Yinson is aiming to leverage advanced carbon capture technology to reduce greenhouse gas emissions from its FPSO operations.
The company announced its Yinson Production Offshore Pte Ltd arm has made a strategic investment in Ionada, developer of innovative carbon capture technology.
According to Yinson, Ionada's technology has potential to support the offshore oil and gas industry's transition to low-carbon operations. Furthermore, the technology presents new business opportunities to decarbonize the hard-to-abate industries and facilitates Yinson Group Berhad to participate in the carbon credit value chain, the company said.
Ionada develops, manufactures, and markets exhaust gas cleaning systems that reduce emissions from the marine and power generation industries. It has developed a process for post-combustion carbon capture, that combines proprietary hollow fibre membrane contactors with proven amines absorbents. This modular carbon capture system is designed and engineered for small, to mid-sized industrial emitters, including the energy, marine and e-fuels industries. Based on the Ionada’s current phase of in-lab studies, its carbon capture technology has the capability of reducing more than 95% of carbon emissions.
Lars Gunnar Vogt, Yinson Production’s Chief Technical Officer, said, “Yinson Production is always looking for the latest technological ideas and breakthroughs in decarbonizing offshore production. Our investment in Ionada's advanced carbon capture technology is a significant step towards our commitment to lowering our carbon footprint. Their carbon capture solution, which has demonstrated the potential to reduce carbon emissions by more than 95%, is a key component of our Zero Emissions FPSO concept. This technology will also pave the way for new business opportunities and our participation in the carbon credit value chain. Our aim is to revolutionize carbon capture and sequestration within the energy sector, and this partnership with Ionada is a significant milestone in that journey.”
Ionada Chief Executive Officer Edoardo Panziera, said, “Applying carbon capture to the production of hydrocarbons will play a key role in achieving meaningful carbon emission reductions and decarbonizing energy. We are honored to partner with Yinson Production and believe this key milestone will facilitate meaningful advances in our innovative technology."