Italy’s Saipem acquires CO2 capture technology from CO2 Solutions

Read so far

Italy’s Saipem acquires CO2 capture technology from CO2 Solutions

January 23, 2020 - 17:27
Posted in:

MILAN, Jan. 23, 2020 (Press Release) -Saipem has acquired a proprietary technology for CO2 capture from the Canadian company CO2 Solutions Inc. (“CSI”).

CSI is a leading innovator in the field of enzyme-enabled carbon capture, actively working to develop and commercialize the technology for stationary sources of carbon pollution. CSI’s technology lowers the cost barrier to post-combustion Carbon Capture enabling Sequestration and Utilization (CCUS) and making the industry able to derive profitable new products from these emissions.

The technology developed over the past twenty years by Canadian scientists and engineers, and supported by the governments of Canada, the United States and the European Union, is based on a unique enzymatic CO2 capture process that can claim no usage or emission of toxic products, demonstration at scale (30 tonnes- CO2 per day), validation by credible third parties and attainment of commercial status (TRL-8).

Saipem has acquired also CSI’s extensive portfolio of intellectual property, including over 90 patents granted or pending as well as trademarks. In addition, it has obtained the CO2 capture plant located at the pulp mill of Resolute Forest Products in Saint-Félicien, Québec. Saipem has also taken on the CSI employees who will ensure continuity of R&D activities and operations.

Maurizio Coratella, Chief Operating Officer of the Saipem Onshore E&C Division, commented: “This operation is part of the Saipem E&C Onshore Division’s strategy and ambition to be an enabler of the energy transition for our Clients. The assets and technology purchased will help us expand our green products portfolio and will underpin our resolve to support the industry towards a low carbon energy future”.

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One‐Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high‐tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Listed on the Milan Stock Exchange, it is present in over 70 countries worldwide and has 32 thousand employees of 120 different nationalities.