Johnson Matthey and ClimeCo collaborate on low carbon solutions
Syngas producers are responsible for approximately 70% of CO2 emissions in the chemicals sector.
Johnson Matthey (JM) is collaborating with ClimeCo (a climate solutions company) to accelerate the industry’s deployment of enhanced carbon capture solutions.
Under an MoU, the two companies will help synthesis gas (syngas) producers, initially in hydrogen and methanol, to build the business case for reducing CO2 emissions from existing processes by up to 95%.
Combining JM’s unique skills in technology development and deployment with ClimeCo’s expertise in ESG strategy and regulatory analysis will enable syngas producers to make immediate progress on complex carbon issues by supporting project economics development, de-risking the business case for decarbonisation projects, and providing a mechanism to create validated CO2 emissions reductions and creating compliance credits in many government-backed carbon markets.
Together, they will empower customers to make informed decisions on allocating capital for deploying JM’s CLEANPACE™ solutions, accelerate emissions reductions, and future-proof their plants against rising carbon costs.
The opportunity for JM’s Low Carbon Solutions to deploy existing technology to over 150 grey hydrogen plants in Europe and North America alone, could reduce CO2 emissions by over 100 million tons per year by 2030. This is equivalent to the annual greenhouse gas emissions from approximately 40 million cars. This is an addressable market of £1-2 billion and Low Carbon Solutions is a key growth driver for JM.
Jane Toogood, Catalyst Technologies Chief Executive at JM, said, “By working together with ClimeCo, we will enable industries such as chemicals and refining, who rely on syngas, to quickly understand the regulatory frameworks, accelerate capital decisions for decarbonisation programmes and easily deploy proven technology solutions that can have an impact today, to create a cleaner world.”
Bill Flederbach, the CEO and President of ClimeCo, said, “This alliance, leveraging ClimeCo’s expertise in regulatory analysis along with advocacy and leadership in environmental credit creation and transactions, supports stakeholders across ‘hard to abate’ industrial sectors by identifying technically and economically viable decarbonisation pathways, helping them go beyond conceptual studies to deploy technology solutions that make a difference today.”