BHP invests $6m in emissions reduction company, Carbon Engineering

By Daniel Brightmore
Share
BHP has announced a $6m equity investment in Carbon Engineering Ltd (CE), a Canadian-based company leading the development of Direct Air Capture. This i...

BHP has announced a $6m equity investment in Carbon Engineering Ltd (CE), a Canadian-based company leading the development of Direct Air Capture. This innovative technology has the potential to deliver large-scale negative emissions by removing carbon dioxide from the atmosphere.

BHP's Vice President, Sustainability & Climate Change, Dr Fiona Wild commented: "BHP is committed to accelerating the global response to climate change by investing in emerging technologies that have the potential to lead to material reductions in greenhouse gas emissions.

"As the Intergovernmental Panel on Climate Change (IPCC) stated in late 2018, if we are to avoid the worst effects of climate change, technologies that capture and remove CO2 will be required. Direct Air Capture offers flexibility and potential, and could play a vital role in reducing future global emissions. We hope that this investment can accelerate the development and adoption of this technology."

CE’s CEO, Steve Oldham, welcomed BHP’s investment. “At CE we’re focused on commercialising technologies that can play a critical role in addressing climate change. As we work to deploy our technologies at large scale around the world, we’re thrilled to welcome investment from industry-leading companies like BHP. 

“BHP’s global reach and experience in executing complex projects, as well as their strategic commitment to reducing emissions, make them an ideal partner to help us accelerate the commercialisation and use of CE’s technologies. 

“We’re looking forward to working with BHP and our other partners as we progress the development of DAC and AIR TO FUELS™ facilities, and ultimately achieve our goal of delivering affordable, carbon-neutral fuels and significant emissions reductions around the globe,” said Oldham. 

Related stories:

BHP unveils high-grade copper resource near its Olympic Dam operation in South Australia

BHP introduces first electric vehicle at Olympic Dam underground mine

BHP begins construction work on $4.9 billion South Flank project

Read the February issue of Mining Global here

“We know that investing in emerging technologies to reduce emissions is just one part of addressing climate change. At BHP, we also set greenhouse gas emissions reduction targets for our operations, we build the resilience of our operations and communities to the physical impacts of climate change and we work in partnership with our resource sector peers to improve sectoral performance,” explained Dr Wild.

Dr Wild said the investment in CE complements BHP’s existing efforts to accelerate the development of carbon capture, utilisation and storage (CCUS) at point sources of CO2 emissions, such as in steel making and power generation. “We have achieved progress in CCUS through partnerships, including with the International CCS Knowledge Centre in Canada and with Peking University. We also support REDD+, the UN program for reducing atmospheric emissions from deforestation and forest degradation.” 

“Government support for technologies that capture carbon has been important. However mobilising private capital and supporting market mechanisms to finance technologies that address global emissions will be critical if we are to build a net-zero emissions economy. This investment is a good example of the role that the private sector can play in bringing such technologies to market,” concluded Dr Wild.  

About Direct Air Capture technology 

DAC is a technology that captures CO2 from atmospheric air, and provides it in a purified form for use or storage. Carbon Engineering’s DAC technology does this in a closed loop where the only major inputs are water and energy, and the output is a stream of pure, compressed CO2. This captured, compressed CO2 then offers a range of opportunities to create products and environmental benefits, including production of clean-burning liquid fuels with ultra-low carbon intensity.

About Carbon Engineering 

Founded in 2009, CE is a Canadian-based clean energy company leading the commercialisation of ground-breaking technology that captures CO2 directly from the atmosphere, and a second technology that synthesizes it into clean, affordable transportation fuels. From a pilot plant in Squamish, B.C., CE has been removing CO2 from the atmosphere since 2015 and converting it into fuels since 2017.

Share

Featured Articles

Rockwell to Drive Mining Industry Supply Chain Visibility

Rockwell Automation teams up with Circulor to enhance supply chain transparency and sustainability, empowering manufacturers to meet regulatory demands

Steel Recycling 'can Counter Coal & Iron Mining Carbon Cost'

Growing ferrous metals recycling market projected to increase significantly by 2030 and will help reduce reliance on coal & iron mining for steel products

How Tech Drives Responsible Sourcing at Vale SA

Vale SA CPO & Global Inbound Logistics Director Marco Braga offers insight on the company's tech-driven sustainable procurement startegy

Albemarle Faces Billion-Dollar Loss Amid Lithium Price Drop

Supply Chain Management

Mining Automation Giant ABB has Sustainability in Sights

Sustainability

Focus on: Neodymium - Rare Earth Mineral With Pulling Power

Supply Chain & Operations