Baker Hughes has acquired a company involved in carbon capture called Mosaic Materials Inc., it said in a release on Wednesday. The energy technology company, with operations in Guyana, said the acquisition supports its plan to develop and scale next generation capture technology for carbon dioxide (CO2) reduction from stationary sources and removal from the atmosphere.
Mosaic’s metal-organic framework (MOF) technology is a proprietary adsorbent material that acts like a high-capacity molecular sponge to selectively capture CO2. Baker Hughes said it will draw from its existing advanced capabilities, including modular design and material science, to develop and scale Mosaic’s innovative technology, enabling direct air capture (DAC) with a solution that requires significantly less energy to operate and provides lower total cost of ownership.
To meet climate goals, Baker Hughes said both CO2 removal from power and industrial facilities, and direct air capture, will be needed to meet targets.
“Removing carbon through a multi-pronged approach, including direct air capture, is critical to overcoming climate change,” executive vice president of Turbomachinery & Process Solutions at Baker Hughes, Rod Christie said. “This is why we are investing in several emerging technologies, including Mosaic Materials, to develop a comprehensive and diversified portfolio that can significantly and efficiently reduce as well as eliminate CO2, across multiple industries, including hard-to-abate sectors.”
Mosaic’s technology, Banker Hughes said, adds to its portfolio of carbon capture utilisation and storage solutions. It expects the air capture technology to be able to serve multiple sectors, including energy.
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Large companies in the oil and gas, and energy industries are increasingly beginning to invest in carbon capture technology, given global movements to mitigate the impacts of global warming. Baker Hughes, one of ExxonMobil’s contractors in Guyana, is one of them.
ExxonMobil too has been placing some of its focus on low carbon solutions. In Guyana, the environmental regulator has required it to provide a carbon capture roadmap for its newest development, the Yellowtail project.
Both Guyana and ExxonMobil are in support of the international goal of achieving net zero emissions by 2050. Guyana is already a net zero emitter, and Exxon intends to get there through continuous operational reforms.
According to a Reuters report, ExxonMobil estimates the carbon capture market will be worth US$4 trillion by 2050.
