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illuminem summarizes for you the essential news of the day. Read the full piece on Nikkie Asia or enjoy below:
🗞️ Driving the news: Japan's Marubeni has partnered with U.S. company Ozona to capture 10 million tonnes of carbon emissions annually in North America by 2030
• The project will focus on capturing carbon from natural gas processing plants in Texas
Marubeni has acquired a 50% stake in Ozona’s operations for around $6.95 million
🔭 The context: This joint venture marks a significant move by Marubeni into North America’s carbon capture market, with plans to expand operations into Canada
• Carbon capture and sequestration (CCS) is becoming an essential tool in reducing emissions from industrial sources, especially in energy-intensive sectors like natural gas
🌍 Why it matters for the planet: Large-scale carbon capture projects like this are critical to mitigating industrial carbon emissions, which is essential for achieving global climate targets and reducing the impact of fossil fuel use
⏭️ What's next: The project aims to scale operations to capture and store 10 million tonnes of CO₂ per year by 2030, with potential expansions across North America
💬 One quote: “This partnership with Ozona is an important step toward achieving our long-term goal of advancing sustainable energy solutions while contributing to global carbon reduction efforts.” — Marubeni representative
📈 One stat: Marubeni's investment in the joint venture amounts to $6.95 million for a 50% stake
Click for more news covering the latest on carbon capture & storage
