INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Four firms to partner for Co2 removal

ADNOC is also progressing with preparation for the proposed establishment of Borouge Group International. (WAM)
  • The technology permanently mineralizes carbon dioxide (CO2) within rock formations found in the Emirate of Fujairah.
  • Fujairah has been selected for this pilot for to its abundance of peridotite, a form of rock that naturally reacts with CO2 to mineralize it.

Abu Dhabi, UAE–ADNOC Tuesday announced a partnership with the Fujairah Natural Resources Corporation (FNRC), Abu Dhabi Future Energy Company (Masdar) and 44.01 to pilot technology that permanently mineralizes carbon dioxide (CO2) within rock formations found in the Emirate of Fujairah.

The announcement was made at the Abu Dhabi Sustainability Week (ADSW).

The project, due to commence in January 2023, will use 44.01’s Earthshot prize-winning Carbon Capture and Mineralization (CCM) technology to eliminate CO2 from the atmosphere. It will be the first CCM project by an energy company in the Middle East.

Fujairah has been selected for this pilot for to its abundance of peridotite, a form of rock that naturally reacts with CO2 to mineralize it.

In this pilot, CO2 will be captured from the air, dissolved in seawater, and then injected into peridotite formations deep underground, where it will mineralize – ensuring that it cannot escape back into the atmosphere.

The project will be powered by solar energy supplied by Masdar. A successful pilot would open the possibility of mineralising billions of tons of captured CO2 across the region.

Talal Hasan, Founder and CEO of 44.01, stated, “Removing CO2 from the atmosphere is vital if we are to halt and ultimately reverse climate change. Unlike CO2 storage, mineralization removes CO2 permanently by turning it into rock, minimizing the need for long-term monitoring and insurance. This pilot will enable us to test our technology at scale, on our way to offering a safe, cost-effective, natural solution for eliminating captured CO2 internationally.”