Latvia: Capsol Technologies to Conduct Feasibility Study for Carbon Capture Technology
Capsol Technologies has been awarded a feasibility study for their carbon capture technology at SCHWENK's cement plant in Latvia.
The study aims to capture an annual total of 750,000 tonnes of CO2. Capsol Technologies is focused on the cement industry, a key segment predicted to contribute over 300 million tonnes of captured CO2 by 2030.
Capsol Technologies, a leading provider of carbon capture solutions, has secured a contract to conduct a feasibility study for their CapsolEoP® (end-of-pipe) carbon capture technology at SCHWENK's Building Material Group's Broceni cement plant in Latvia. The study is part of a larger initiative by SCHWENK Latvija, which is a member of the CCS Baltic Consortium. The consortium was recently included in the European Commission's 6th list of Projects of Common Interest in November 2023. The ultimate goal is to transport captured CO2 from Lithuania and Latvia to permanent storage sites, potentially in the North Sea.
The feasibility study focuses on the plant's capability to capture an impressive 750,000 tonnes of CO2 annually, contributing significantly to reducing carbon emissions. Capsol Technologies has targeted the cement industry as a key sector, in line with the International Energy Agency's projection that it will account for 30% of the total carbon capture market, with an estimated 300 million tonnes of CO2 captured by 2030.
This project serves as a significant opportunity for Capsol Technologies, as their current project pipeline includes 10 large-scale cement projects in various stages of development. These projects have a combined potential to capture 11 million tonnes of CO2 per year, reinforcing Capsol's commitment to sustainable solutions for the cement industry.
Source:
marketscreener.com
