Toshiba and Cosmo Energy partner to study carbon capture
Carbon monoxide is attracting attention as a useful substance for carbon capture and utilisation (CCU). It can be used as a raw material for alcohols, such as methanol and ethanol, which are key substances in chemical products and energy applications—as well as synthetic fuels by making it react with hydrogen.
Cosmo Energy Holdings Co., Ltd. and Toshiba Energy Systems & Solutions Corporation are conducting a joint study toward the realisation of carbon capture and utilisation that converts CO2 into a valuable resource by utilising CO2 electrolysis.
Toshiba ESS is working towards its vision of a world where people everywhere can access the energy they need to improve their quality of life. Toshiba Group is working towards net zero by 2050, and 50% reduction in greenhouse gas emissions across the value chain by 2030. Toshiba ESS is contributing to the progress of Toshiba Group's goals by reducing greenhouse gas emissions from business activities under Scope 1 and 2, and by providing equipment, systems, and services for power generating and transmitting systems and energy management technology under Scope 3.
The Cosmo Energy Group is also working towards net zero by 2050 as part of its sustainability strategy.
“COSMO remains committed to challenging ourselves so that we can continue to be an energy company that helps facilitate harmony and symbiosis between our planet, humans and society in these changing times,” shares Shigeru Yamada, CEO of Cosmo Energy Holdings, Co., Ltd.
“To maximise the value we provide as a corporation in this era of rapid change, we have formulated "Vision 2030" as our medium- to long-term aspiration and launched The Seventh Consolidated Medium-Term Management Plan, starting in fiscal 2023, under the slogan "Oil & New ~Next Stage~." In addition to safely and stably delivering petroleum-based energy, our current core business, to our customers and generating solid earnings, we will reinvest profits in renewable energy and related services that will support the coming era and nurture our next-generation business portfolio.”
Carbon capture powered by renewable energy
Toshiba ESS will provide a CO2 electrolysis technology that electrolyses CO2 to produce carbon monoxide at a high conversion rate.
The Cosmo Energy Group will use this technology to produce a valuable derived from CO2 emitted from its refineries and other facilities — all of which will be powered by renewable energy from Cosmo Energy Group.
Through this joint study, both Cosmo Energy Holdings and Toshiba ESS aim to realise carbon capture and utilisation utilising CO2 electrolysis technology at refineries and other facilities operated by the Cosmo Energy Group. In addition, the two companies will also consider using oxygen produced as a byproduct of CO2 electrolysis to contribute to energy conservation and reduction of CO2 emissions at refineries.
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