engine into limestone, a key ingredient in cement. Fittingly, the company has installed it aboard the UBC Cork, a cement carrier currently sailing through the Mediterranean Sea. When the ship docks in Norway, the limestone created from the voyage will be offloaded and used to make more cement at Heidelberg Materials' net-zero plant in Brevik. (The name Heidelberg may ring a bell — earlier this year, it inked a deal to deploy more than 100 autonomous trucks from former Google exec Anthony Levandowski's startup Pronto.) Both maritime shipping and cement are highly polluting industries, representing about 3% and 8% of global carbon emissions, respectively. Their emissions are challenging to address, too. For shipping, batteries are not currently energy-dense enough to enable the sorts of voyages many vessels undertake. And the chemical reaction that forms Portland cement, the most widely used type, releases carbon dioxide, to say nothing of the fossil fuels that typically drive the process. There's some urgency for maritime shipping to rein in its pollution: The International Maritime Organization (IMO), which regulates the global shipping industry, will require owners to trim greenhouse gas emissions from their fleets by 30% over the next decade, rising to 65% by 2040. Seabound is just one company developing potential solutions. Another, Amogy, is proposing using its clever ammonia-cracking technology to deliver zero-emission power. While ammonia has gained currency in the shipping industry as an energy-dense fuel with the potential to eliminate greenhouse gas emissions, its use would require ships to overhaul or completely replace their power plants. Seabound is proposing a retrofit that would leave existing internal combustion engines intact, adding a carbon capture system that would tap into their exhaust pipes. Heidelberg Materials said that the use of Seabound's technology would help it reduce the emissions that result from shipping its cement.
E&E News
6 days ago
- Business
- E&E News
Louisiana facility taps CO2 emissions to extract oil
CF Industries has begun operating a carbon dehydration and compression unit at a sprawling complex in southeast Louisiana — part of the ammonia producer's efforts to curb emissions and take advantage of a top carbon capture incentive. In an announcement Monday, the Illinois-based company said carbon dioxide trapped at its Donaldsonville complex in Louisiana will be stored via enhanced oil recovery on an 'interim basis.' The process uses the gas to help extract more oil. Texas-based Exxon Mobil is handling the transportation and storage component of the project as part of an agreement unveiled more than two years ago. The eventual plan is to sequester the carbon underground through dedicated geologic storage, CF Industries said in a news release. Advertisement That will start at Exxon's planned CO2 storage project in East Texas, CF Industries said in its release. This month, EPA issued draft permits for CO2 injection wells to Exxon's proposal, which is called the Rose Carbon Capture and Storage project. The comment period closes Aug. 4.
Bloomberg
6 days ago
- Science
- Bloomberg
EU to Outline What Tech Can Be Used for Permanent CO2 Removal
The European Union is set to define what technologies can be used to permanently remove carbon dioxide from the atmosphere as it pursues its goal of being climate neutral by 2050. The European Commission will outline rules for certifying tools such as Direct Air Carbon Capture and Storage, Bioenergy Carbon Capture and Storage and biochar, according to a document seen by Bloomberg News. All are deemed 'permanent' removal solutions, unlike nature-based fixes like reforestation, which rely on careful management over hundreds of years and can suffer from extreme weather events like fires.
Zawya
6 days ago
- Business
- Zawya
Oman, Türkiye deal opens avenues in oil, gas and renewables
Muscat – Oman and Türkiye signed a memorandum of understanding on Monday to deepen technical and investment cooperation across the energy spectrum, from oil and gas to green hydrogen and carbon‑capture technology. The agreement was inked in Muscat by H E Salim bin Nasser al Aufi, Oman's Minister of Energy and Minerals, and his Turkish counterpart Alparslan Bayraktar. It commits both sides to exchange expertise, align regulatory policies, explore joint projects and study financing options aimed at boosting efficiency and accelerating the transition to cleaner fuels. Areas of collaboration include crude exploration, liquefied natural gas trade, renewable power, energy‑storage solutions and alternative fuels. A dedicated workstream will examine production, storage and transport of green hydrogen – an emerging focus for Oman's 2050 net‑zero drive. 'The MoU embodies the depth of our strategic relations and sets a platform for innovative partnerships in renewables, efficiency and low‑carbon technologies,' H E Aufi said. He added that the pact supports Oman's ambition to become a regional hub for sustainable energy while attracting foreign direct investment. Bayraktar described Oman as a 'key producer and exporter' and said the deal would unlock 'tremendous opportunities' in electricity generation, transmission and market liberalisation. He pointed to Türkiye's 2022 long‑term purchase agreement with Omani LNG and signalled Ankara's interest in expanding volumes and taking part in upstream projects. Joint investment push Bayraktar also met Abdulsalam al Murshidi, President of Oman Investment Authority, to review progress on the US$500mn Omani‑Turkish Joint Investment Fund established with Türkiye's state‑backed Oyak Fund. The fund primarily targets investments in Oman and Türkiye, in addition to promising strategic opportunities worldwide, particularly in mining and metals, automotives, logistics, chemicals, agriculture and food and energy sectors. Discussions covered exploring profitable growth opportunities in promising sectors that serve the economic interests of both countries, contribute to strengthening bilateral relations, and localising technologies and knowledge. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
