KC8 Capture Technologies Limited is pleased to announce that it has entered into an MoU with Pilot Energy (ASX: PGY) to collaborate on offering a Carbon Capture and Storage (CCS) solution, with an initial focus on Pilot’s industrial customers near the Cliff Head CCS Project in the Mid West region of Western Australia.
The Key MOU Objectives
The objective under the MoU is for Pilot and KC8 to develop CO2 capture and permanent storage solutions for industrial customers in Western Australia. Pilot’s Cliff Head CO2 storage project (Cliff Head CCS Project) is an integral component of its Mid West Clean Energy project (MWCEP).
The Cliff Head CCS Project involves the conversion of the operating Cliff Head offshore oil field into a permanent CO2 storage operation capable of storing over 1 million tonnes per annum of CO2 on a continuous basis through to 2050, with over 50 million tonnes of potential total storage capacity.
The MWCEP aims at producing over 1.2 million tonnes per annum of low cost, clean ammonia for export with approximately 99% carbon capture through fully integrated carbon capture and storage utilising the Cliff Head CCS Project.
KC8 Continue to Focus on Supporting Industry to Reduce Carbon Emissions
KC8’s business has always focused on developing the best possible CO2 capture technologies that will enable the hard to abate industries to economically reduce their carbon emissions.
We have always anticipated partnering with companies that can provide the transport and sequestration elements of the CCS value chain. Pilot Energy have the infrastructure to develop a permanent sequestration solution that will allow industries in WA to utilise KC8’s low-cost capture technology and cost effectively permanently remove the CO2 from the environment.
KC8 will now work with Pilot Energy to create a commercial demonstration project that will show industrial emitters that this process is a cost-effective, reliable solution that is available in the near term that will allow them to meet their 2030 climate goals.
Bringing Together Two Australian Companies For a Greener Future
Reaching global and national clean energy targets will require input from companies all over the world. KC8 believe that CCS will play a major role in this transition.
“KC8 is excited to be partnering with Pilot in this critical CCS development for Australia. CCS is a major part of the global decarbonisation road map and is critical to Australia in meeting its 2050 climate targets.
This is a great opportunity for two Australian companies to demonstrate the cost-effective capture and sequestration of CO2 from hard to abate industries in WA. We look forward to successfully progressing this agreement through to a full commercial demonstration supporting the Cliff Head CCS Project.” Said Greg Ross, KC8 Executive Director.
Pilot also held similar sentiments about this collaboration and what it means for both organisations.
“Pilot is thrilled to be working with KC8 and to be backing a carbon technology developed here in Australia. The KC8 team has been focussed on the development and deployment of CCS here in Australia since its inception and has an excellent understanding not only of the technologies needed but also the operational considerations that major
Australian industrial emitters have about integrating new technologies and carbon solutions into their existing operations. We are extremely excited about being able to offer a comprehensive, cost-effective carbon capture and storage solution which Australian industrial carbon emitters need.” said Brad Lingo, Pilot’s Chairman.
KC8 is committed to assisting in creating a greener future for generations to come. To learn more about this exciting collaboration, please refer to the ASX Announcement released by Pilot Energy on Friday, 9th June. Alternatively, please contact KC8 Capture Executive Director, Mr Greg Ross.