Exxon Mobil, Global Thermostat to develop carbon dioxide capturing technology
Exxon Mobil and Global Thermostat have signed a joint development agreement to advance technology that can capture and concentrate carbon dioxide emissions from industrial sources, including power plants, and the atmosphere. The companies will evaluate the potential scalability of Global Thermostat's carbon capture technology for large industrial use. If technical readiness and scalability is established, pilot projects at ExxonMobil facilities could follow. ExxonMobil and Global Thermostat are also exploring opportunities to identify economic uses for captured carbon dioxide. ExxonMobil's partnership with Global Thermostat expands the company's collaborative efforts with other companies and academic institutions that are focused on developing new energy technologies, improving energy efficiency and reducing greenhouse gas emissions.