Pipeline company Enbridge Inc. and three other energy companies announced a partnership Friday to build and operate carbon capture projects in North America for large industrial emitters.
The companies — which also include Canadian-based Svante Inc. and Cross River Infrastructure Partners LLC, and OTS Ltd. in the U.S. — signed a memorandum of understanding to form Cross Carbon Ventures (CCV), to explore “commercial opportunities” for carbon capture and storage (CCS) projects for heavy industries such as cement, steelmaking, oil refining and large-scale hydrogen production.
Aaron Ratner, CCV president, said leveraging the strengths of each partner — Enbridge’s pipeline infrastructure and energy distribution knowledge, Svante’s carbon capture technology, Cross River’s development expertise, and OTS’s commissioning and operations experience — allows sustainable infrastructure to be used as a service rather than sold to the market, which will encourage industries to adopt climate technology more quickly by reducing the risk.
“Anytime you’re early in the life cycle of a technology, being able to deploy it as a service with credible partners … you’re able to offer consumers of that technology an option to benefit from it without having to purchase, own and operate it,” he said.
The partnership is looking at ways to capture carbon directly from industrial exhaust gas and produce CO2 that can be transported through pipelines and stored in sequestration hubs.