CarbonFree and bp Collaborate to Help Bring Carbon Capture & Utilization Technology to Industrial Sites Around the World
February 23, 2023
For Immediate Release
Development agreement focused on deploying CarbonFree’s proprietary SkyCycle™ technology at hard-to-abate industrial sites.
(SAN ANTONIO, TX — February 23, 2023) bp and CarbonFree announce an agreement to collaborate on the development of carbon capture and utilization projects using CarbonFree’s SkyCycle™ technology. bp ventures has been an investor in CarbonFree for nearly 10 years.
CarbonFree’s SkyCycle™ captures and utilizes carbon emissions from hard-to-abate industrial sources by converting CO2 into specialty chemicals, including calcium carbonate. Calcium carbonate comprises more than 4% of the earth’s crust and is found throughout the world as chalk, limestone and marble.
CarbonFree has been developing and refining the technology for more than 15 years and the company’s ambition is to capture 10% of the world’s industrial carbon, thereby helping industries and companies reach their net zero goals.
bp and CarbonFree will work to identify and pursue potential SkyCycle™ development projects at industrial facilities.
“We are working with bp to accelerate the introduction of SkyCycle™ to the market,” said CarbonFree CEO Martin Keighley. “As a valued supporter for nearly a decade, bp understands our technology and the potential impact it can have on helping decarbonize hard-to-abate industrial sites. SkyCycle™ is an innovative solution in this space, with already-proven technology and a compelling business proposition for customers.”
“CarbonFree has been a bp ventures portfolio company for nearly 10 years and during this period we have worked together to help make carbon capture a commercial reality for industrial companies looking to decarbonize. As bp looks to become a net zero company by 2050 or sooner, and help the world get to net zero, CarbonFree’s SkyCycle™technology can play a role in helping heavy industry make progress toward their net zero goals. This agreement is an important milestone in our relationship with CarbonFree and we look forward to our ongoing collaboration,” said Orlando Alvarez, SVP, gas and power trading Americas at bp.
SkyCycle™ is a modular, scalable and patented technology designed to directly capture CO2 emissions from a wide variety of hard-to-abate industrial emitters. The technology produces precipitated calcium carbonate (PCC). PCC is a high-value product used for a variety of industrial purposes, including in the manufacturing of paper, plastics, ceramics, paints, coating, adhesives, sealants, rubber and cleaning products.
CarbonFree Chemicals Holdings, LLC is a privately held company. CarbonFree has invested over 17 years into research and development to prepare to bring its SkyCycle™ technology to hard-to-abate industries around the world. CarbonFree’s mission is to capture 10% of the world’s industrial carbon, thereby helping industries and companies reach their net zero goals. For more information about CarbonFree, visit www.carbonfree.cc.
- Phil Chinitz
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp is heavily investing in low carbon energy businesses in the US and globally including bioenergy, e-mobility, renewables and hydrogen. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $135 billion in the economy since 2005 and supporting about 245,000 jobs. For more information on bp in the US, visit www.bp.com/us.
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to significant global impact. For more information, visit braemarenergy.com or follow @BraemarEnergy on Twitter.