- Pilot Energy (PGY) has partnered with Svante Technologies to reduce eight million tonnes of CO2 emissions per year in Western Australia’s Kwinana Industrial area
- The two businesses plan to integrate Svante’s carbon capture technology with Pilot’s Cliff Head CO2 storage project
- Pilot says the Cliff Head project is an “integral” part of its Mid West Clean Energy project, under which it aims to convert the operating Cliff Head offshore oil field into a fully integrated carbon capture and storage operation
- The project has the potential to provide a carbon management solution for 15-25 per cent of the Kwinana Industries Council members’ reported scope-one emissions
- PGY shares are up 8.33 per cent and trading at 1.3 cents at 3:48 pm AEST
Pilot Energy (PGY) has teamed up with Canada-based carbon capture provider Svante Technologies to reduce eight million tonnes of CO2 emissions per year in Western Australia’s Kwinana Industrial area.
The two parties have signed a memorandum of understanding (MOU) under which they plan to integrate Svante’s carbon capture technology with Pilot’s Cliff Head CO2 storage project.
Pilot said its CO2 storage project was an “integral” component of its Mid West Clean Energy project, which would see the company convert the operating Cliff Head offshore oil field into a fully integrated carbon capture and storage operation.
This will enable the permanent storage of CO2 and the production of blue hydrogen, green hydrogen and ammonia.
The company said the project had the potential to provide a carbon management solution for 15-25 per cent of the Kwinana Industries Council members’ reported scope-one emissions.
Matt Stevenson, Svante’s Chief Revenue Officer & Acting CFO, said the company was “excited” about the opportunity to help Australia decarbonise one of the country’s largest CO2-emitting regions.
Brad Lingo, Pilot’s Chairman, shared similar sentiments.
“Svante’s innovative solid sorbent carbon capture technology is an ideal solution to efficiently capture the Kwinana Industrial Area’s hard-to-avoid CO2 emissions, and we’re enthusiastic about this new collaboration,” Mr Lingo said.
PGY shares were up 8.33 per cent and trading at 1.3 cents at 3:48 pm AEST.