Regulatory News:
This press release features multimedia. View the full release
here: https://www.businesswire.com/news/home/20200917005447/en/
(Photo: LafargeHolcim)
Total (Paris:FP) (LSE:TTA) (NYSE:TOT):
On September 1, the United States Department of Energy's
National Energy Technology Laboratory (DOE-NETL) awarded $1.5
million in federal funding for cost-shared research and development
to support the initial engineering analysis and advancement of the
LH CO(2) MENT Colorado Project, which was the subject of a scoping
study launched earlier this year. The commercial-scale
carbon-capture project, based in Florence, Colorado, is a
partnership of Svante Inc., LafargeHolcim, Kiewit Engineering Group
Inc., Oxy Low Carbon Ventures, LLC (OLCV), a wholly-owned
subsidiary of Occidental, and Total.
With the successful completion of the initial scoping study in
June 2020 and confirmation of DOE funding, the partnership has
committed to the next project phase to evaluate the feasibility of
the facility designed to capture up to 2 million tonnes of carbon
dioxide per year directly from the Holcim cement plant and the
natural gas-fired steam generator, which would be sequestered
underground permanently by Occidental.
"Oxy Low Carbon Ventures is leveraging Occidental's 40 years of
experience in securely storing CO(2) in geologic formations to
advance permanent sequestration as a solution that supports global
emissions reduction efforts through carbon retirement," said Oxy
Low Carbon Ventures President Richard Jackson. "This partnership is
a powerful example of how cross-industry collaboration can help
progress carbon capture, utilization and storage projects that will
be critical to accelerating the transition to a lower-carbon
world."
The carbon-capture facility under review will employ Svante's
solid sorbent technology to capture carbon directly from the cement
kiln as a non-intrusive "end-of-the-pipe" solution.
"We have been very vocal about the importance we place on
finding and accelerating global solutions to reduce our carbon
footprint," said Jamie Gentoso, CEO, U.S. Cement for LafargeHolcim.
"Effective and efficient large scale carbon capture technology will
be a profound advancement for many industries. This U.S. DOE grant
is a significant step in advancing this first-of-its-kind,
large-scale technology, and we're proud to partner with Svante, Oxy
Low Carbon Ventures and Total to bring it to life."
"This project along with the U.S. DOE funding is an important
external validation that we are becoming a significant global
technology provider in carbon capture space across a range of
large-scale industrial applications like cement and blue hydrogen"
said Claude Letourneau, president and CEO of Svante Inc.
"Total brings its experience in this new phase of feasibility to
support the development of Svante's promising CO2 capture
technology. Together with our industrial partners and thanks to
public-private initiative, we aim at accelerating the deployment,
at scale, of innovative and cost-efficient technologies,
contributing to decarbonize industry and curb CO2 emissions", said
Marie-Noëlle Semeria, senior vice president, Group CTO at
Total.
Electricore, Inc. will facilitate management of the federal
grant, and Kiewit Engineering Group Inc. will lead the engineering
development. This joint initiative follows the recently-launched
Pilot Plant Project CO(2) MENT between Svante, LafargeHolcim and
Total in Canada at the Lafarge Richmond cement plant, where
progress has been made towards re-injecting captured CO(2) into
concrete.
###
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is more affordable, more reliable,
cleaner and accessible to as many people as possible. Active in
more than 130 countries, our ambition is to become the responsible
energy major. www.total.com
About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of
Occidental an international energy company with operations in the
United States, Middle East, Africa and Latin America. OLCV is
advancing cutting-edge, low-carbon technologies and business
solutions that economically and sustainably grow our business while
reducing emissions. OLCV is also progressing the development of
low-carbon fuels and products, as well as sequestration services to
support carbon capture projects globally.
About LafargeHolcim
LafargeHolcim is the global leader in building materials and
solutions and active in four business segments: Cement, Aggregates,
Ready-Mix Concrete and Solutions & Products. Its ambition is to
lead the industry in reducing carbon emissions and shifting towards
low-carbon construction. With the strongest R&D organization in
the industry, the company seeks to constantly introduce and promote
high-quality and sustainable building materials and solutions to
its customers worldwide - whether individual homebuilders or
developers of major infrastructure projects. In the United States,
LafargeHolcim companies include close to 350 sites in 43 states and
employ 7,000 people. Our customers rely on us to help them design
and build better communities with innovative solutions that deliver
structural integrity and eco-efficiency.
About Svante
Svante offers companies in emissions-intensive industries a
commercially viable way to capture large-scale CO(2) emissions from
existing infrastructure, either for safe storage or to be recycled
for further industrial use in a closed loop. With the ability to
capture CO(2) directly from industrial sources at less than half
the capital cost of existing solutions, Svante makes
industrial-scale carbon capture a reality. Svante's Board of
Directors includes Nobel Laureate and former Secretary of Energy,
Steven Chu; CEO of OGCI Climate Investments Pratima Rangarajan; and
Steven Berkenfeld, former Head of Industrial & Cleantech
Practice at Barclays Capital. To learn more about Svante's
technology, click here or visit Svante's website. You can also
connect with us on LinkedIn or Twitter @svantesolutions.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL SE nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200917005447/en/
CONTACT: Svante
Julia McKenna (Media)
jmckenna@svanteinc.com
+1 (778) 985 5722
Oxy Low Carbon Ventures
Merritt Talbott (Media)
Merritt_Talbott@oxy.com
+1 (713) 552 8676
LafargeHolcim
Jocelyn Gerst
Jocelyn.Gerst@lafargeholcim.com
+1 (773) 355 4701
Total
Media Relations:
presse@total.com l +33 1 47 44 46 99
Investor Relations:
ir@total.com l +44 (0)207 719 79 62
SOURCE: TOTAL
Copyright Business Wire 2020
(END) Dow Jones Newswires
September 17, 2020 07:53 ET (11:53 GMT)
TOTAL (NYSE:TOT)
Historical Stock Chart
From Aug 2024 to Sep 2024
TOTAL (NYSE:TOT)
Historical Stock Chart
From Sep 2023 to Sep 2024