ExxonMobil, FuelCell Energy Expand Agreement for Carbon Capture Technology
06 Novembre 2019 - 2:00PM
Business Wire
- Agreement to optimize carbonate fuel cell technology for
large-scale carbon capture
- ExxonMobil exploring opportunities to deploy technology within
its operations
ExxonMobil and FuelCell Energy, Inc. said today they have signed
a new, two-year expanded joint-development agreement to further
enhance carbonate fuel cell technology for the purpose of capturing
carbon dioxide from industrial facilities.
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the full release here:
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The agreement, worth up to $60 million, will focus efforts on
optimizing the core technology, overall process integration and
large-scale deployment of carbon capture solutions. ExxonMobil is
exploring options to conduct a pilot test of next-generation fuel
cell carbon capture solution at one of its operating sites.
“ExxonMobil is working to advance carbon capture technologies
while reducing costs and enhancing scalability,” said Vijay Swarup,
vice president of research and development for ExxonMobil Research
and Engineering Company. “This expanded agreement with FuelCell
Energy will enable further progress on this unique carbon capture
solution that has the potential to achieve meaningful reductions of
carbon dioxide emissions from industrial operations.”
FuelCell Energy’s proprietary technology uses carbonate fuel
cells to efficiently capture and concentrate carbon dioxide streams
from large industrial sources. Combustion exhaust is directed to
the fuel cell, which produces power while capturing and
concentrating carbon dioxide for permanent storage.
The modular design enables the technology to be deployed at a
wide range of locations, which could lead to a more cost-efficient
path for large-scale deployment of carbon capture and
sequestration.
“Today’s announcement underscores our leadership position in
fuel cell technology,” said Jason Few, president and chief
executive officer of FuelCell Energy. “We are excited to continue
to work with ExxonMobil to tackle one of the biggest challenges
that exists today. We have a great opportunity to scale and
commercialize our unique carbon capture solution, one that captures
about 90 percent of carbon dioxide from various exhaust streams,
while generating additional power, unlike traditional carbon
capture technologies which consume significant power.
“FuelCell Energy has always been proud of our technology and our
role in reshaping the environmental impact of industry and
electrical generation. This is another giant step forward towards
the large-scale deployment of this much needed technology.”
ExxonMobil and FuelCell Energy began working together in 2016
with a focus on better understanding the fundamental science behind
carbonate fuel cells and how to increase efficiency in separating
and concentrating carbon dioxide from the exhaust of natural
gas-fueled power generation. The new and expanded agreement will
prioritize the optimization of the core carbon capture technology
for integration into large-scale industrial facilities such as
refineries and chemical plants.
ExxonMobil engineers and scientists have researched, developed
and applied technologies that could play a role in the widespread
deployment of carbon capture and storage for more than 30 years.
The company has a working interest in approximately one-fifth of
the world’s total carbon capture capacity, and has captured about 7
million tonnes per year of carbon dioxide. ExxonMobil has captured
more carbon dioxide than any other company.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and
gas company, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. For more information, visit
www.exxonmobil.com or follow us on Twitter at
www.twitter.com/exxonmobil.
About FuelCell Energy, Inc.
FuelCell Energy, Inc. (NASDAQ: FCEL) delivers efficient,
affordable and clean solutions for the supply, recovery and storage
of energy. We design, manufacture, undertake project development
of, install, operate and maintain megawatt-scale fuel cell systems,
serving utilities and industrial and large municipal power users
with solutions that include both utility-scale and on-site power
generation, carbon capture, local hydrogen production for
transportation and industry, and long duration energy storage. With
SureSource™ installations on three continents and millions of
megawatt hours of ultra-clean power produced, FuelCell Energy is a
global leader in designing, manufacturing, installing, operating
and maintaining environmentally responsible fuel cell power
solutions. Visit us online at www.fuelcellenergy.com and follow us
on Twitter @FuelCell_Energy.
Cautionary Statement: Statements of
future events or conditions in this release are forward-looking
statements. Actual future results, including project plans and
timing and the impact and results of new technologies, including
efficiency gains and emission reductions, could vary depending on
the outcome of further research and testing; the development and
competitiveness of alternative technologies; the ability to scale
pilot projects on a cost-effective basis; political and regulatory
developments; and other factors discussed in this release and under
the heading “Factors Affecting Future Results” on the Investors
page of ExxonMobil’s website at exxonmobil.com.
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ExxonMobil Media Relations, 972-940-6007
FuelCell Energy Investor Relations, 203-830-7494
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