TOKYO, Sept 23, 2020 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it will be providing financing to Blue Planet Systems Corporation (Blue Planet), a company based in California that has developed technologies to produce CO2-sequestered aggregates(1). MC has also entered into a partnership with Blue Planet to help commercialize the technologies.
|Blue Planet's Technology Process Flow|
Blue Planet's Technologies
Since its founding in 2012, Blue Planet has worked to develop and commercialize a scalable solution for climate change mitigation that is both economically and technically sustainable. One of Blue Planet's cutting-edge technologies captures CO2 emissions from power plants and other facilities to create CO2-sequestered aggregates. Another makes effective use of industrial waste, including demolished and unused returned concrete to produce upcycled aggregates. These technologies have already been used in the construction of an interim boarding area at San Francisco International Airport. MC and Blue Planet will be conducting a feasibility project on possible applications in Silicon Valley until fiscal year 2021, after which the partners plan on making the technologies commercially available.
Global CO2 emissions continue to rise each year, and in 2018 they reached over 33 billion metric tons, nearly 20% of which were produced by industry(2). The largest emitters were the energy and shipping sectors, followed by the industry sector including the cement industry. In order to meet the targets set forth by the Paris Agreement, businesses worldwide must promote greater use of not only renewables and low-carbon fossil fuels, but also carbon capture, utilization and storage (CCUS) technologies. The sheer size of the global concrete market means that widespread use of technologies capable of sequestering CO2 in concrete could reduce the amount of CO2 in our atmosphere by billions of tons.
CCUS technologies are an opportunity for MC to leverage the breadth of its business portfolio. This commercialization initiative with Blue Planet joins other efforts by MC to help realize both low-carbon societies and its three-value mission(3). Similar ventures in recent months include the "Technology Development for Para-xylene Production from CO2" project announced on July 14, and the "R&D on Use of CO2 in Concrete" project announced on August 5.
(1) Aggregates are inert granular materials such as sand, gravel, or crushed stone. They comprise as much as 80% of a typical concrete mix.
(2) Source: IEA
(3) Simultaneous creation of economic, societal and environmental value
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
Sept 23, 2020 15:00 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
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