The company is assessing available CSS assets and forming cross-functional teams to guide the CSS acquisition and development project through the acquisition, technological adaptation, and system integration development phases.
The company will complete its due diligence regarding a select group of nascent CSS assets and operations and issue investor updates accordingly.
The company recently started Phase II of its growth and acquisition strategy and the diversification and expansion of its current asset holdings with the launch of its ‘New Energy Initiative’. The company will continue its acquisition and development initiatives in the new energy sector, which includes clean energy, energy smart technologies and carbon capture and storage.
According to a new report from Pike Research, global revenues for CCS systems could reach as high as $221bn by 2030.
Industry and political leaders consider CCS as a potential approach to address greenhouse gas (GHG) emissions. Because emissions from power plants and industrial facilities are a primary driver of GHGs, CCS is considered by many to be a required set of technologies to slow, if not reverse, the expected rise in the earth’s temperature.
