Svante, LafargeHolcim, Oxy Low Carbon Ventures ...
Study targets feasibility of capturing CO2 from LafargeHolcim cement plant for storage by Occidental
Svante, LafargeHolcim, Oxy Low Carbon Ventures and Total Launch Study for Commercial-Scale Carbon Capture and End-Use at U.S. Plant
Total
Svante Inc., LafargeHolcim, Oxy Low Carbon Ventures, LLC (OLCV), a wholly-owned subsidiary of Occidental, and Total (Paris:FP) (LSE:TTA) (NYSE:TOT) today announced a joint study to assess the viability and design of a commercial-scale carbon-capture facility at the Holcim Portland Cement Plant in Florence, Colorado, U.S.
The study will evaluate the cost of the facility designed to capture up to 725,000 tonnes of carbon dioxide per year directly from the LafargeHolcim cement plant, which would be sequestered underground permanently by Occidental.
“OLCV is dedicated to advancing low-carbon solutions that will enhance Occidental's business while reducing emissions," OLCV President Richard Jackson said. “Participating in this study aligns with our goals of finding an economical pathway toward large-scale application of carbon-capture technologies to reduce emissions.â€
The carbon-capture facility under review will employ Svante’s technology to capture carbon directly from industrial sources at half the capital cost of existing solutions. Occidental, the industry leader in CO2 management and storage, would sequester the captured CO2. Pairing carbon capture from a cement plant with CO2 sequestration is a significant step forward for the cement industry in reducing its carbon footprint.
“Being at the forefront of the low-carbon transition requires continuous innovation and partnerships,†LafargeHolcim CEO Jan Jenisch said. “LafargeHolcim has significantly invested in the development of low-carbon solutions. Collaborating with Svante, OLCV and Total, we expect to realize a successful U.S. carbon-capture project in the near future.â€
“Svante’s capital cost advantage, combined with progressive tax credit policies such as the 45Q tax credit in the U.S., can make carbon capture profitable across a range of large-scale industrial applications like cement,†said Claude Letourneau, president and CEO of Svante Inc.
“Total has slated 10% of its annual R&D budget to make significant advances in Carbon Capture, Utilization and Storage (CCUS) technology, a key technology to curb worldwide CO2 emissions. Our investment in this joint study is directly aligned with our strategy. The learnings from this study will help us pursue our commitment to the commercial development of CCUS,†said Marie-Noëlle Semeria, Senior Vice President, Group CTO at Total.
This joint initiative follows the recently-launched Project CO2MENT between Svante, LafargeHolcim and Total in Canada at the Lafarge Richmond cement plant, where progress has been made towards re-injecting captured CO2 into concrete.
###
About Total
Total is a major energy player that produces and
markets fuels, natural gas and low-carbon electricity. Our 100,000
employees are committed to better energy that is safer, more affordable,
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 oil and gas
exploration and production company with operations in the United States,
Middle East and Latin America. OLCV is focused on advancing
leading-edge, low-carbon technologies and business solutions that
economically grow our business while reducing emissions. OLCV also
invests in the development of low-carbon fuels and products, as well as
sequestration services to support carbon capture projects globally.
Cautionary Statement Regarding Forward-Looking
Statements
Any statements in this release relating to
expectations, beliefs, plans or forecasts, including any statements
relating to the success, capability or scalability of the project, that
are not historical facts are forward-looking statements. These
statements are typically identified by words such as “potential,â€
“will,†“would,†“should,†“may,†“plan,†“believe,†“expect,†“designed
to,†or similar expressions that convey the prospective nature of events
or outcomes. Actual results, including those related to project plans
and timing and the impact and results of new technologies, including
emission reductions, could vary from anticipated results. Factors that
could cause actual results to differ include, but are not limited to:
global commodity pricing fluctuations; supply and demand considerations
for carbon capture and sequestration technologies; the competitiveness
of alternative energy sources or product substitutes;
higher-than-expected costs; the regulatory environment; availability of
funding, personnel and materials; litigation; actions by third parties;
failures in risk management; and changes in laws, regulations or tax
rates. Material risks that may affect the results of Occidental and its
subsidiaries appear in Part I, Item 1A “Risk Factors†of Occidental’s
Annual Report on Form 10-K for the year ended December 31, 2018, and in
Occidental’s other filings with the SEC.
About LafargeHolcim
LafargeHolcim is the global leader in
building materials and solutions. We are active in four business
segments: cement, aggregates, ready-mix concrete and solutions &
products. With leading positions in all regions of the world and a
balanced portfolio between developing and mature markets, LafargeHolcim
offers a broad range of high-quality building materials and solutions.
LafargeHolcim experts solve the challenges that customers face around
the world, whether they are building individual homes or major
infrastructure projects. Demand for LafargeHolcim materials and
solutions is driven by global population growth, urbanization, improved
living standards and sustainable construction. Around 75,000 people work
for the company in around 80 countries.
About Svante
Svante offers companies in emissions-intensive
industries a commercially viable way to capture large-scale CO2
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 CO2 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;
former Airbus Group’s Chief Technical Officer Jean Botti; 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 S.A. directly or indirectly owns investments are
separate legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Totalâ€, “Total Group†and Group
are sometimes used for convenience. Likewise, the words “weâ€, “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 S.A. 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.
Svante
Julia McKenna (Investors)
jmckenna@svanteinc.com
+1
(778) 985 5722
Martin Cej (Media)
mcej@longviewcomms.ca
+1
(587) 319 2828
Oxy Low Carbon Ventures
Jeff Alvarez (Investors)
jeff_alvarez@oxy.com
+1
(713) 215 7864
Helen Rhymes (Media)
helen_rhymes@oxy.com
+1
(713) 840-3019
LafargeHolcim
LafargeHolcim Group Media Relations
+41
(0) 58 858 87 10
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005568/en/
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