Abby L. Harvey
GHG Monitor
5/30/2014
Texas-based Skyonic Corp. will receive $12.5 million in funding from ConocoPhillips and Enbridge Inc. to help develop its SkyCycle carbon capture technology through an arrangement announced this week. The SkyCycle process, developers say, has the potential to drastically reduce the cost of carbon capture as well as create saleable products. “Skyonic’s ability to efficiently capture CO2 and transform it into commercially viable products is an attractive opportunity that supports our commitment to sustainable development,” said George Coyle, ConocoPhillips Technology Ventures Investments manager. Skyonic has also recently received $500,000 CAD (roughly $460,660 USD) from the Climate Change and Emissions Management Corporation (CCEMC), an Alberta-based non-profit, to support research and development of a SkyCycle pilot plant.
The SkyCycle technology, Skyonic says, can capture upwards of 94 percent of CO2 emissions from flue gas, regardless of concentration, for a considerably lower cost than other methods. According to a Skyonic release, “while current industry estimates place the cost of carbon capture between $150 and $450 per ton, SkyCycle uses a thermolytic chemical reaction to capture carbon dioxide emissions at costs estimated to be between $16 and $25 per ton, significantly lower than industry averages.” The SkyCycle process then converts CO2 into saleable products such as hydrochloric acid and limestone, which can then be used in the production of glass, paint, PVC pipe and a number of other products.
With the Environmental Protection Agency’s (EPA) proposed emissions standards for new and existing power plants on the horizon, this technology may prove vital to the future of the industry, Skyonic founder and CEO Joe Jones said. “Stationary emitters are facing a lot of uncertainty right now, with new, stricter EPA regulations expected to be proposed next month. As emissions regulations continue to develop over the next several years, SkyCycle can help the industry to evolve with them. It offers both new and existing plants the flexibility to adjust to a changing environment at a cost that remains easily within reach for any stationary emitter,” Jones said.
SkyCycle is the third installment in Skyonic’s emissions management suite which includes SkyMine, an electrolytic carbon capture technology. A commercial scale SkyMine project is currently in the works at the Capitol Aggregates Cement Plant in San Antonio, Texas, and is reportedly on track for full operation later this year. Skyonic also offers SkyScraper, a scrubber which removes sulfur and nitrogen oxides, mercury and other heavy metals.
