On Tuesday, Baker Hughes (NASDAQ: BKR) and HIF Global, the world's top eFuels firm, declared their collaboration to develop technology that captures carbon dioxide directly from the atmosphere, known as "CO2 Direct Air Capture" or "DAC." HIF Global and Baker Hughes will collaborate to test Baker Hughes' Mosaic DAC technology pilot units with the aim of speeding up the deployment of DAC on a commercial scale.
Cesar Norton, HIF Global CEO, said, “Groundbreaking technologies like Mosaic that enable efficient, low-cost CO2 capture from our atmosphere represent the future of CO2 recycling. Cooperation with our partner Baker Hughes on this important DAC initiative accelerates our plan to capture 25 million tons per year of CO2 and combine it with green hydrogen to produce 150,000 barrels per day of eFuels and decarbonize over 5 million vehicles in use today.”
“Collaboration is key to supporting and accelerating the energy transition to address climate change, and we are pleased to work alongside HIF to support their significant efforts in deploying eFuels at scale, leveraging our Mosaic DAC technology,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “This milestone agreement further illustrates the strength of Baker Hughes’ extended portfolio of Climate Technology Solutions, which includes a variety of CCUS technologies, and validates our strategy and commitment toward decarbonisation.”
Baker Hughes acquired Mosaic Materials in April 2022 to bolster its carbon capture, utilisation, and storage (CCUS) portfolio. Mosaic is dedicated to developing a direct air capture technology that employs Metal-Organic Framework (MOF) materials to extract CO2 from the atmosphere. Baker Hughes is utilising its advanced capabilities, such as modular design and material science, to develop and expand Mosaic's innovative technology, with the aim of enabling direct air capture that is more efficient and less expensive.
HIF has identified two potential locations for the deployment of Baker Hughes' Mosaic DAC technology. The HIF Haru Oni eFuels Facility in Chile began producing its first fuels in December 2022 in Magallanes. The eFuels facility generates green hydrogen from wind power and water, and then combines the hydrogen with recycled carbon dioxide to produce eFuels, synthetic fuels that can be used in existing vehicles without any engine modifications. HIF Global is also finishing the engineering work for the first world-scale eFuels facility in Matagorda County, Texas, and plans to start construction in 2024.