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Inventys Thermal Technologies to Receive US Federal Funding to Participate in $3.7 Million Collaborative Research Project
Monday, March 18, 2019Company Profile | Follow Company
Burnaby, BC, March 18, 2019--(T-Net)--Burnaby-based Inventys Thermal Technologies will receive US federal funding to participate in a collaborative $3.7 million project for cost-shared research and development (R&D) to develop an optimized, commercially feasible carbon dioxide (CO2) capture technology architecture.
U.S. Secretary of Energy Rick Perry announced the selection of eight projects to receive nearly $24 million in federal funds for cost-shared research and development (R&D) for Novel and Enabling Carbon Capture Transformational Technologies.
The selected projects will focus on the development of solvent, sorbent, and membrane technologies to address scientific challenges and knowledge gaps associated with reducing the cost of carbon capture. Secretary Perry announced these projects today at a joint press conference with International Energy Agency Executive Director, Dr. Fatih Birol.
"By 2040 the world will still rely on fossil fuels for 77% of its energy use. Our goal is to produce them in a cleaner way," said U.S. Secretary of Energy Rick Perry. "These projects will allow America, and the world for that matter, to use both coal and natural gas with near-zero emissions."
These transformational carbon capture projects are funded by the Office of Fossil Energy's (FE's) Carbon Capture Program. The National Energy Technology Laboratory will manage the projects, and the Inventys project is described below:
The scope of these projects aligns with the scientific challenges and knowledge gaps identified in the DOE ministerial-level Mission Innovation report, Accelerating Breakthrough Innovation in Carbon Capture, Utilization, and Storage, which can be found here. These selected projects will join 11 other projects previously chosen by FE to receive approximately $28.9 million during the first closing of this FOA in fiscal year 2018.
More information about DOE's Office of Fossil Energy can be found HERE. More information about the National Energy Technology Laboratory is available HERE.
About Inventys
Inventys Thermal Technologies Inc., headquartered in Vancouver, BC, Canada, is a leading carbontech company with a vision to be a global leader in building a CO2 marketplace and enable the mass market for bulk distributed CO2 supply by being a focused low-cost supplier. Inventys is working to create new market spaces by leveraging its breakthrough carbon capture technology. For more information, please visit www.inventysinc.com.
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