ExxonMobil and Mosaic Materials have entered into an agreement to explore the advancement of breakthrough technology that can remove carbon dioxide from emissions sources.
Mosaic Materials has progressed research on a unique process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further discussion between the two companies to evaluate opportunities for industrial uses of the technology at scale.
New technologies in carbon capture will be critical enablers for us to meet growing energy demands, while reducing emissions, said Vijay Swarup, vice president of research and development for ExxonMobil Research and Engineering Company.
Our agreement with Mosaic expands our carbon capture technology research portfolio, which is evaluating multiple pathways -- including evaluation of carbonate fuel cells and direct air capture to reduce costs and enable large- scale deployment. Adding Mosaic's approach will allow us to build on their work to evaluate the potential for this technology to have a meaningful impact in reducing carbon dioxide emissions.
Through this agreement with ExxonMobil, we look to accelerate the pace of our development and demonstrate the business and environmental benefits that our technology can offer, said Thomas McDonald, chief executive officer of Mosaic Materials. Our proprietary technology allows us to separate carbon dioxide from nearly any gas mixture using moderate temperature and pressure changes, substantially increasing energy efficiency and decreasing costs.
Mosaic Materials' agreement with ExxonMobil is part of Mosaic's commitment to accelerate the impact of its innovative, low-cost technology, and is Mosaic's latest direct engagement with companies across a range of industries to demonstrate both the cost reductions and the environmental benefits of employing Mosaic's solutions.
This engagement builds upon ExxonMobil's extensive portfolio in collaboration with startups, academia and governments to develop next-generation energy technologies that improve energy efficiency and reduce greenhouse gas emissions...