Carbon Capture Tech Partnership for Asia and ME
Samsung Engineering Co., Ltd.
Samsung Engineering and Svante Technologies Inc. (Svante) have announced a momentous memorandum of understanding (MoU) that solidifies their partnership aimed at pioneering commercial carbon capture, utilisation, and storage (CCUS) ventures across Asia and the Middle East (ME).
Their joint endeavour is set to target the decarbonisation of challenging heavy industries such as cement, steel, hydrogen, and fertiliser, among others.
This ambitious undertaking will leverage Svante's cutting-edge solid sorbent-based carbon capture filter technology. Furthermore, the collaboration will involve the exploration of innovative design adaptations for Svante's post-combustion carbon capture plants. This landmark MoU was officially signed during the ADIPEC 2023 conference held in Abu Dhabi, UAE, on October 4, 2023.
Samsung Engineering, renowned as a global leader in engineering, procurement, and construction (EPC) and project management, has a clear vision to lead the way in the energy transition. With a rich history of successfully executing numerous projects, Samsung Engineering, in partnership with Svante's inventive carbon capture and removal approach, presents a groundbreaking solution for heavy industry clients seeking sustainable decarbonisation.
A pivotal aspiration for Samsung Engineering is its transformation into a "Beyond EPC – Green Solution Provider." The company is committed to evolving beyond its traditional EPC role, actively embracing green solutions, and taking tangible steps to reduce its carbon footprint.
Hong Namkoong, President & CEO of Samsung Engineering, emphasised the urgency, stating, "The time is now for the CCUS industry value chain players to rethink how they approach projects to deliver them faster, cheaper, and more efficiently. Undertaking multiple projects in parallel while using the same EPC contractor will greatly improve project performance."
Svante has pioneered an environmentally responsible carbon capture and removal technology featuring what it refers to as "structured adsorbent beds" or "filters." These filters are coated with nanoengineered solid adsorbent materials, enabling the capture of CO2 emissions from industries that produce hard-to-decarbonise commodities like cement, steel, fertiliser, and hydrogen.
Svante's filter technology is not limited to industrial emissions; it can also be harnessed for direct air capture (DAC), extracting CO2 from the ambient air, thereby contributing to broader environmental goals.
Claude Letourneau, Svante's President and CEO, expressed his enthusiasm about this collaboration, stating, "We are delighted to welcome Samsung both as a strategic commercial collaborator and an investor in Svante, alongside our other strategic value chain partners and investors. Samsung Engineering's 50+ years of execution experience across the energy and industrial sectors will be invaluable as we continue to rapidly scale our operations and filter manufacturing capacity."
The partnership between these two industry giants will focus on identifying, developing, and delivering commercial-scale carbon capture projects in the dynamic markets of Asia and the Middle East.
This collaboration aims to offer heavy industries in these regions viable pathways to achieve their emission reduction objectives. Moreover, it is anticipated that customers will benefit from an integrated project delivery model for carbon capture plants, streamlining industrial project management and optimising performance.
To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.
Source: Svante
