BHP invests in carbon capture technology
Multinational mining giant BHP has invested US$6mn in Canadian carbon capture technology firm Carbon Engineering (CE).
CE is leading the development of Direct Air Capture technology, capable of removing carbon dioxide from the atmosphere at a large scale and thereby creating net negative emissions.
BHP said in the statement that the investment had landed it a share in the company.
“BHP is committed to accelerating the global response to climate change by investing in emerging technologies that have the potential to lead to material reductions in greenhouse gas emissions,” said Fiona Wild, Vice President of Sustainability and Climate Change at BHP, in the firm’s press release.
“As the Intergovernmental Panel on Climate Change (IPCC) stated in late 2018, if we are to avoid the worst effects of climate change, technologies that capture and remove CO2 will be required.
“Direct Air Capture offers flexibility and potential, and could play a vital role in reducing future global emissions. We hope that this investment can accelerate the development and adoption of this technology.”
Carbon Engineering CEO, Steve Oldham, added:
“At CE we’re focused on commercialising technologies that can play a critical role in addressing climate change. As we work to deploy our technologies at large scale around the world, we’re thrilled to welcome investment from industry-leading companies like BHP.”
“BHP’s global reach and experience in executing complex projects, as well as their strategic commitment to reducing emissions, make them an ideal partner to help us accelerate the commercialisation and use of CE’s technologies.”