ExxonMobil creates CO₂ capture business unit

ExxonMobil has created a dedicated business unit for its carbon capture operations. ExxonMobil Low Carbon Solutions will get an initial investment of $3 billion to develop more than 20 carbon capture and storage (CCS) projects worldwide, the firm says. In addition to building CCS facilities, ExxonMobil is working with FuelCell Energy, Global Thermostat, and Mosaic Materials on carbon capture chemistry based on carbonates, amines, and metal-organic frameworks, respectively. Separately, CCS firm Svante recently raised $75 million to develop its nanoporous solid sorbent to capture CO₂ from flue gas.