10/18/2021 | Press release | Distributed by Public on 10/19/2021 04:57
Chart has signed a Memorandum of Understanding (MOU) with Ionada, a global leader in the development, manufacturing and marketing of exhaust gas cleaning systems that reduce emissions from the marine and power generation industries, to collaborate on Carbon Capture and Sequestration (CCUS) projects that will leverage Ionada's carbon capture technology with Chart's extensive expertise in CO2 storage and handling systems. The non-exclusive cooperation agreement will see both companies develop and use technology to reduce the carbon footprint of the shipping industry. Carbon captured via Ionada's technology can be stored onboard in Chart CO2 ISO containers or in engineered built-for-purpose type C tanks and then offloaded at ports. Once offloaded, the CO2 can either be permanently stored in geological formations or put to beneficial use in CO2-consuming industries, such as the agricultural, industrial, energy, or food and beverage sectors.
"We are thrilled to partner with Ionada to help improve the carbon footprint of the shipping industry," said Chart CEO Jill Evanko. "The solutions being developed with Ionada will greatly benefit the maritime sector and help ship owners reach greenhouse gas emission targets set forth by the International Maritime Organization (IMO). This is also a great example of how our equipment is agnostic to the process itself - it can work with various process solutions to offer the most flexibility to our end customers."
The International Maritime Organization (IMO) aims to reduce carbon intensity in international shipping by 40% by 2030, and to cut the total annual greenhouse gas emissions from international shipping by at least 50% by 2050 compared to 2008.