SeaVar joins hands with Jindal Steel and Power Group to advance low-cost carbon capture technology
Aug 08, 2023
BusinessWire India
New Delhi [India], August 8: Carbon capture is a crucial step in addressing greenhouse gas emissions from legacy sources. However, the current cost of carbon capture stands at a prohibitive USD40-60 per tonne of CO2 captured, making carbon capture and utilisation uneconomical. SeaVar, a US-based start-up led by an Indian-origin team, has developed and patented an innovative non-amine-based CO2 capture process that is expected to reduce the capture cost significantly lower to USD17 per tonne of CO2 captured. This breakthrough is a result of SeaVar’s vast experience in installing systems in various industries, including power plants. The Southern California-based technology company was founded in 2007 by an experienced Indian-origin chemical engineer with 53 years of expertise in emission capture systems.
They have now partnered with India’s Jindal Steel and Power Group (JSP) to pilot this cost-effective, non-toxic carbon capture technology and prove its techno-commercial viability. SeaVar’s technology would be a game-changer in reducing carbon emissions across the globe. SeaVar has set an ambitious target of capturing and storing or reusing 250 million CO2 tonnes annually by 2030, which could be a game-changer in the fight against climate change.
Shreyas Chipalkatty, CEO, SeaVar LLC, said, “The energy transition is underway but will take time to be delivered. SeaVar’s path-breaking carbon capture technology allows the responsible use of fossil fuels without disrupting existing energy infrastructure. By capturing CO2 at the lowest cost, SeaVar also makes possible the foundation of a new carbon economy with benefits in synthetic fuels, soil regeneration and food security. India’s G20 Presidency has focused on environmental issues. We are grateful to CEEW and JSP Group for a partnership that will assist India’s carbon management leadership.”
Debasis Maiti, Executive Vice-President, JSP Group, “Jindal Steel and Power Group (JSP) has always been the leader in promoting innovative and environmentally friendly technologies from the very beginning. JSP Group has taken a number of initiatives to reduce its carbon footprint through carbon minimisation, carbon avoidance and carbon recycling with an objective to spearhead decarbonisation initiatives in the iron and steel sector in India, which is considered a hard-to-abate sector. We also believe that the increase in carbon capture and utilisation practices will help us in achieving our mission of net-zero carbon at an accelerated pace."
Indian think tank, the Council on Energy, Environment and Water (CEEW), is a knowledge partner of SeaVar and it plans to evaluate the impact of such low-cost technology along with identifying other end-use cases.
Hemant Mallya, Fellow, Council on Energy, Environment and Water (CEEW), said, “As India continues its journey towards a greener and more sustainable future, the adoption of advanced carbon capture technologies will be critical. CEEW has been actively working on researching carbon capture, utilisation and storage in India. New technologies such as SeaVar’s could make carbon capture economically viable and open new possibilities for utilising captured carbon dioxide in value-added products or permanently storing it underground.”
According to a recent study by CEEW, India possesses a significant theoretical carbon storage capacity of 629 gigatonnes. A large amount of CO2 can be leveraged to produce chemicals and fuels. But carbon capture and utilisation hinges on the availability of cost-effective capture solutions. To unlock the potential of carbon capture utilisation and storage, a substantial reduction in the cost of capture is necessary.
(Disclaimer: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
