Malaysian oil company Petronas has agreed to work with technology company LanzaTech to accelerate the development and commercialization of technologies to produce sustainable chemicals from carbon dioxide (CO2) and natural gas, the firms said on Monday.
The companies said the agreement blends Petronas' deep experience and assets in the petroleum industry with LanzaTech's gas fermentation technology to create an economical and sustainable source of high-value chemicals.
LanzaTech's fermentation process converts carbon monoxide (CO) in industrial waste gases, reformed natural gas and gas derived from any biomass source, into low-carbon fuels and chemicals.
In this collaboration, the firms say they will work together to extend the technology to include carbon dioxide (CO2) containing gases from several sources, including refinery off gases and natural gas wells, to produce acetic acid.
Petronas and LanzaTech have the ability to significantly impact the future of carbon capture by fundamentally changing the way we deal with waste CO2," said LanzaTech CEO Jennifer Holmgren.
Rather than trying to sequester carbon deep into the earth, we will bury it in a chemical. In this way, companies can not only comply with emissions reduction requirements, but also generate revenue along the way.