HYCO1 to collaborate with Malaysia LNG on a 1 Mmtpa carbon capture project
HYCO1, Inc. and Malaysia LNG Sdn. Bhd. have signed a Memorandum of Understanding (MOU) to collaborate on the potential utilization and conversion of 1 Million Tons Per Annum (Mmtpa) of Carbon Dioxide (CO2).
The Carbon Capture and Utilization (CCU) Project will be located in Bintulu, Sarawak, Malaysia, the home of Malaysia LNG Sdn. Bhd. (MLNG; a subsidiary of PETRONAS), which is the CO2 supplier for the project. Bintulu is one of the oil and gas regions of Malaysia and has been recognized as the emerging global low-carbon industrial hub.
Central to this initiative is HYCO1's CUBE™ Technology, which uses CO2 as a primary feedstock to displace higher cost natural gas to produce equivalent industrial-grade syngas in customizable ratios of hydrogen (H2) and Carbon Monoxide (CO).
Under the MOU, HYCO1 and MLNG will conduct a joint feasibility study to evaluate design alternatives to produce low-cost, low-carbon syngas that best meets demand from a wide range of potential downstream syngas users. By using lower-cost CO2 feedgas to displace higher-cost natural gas, the HYCO1 CUBE™ process will disruptively produce lower CI, "blue," emissions free syngas for less than the cost of today's "gray" syngas made from using all natural gas.
The MOU also states that MLNG plans to supply an initial of 1 Mmtpa of raw CO2 to HYCO1 for a term of 20 years, beginning no later than 2030. The CCU plant is expected to be completed by 2029.
"This is very exciting for all stakeholders, including HYCO1, MLNG, and PETRONAS, and will benefit all Malaysians," said Gregory Carr, CEO of HYCO1. "We approached PETRONAS and MLNG in the hopes of helping them solve their decarbonization needs, and we feel honored to collaborate with MLNG to meet their Net Zero Carbon Emissions (NZCE) by 2050. Our revolutionary process and catalyst are game changers in decarbonization because not only do we prevent CO2 from being emitted into the atmosphere, but we transform it into highly valuable and usable downstream products.”
