Fluor Corporation announced today its memorandum of understanding (MOU) with Carbfix, the world’s first carbon dioxide (CO2)mineral storage operator, to pursue integrated carbon capture and storage (CCS) solutions. Together, the companies look to minimize the impacts of climate change by helping to decarbonize hard-to-abate industries with high greenhouse gas emissions, such as steel, aluminum and cement.

(l-r) Fluor Business Incubation Executive Director, Jim Shih, and Carbfix CEO, Dr. Edda Sif Pind Aradóttir, pen a memorandum of understanding between the two companies to collaborate on carbon capture and storage solutions. (Photo: Business Wire)

The companies will leverage their respective expertise to partner with clients looking for end-to-end CO2 reduction. Fluor will provide its proprietary Econamine FG PlusSMcarbon capture technology and its breadth of engineering, procurement and construction experience. Carbfix’s transformative technology dissolves CO2 in water and injects it into porous basaltic rock formations, where natural processes cause the CO2 to form stable carbonate minerals within two years.

“Fluor has been a leader in carbon capture for more than 35 years,” said Jason Kraynek, president of Fluor’s Production & Fuels business. “Our collaboration with Carbfix is the next step in offering technical expertise and integrated solutions across the CCS value chain to reduce emissions. Together, we can build on Carbfix’s demonstrated success of safely mineralizing carbon dioxideunderground.”

“Achieving the world’s climate targets requires significant upscaling of carbon capture and storage,” said Edda Aradóttir, CEO of Carbfix. “Our proven method of subsurface mineralization of CO2 accelerates natural processes to achieve safe, cost-effective and permanent storage. Our collaboration with Fluor is an important step for Carbfix as we work towards bringing our operations to the megaton scale.”

Carbfix has applied its method of turning CO2 into stone underground for more than a decade in Iceland. The company currently captures and mineralizes one-third of the CO2 emissions from Iceland’s largest geothermal power plant, with the goal of increasing this rate to 95% by 2025.

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