- US-based clean tech company Carbonxt (CG1) has secured a $2 million contract with chemical products supplier, Univar Solutions
- Carbonxt will supply its Activated Carbon (AC) pellets to Univar who’ll then supply them to its customers in the LNG industry as a way of reducing emissions
- CG1 Managing Director Warren Murphy says the contract is a “significant development” as there’s a growing demand for ways to meet sustainability and decarbonisation goals
- Company shares have ended the day 16 per cent higher at 29 cents
US-based clean tech company Carbonxt (CG1) has secured a $2 million contract with chemical products supplier, Univar Solutions.
Under the contract, Carbonxt (CG1) will supply Univar Solutions with its Activated Carbon (AC) pellets. In turn, Univar will supply the AC pellets to its customers in the liquefied natural gas (LNG) industry.
The AC pellets will be manufactured and supplied from CG1’s facility in Minnesota as well as from a proposed manufacturing facility in Kentucky once it’s fully operational.
The patented AC pellets will be used to capture harmful pollutants resulting from the liquefaction/regasification process within the LNG sector.
Carbonxt Managing Director Warren Murphy said entering the LNG sector is a “significant development” for the company as there’s a growing demand for solutions to meet sustainability and decarbonisation goals.
“I expect our first deployment to act as a valuable reference point to other participants in the industry and display the benefits of our AC pellet technology in removing harmful toxins from the operations at LNG facilities,” he said.
CG1’s AC pellets offer a new solution to reduce emissions through the removal of hydrocarbons within the LNG sector. Therefore, the deployment of Carbonxt’s products is set to provide LNG facilities with another way to further decarbonise their operations.
The contract has an initial one-year term but has the potential to be extended.
Shares ended the day 16 per cent higher at 29 cents.