Agreement aims to provide customers a carbon capture solution for power plants from two leading energy solution providers
Bengaluru, NFAPost: Honeywell announced on Wednesday a collaborative endeavor with SAMSUNG E&A to jointly market solutions aimed at the hard-to-abate power plant sector globally.
The initiative seeks to reduce carbon emissions and contribute to the fight against climate change. It also supports Honeywell’s alignment of its portfolio to three powerful megatrends, including the energy transition.
Samsung E&A, a total solutions provider for the global energy industry, will leverage Honeywell’s industry-leading carbon capture technologies to help power plants reduce carbon emissions and meet environmental goals. Together, the companies will offer customers access to a carbon capture solution by jointly marketing Honeywell’s advanced solvent carbon capture (ASCC) technology.
Samsung E&A President and Chief Executive Officer Hong Namkoong said as two carbon capture leaders, the collaboration highlights the importance of cooperative approaches in reducing greenhouse gas emissions.
“Deploying Honeywell’s carbon capture technologies allows SAMSUNG E&A to offer viable, more sustainable solutions for global clients during this energy transition,” said Samsung E&A President and Chief Executive Officer Hong Namkoong.
Carbon capture, utilization, and storage (CCUS) can significantly reduce carbon dioxide (CO2) emissions, acting as a crucial stopgap during the expected transition from fossil fuels to lower carbon energy sources. These technologies help to mitigate the environmental impact of various industries responsible for greenhouse gas emissions.
Honeywell Energy and Sustainability Solutions President and CEO Ken West said Honeywell has long been a global leader in carbon capture technologies and the collaboration with Samsung E&A only further highlights Honeywell commitment to reducing emissions and tackling climate challenges.
“With decades of experience and a broad portfolio of carbon capture solutions, we are ready to help businesses meet growing carbon mitigation expectations and increasingly stringent environment goals by abating emissions from existing sources,” said Honeywell Energy and Sustainability Solutions President and CEO Ken West.
Honeywell’s CCUS technologies have been developed and deployed in numerous applications globally. Between 2023 and 2030, Honeywell estimates that the company’s CCUS technologies will have a cumulative impact of mitigating 320 million metric tons of CO2e.[1]
