Yinson Production has made a strategic investment in Ionada PLC (“Ionada”), recognising Ionada’s innovative carbon capture technology and its potential value in emissions reduction.
The investment demonstrates Yinson Production’s commitment to reducing greenhouse gas emissions from our offshore operations. Ionada’s technology has enormous potential to support the offshore oil and gas industry’s transition to low-carbon operations. Furthermore, the technology presents new business opportunities to decarbonise the hard-to-abate industries and facilitates Yinson to participate in the carbon credit value chain.
Ionada, a pioneer in maritime emissions control, develops, manufactures, and markets exhaust gas cleaning systems that reduce emissions from the marine and power generation industries. It has developed a process for post-combustion carbon capture, that combines proprietary hollow fibre membrane contactors with proven amines absorbents. This modular carbon capture system is designed and engineered for small, to mid-sized industrial emitters, including in the energy, marine, and e-fuels industries. Ionada has conducted extensive research and development and completed successful testing in a lab setting. The technology complements Yinson’s Zero Emissions FPSO concept and bodes well with its climate strategy and investment to support a sustainable and inclusive energy transition. Based on the Ionada’s current phase of in-lab studies, its carbon capture technology has the capability of reducing more than 95% of carbon emissions. This will present a strong potential to revolutionise carbon capture and sequestration within the energy sector.
The investment in Ioanda is part of Yinson Production’s continuous sustainability efforts in reducing carbon emissions and being the frontrunner in decarbonising the FPSO industry towards the goal of net zero.
Lars Gunnar Vogt, Yinson Production’s Chief Technical Officer, commented, “Yinson Production is always looking for the latest technological ideas and breakthroughs in decarbonising offshore production. Our investment in Ionada’s advanced carbon capture technology is a significant step towards our commitment to lowering our carbon footprint. Their carbon capture solution, which has demonstrated the potential to reduce carbon emissions by more than 95%, is a key component of our Zero Emissions FPSO concept. This technology will also pave the way for new business opportunities and our participation in the carbon credit value chain. Our aim is to revolutionise carbon capture and sequestration within the energy sector, and this partnership with Ionada is a significant milestone in that journey.”
Ionada Chief Executive Officer Edoardo Panziera said, “Applying carbon capture to the production of hydrocarbons will play a key role in achieving meaningful carbon emission reductions and decarbonising energy. We are honoured to partner with Yinson Production and believe this key milestone will facilitate meaningful advances in our innovative technology.”
