The University of Texas at Austin will sell its carbon capture technology to Honeywell.
School researchers say the technology could significantly reduce CO2 emissions from combustion flue gases at power plants.
Through the process, carbon dioxide is absorbed and then sent to a stripper, where the CO2 is separated from the solvent. It is then compressed for geological sequestration or used for other purposes. UT researchers say the technology can be retrofitted within existing plants or included as part of new installation.
The school says for a single power plant, applying the carbon capture technology would enable the capture of about 3.4 million tons of carbon dioxide annually, equivalent to removing nearly 735,000 cars from the road each year.
Honeywell said it believes the technology will lower the cost of capturing carbon emissions. The company plans to commercialize the carbon capture technology created by the UT researchers, eventually scaling it for use around the world.
“As the world proactively seeks technology solutions that limit greenhouse gas emissions, we recognize that carbon capture technology is an important lever available today to reduce emissions in carbon-intensive industries that have few alternative options, such as steel plants and fossil fuel power plants,” said Ben Owens, Vice-President of Honeywell Sustainable Technology Solutions.
Honeywell aims to become carbon-neutral by 2035. The company says it already captures and uses 15 million tons of CO2 per year.