ExxonMobil is significantly scaling up its carbon capture and storage (CCS) technology as part of its commitment to help U.S. industries meet the rising demand for lower-carbon products. The company has agreed to transport and store up to 6.7 million tons of captured CO2 annually, with plans to expand its customer base to include data centers, which are essential for supporting the growth of artificial intelligence (AI). This strategic move positions CCS to potentially account for up to 20% of the total addressable market for CCS by 2050. [b31ab809]
In addition to its ambitious CCS goals, ExxonMobil is currently in the front-end engineering design (FEED) phase for a facility that will generate low-carbon electricity using natural gas while capturing over 90% of CO2 emissions produced during the process. The U.S. Gulf Coast states, particularly Texas, Louisiana, and Mississippi, are identified as primary customers for CCS due to their industrial concentration and access to CO2 pipelines. Notably, these states account for 10% of U.S. manufacturing jobs and contributed to a record $1.6 trillion in U.S. manufactured goods exports in 2023. [b31ab809]
Meanwhile, Western Michigan University (WMU) has also made strides in CCS research, securing a $5 million grant from the U.S. Department of Energy to advance carbon capture, utilization, and storage technologies. This funding is part of a broader $44.5 million initiative aimed at enhancing CCS efforts across the nation. Dr. Autumn Haagsma, a key researcher at WMU, highlighted the importance of a multidisciplinary approach to effectively address the challenges associated with CCS. [3f512d0c]
The Michigan Basin has been identified as having the potential to store up to 70 gigatons of CO2, making it a critical area for CCS initiatives. WMU's project will involve collaborations with organizations such as Battelle and Miami University of Ohio, focusing on transportation logistics, risk evaluation, and community engagement. [3f512d0c]
As both ExxonMobil and WMU advance their carbon capture initiatives, the collaboration between state policies, academic institutions, and private sector innovations is essential for achieving significant environmental and economic benefits. [3f512d0c]