Technology expected to reduce emissions by approximately 95%
Fluor Corporation (NYSE:FLR) announced today that Chevron New Energies has signed a license agreement with Fluor to use its proprietary Econamine FG PlusSM carbon capture technology to reduce carbon dioxide (CO2) emissions at Chevron's Eastridge Cogeneration facility in Kern County, California. Fluor recognized the undisclosed license award in the fourth quarter.
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"We are pleased to help Chevron achieve their CO2 reduction goals through the use of our carbon capture technology," said Jim Breuer, Group President of Fluor's Energy Solutions business segment. "We are seeing significant activity across the globe in carbon capture and are pleased to employ our Econamine FG Plus technology to this important project."
When installed, Fluor's carbon capture solution is expected to reduce the Eastridge facility's carbon emissions by approximately 95%. As part of the licensing agreement, Fluor will develop a process design package, supply proprietary equipment and provide technical support services throughout various stages of the project.