CO2 Lock & Ionada Carbon Sign MOU to Pursue Carbon Capture and Storage Opportunities

Source: www.gulfoilandgas.com 9/18/2024, Location: North America

CO2 Lock Corp. ("CO2 Lock") and Ionada Carbon Solutions LLC are pleased to announce the signing of a Memorandum of Understanding to pursue a variety of commercial arrangements relating to the capture and storage of carbon dioxide and the related sale of carbon credits into the commercial market. This MOU is designed to leverage the full value chain of the carbon dioxide removal sector, namely the capture, sequestration, and the sale of the carbon credit and related economics. The collaboration will integrate Ionada's proprietary carbon capture technology with CO2 Lock's permanent mineralization storage solutions, creating end-to-end carbon capture storage systems that are cost-effective and scalable.

"This MOU is very strategic and goes a long way towards securing the carbon dioxide that we need in order to get to our target of 1 million tons of CO2 stored per year from our first carbon storage project located near Prince George, British Columbia," said Scott Larson, CEO of CO2 Lock. "Ionada's patented, containerized, and modular carbon capture technology can remove up to 99% of the CO2 in certain industrial processes and is perfect for what we are looking to do."

"This MOU provides a significant piece of the value chain," said Edoardo Panziera, Ionada's CEO. "As we combine our proven technology, both from direct access capture as well as point source, with what CO2 Lock is building out, we have the ability to continue pushing climate technology and carbon dioxide removal throughout the BC ecosystem."

The joint efforts of CO2 Lock and Ionada, will position both companies as respective leaders in the carbon removal sector and both companies look forward to advancing their collaborative efforts to build out an innovative end-to-end capture and storage solution.


France >>  11/14/2024 - Technip Energies and Shell Catalysts & Technologies have agreed to strengthen their relationship and will be moving towards global exclusivity for the...
Singapore >>  11/14/2024 - IFC’s projects delivered significant impact across Asia Pacific in the last fiscal year, addressing pressing development challenges including climate ...

Spain >>  11/14/2024 - The Ministry of Mines and Energy (MME) published this Friday (1st) an ordinance authorizing Neoenergia Pernambuco to expand renewable generation in Fe...
United States >>  11/14/2024 - The U.S. Department of Energy’s Bioenergy Technologies Office (BETO) and Office of Fossil Energy and Carbon Management (FECM) today announced $20.2 mi...

Austria >>  11/13/2024 - • The Ministry of Climate Protection awarded model companies for their commitment
Matters of energy efficiency and climate protection.
• The...

Canada >>  11/13/2024 - SaskPower’s Carbon Capture and Storage (CCS) facility at Boundary Dam Power Station Unit 3 in Estevan continues its strong performance as the facility...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.