Carbon Clean Solutions Limited (CCSL), a leader in low-cost carbon dioxide (CO2) capture and separation technology, announced a partnership with Marubeni Corporation of Japan.
Marubeni and CCSL will jointly support and develop Carbon Capture Utilisation and Storage (CCUS) projects on a build-own-operate model. Projects in Europe will start immediately, focusing on capturing CO2 for utilisation in each market locally.
Marubeni and CCSL will be actively looking to advance the partnership by investing in additional global projects.
Marubeni invested in CCSL via the latest $22 million Series B funding round. CSL will use the funds to grow the CCSL team and deliver its CO2 capture technology for CCUS projects across the steel, cement, waste management and refining & petrochemicals sectors.
Marubeni, with its global business portfolio, is targeting an increase in its “Green Revenue” from JPY 700 billion to 1.3 trillion by 2023, said Takashi Yao, chief operating officer of Infrastructure Project Division of Marubeni Corporation.