teamwork

Houston-based sustainability company partners with Toshiba on carbon capture projects

Lummus Technology and Toshiba Energy Systems and Solutions Corp. announced a collaboration agreement that will have both companies pursuing carbon capture projects. Photo courtesy of Toshiba

Two global companies have announced a collaborative effort toward pursuing carbon capture projects.

Toshiba’s subsidiary Toshiba Energy Systems will provide its advanced amine-based solvents, which are specifically tailored for post-combustion carbon capture, as well as its “system design guidelines” aimed for Toshiba’s solvents. Houston-based Lummus Technology will provide its post-combustion carbon capture technology.

Lummus’ access to Toshiba’s advanced amine-based post-combustion carbon capture solvents and technology will be vital for the project. Toshiba’s amine-based post-combustion carbon has been used in commercial and demonstration plants in Japan, and have allowed capturing of over 600 tons per day of CO2. With this access, Lummus can integrate its technology into project designs, and deliver “operational excellence and a competitive cost structure for customers,” according to the company.

Lummus can offer clients an OPEX-competitive solution by incorporating Toshiba’s advanced solvents that will be characterized by reduced amine emissions, lower specific energy consumption per ton of CO2 absorbed, and higher solvent stability against degradation.

“We are delighted to collaborate with Lummus to introduce our advanced amine-based solvent and CO2 capture solution to a broader audience,” Shinya Fujitsuka, senior vice president of Toshiba Energy Systems and Solutions Corp., says in a news release. “Addressing the urgent need for decarbonization is paramount, and I have every confidence that our partnership with Lummus will enable us to make meaningful contributions towards achieving this goal.”

Both companies have been active in these innovations for years. Lummus has been a leader in post-combustion carbon capture technology since the 1990s by using latest generation solvent technology that provides the full design involving an absorber and solvent regeneration systems, which can be applied to complex combustion flue gas streams. Since 2007, Toshiba has been considered an industry leader in post-combustion amine-based solvent CO2 capture technology.

“I am excited about our partnership with Toshiba, which expands Lummus’ range of low carbon solutions and aligns with our commitment to lowering emissions for the downstream energy industry,” Leon de Bruyn, president and CEO of Lummus Technology, says in the release. “Combining Lummus’ post-combustion carbon capture technology with Toshiba’s highly competitive solvents and technology gives our customers a strong option for CAPEX and OPEX solutions as they advance their carbon capture investments.”

Lummus has recently secured other partnerships with Dongyang Environment Group to roll out Lummus' advanced plastics recycling technology in Seosan, Chungcheongnam-do, South Korea, and will be operated by Dongyang Environment's subsidiary, Seohae Green Chemical. Lummus also paired with Citroniq Chemicals to build North American plants that produce green polypropylene.

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A View From HETI

Fervo plans to sell 70 million shares of Class A common stock at $25 to $26 per share. Photo courtesy Fervo Energy

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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