- US cleantech company Carbonxt (CG1) has secured a $2 million contract with chemical supplier, Univar Solutions
- Carbonxt will supply its activated carbon (AC) pellets to Univar who will then supply them to its customers in the LNG industry in order to reduce emissions
- CG1 chief executive Warren Murphy says the deal is a ‘significant development’ as there is growing demand for ways to meet sustainability and decarbonisation goals
- Shares of the company ended the day up 16% at 29 cents
US cleantech company Carbonxt (CG1) has secured a $2 million contract with chemicals 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.
AC Pads will be manufactured and supplied from CG1’s Minnesota facility as well as a proposed manufacturing facility in Kentucky once it is fully operational.
The patented AC pellets will be used to capture harmful pollutants resulting from the liquefaction/regasification process in the LNG sector.
Carbonxt chief executive Warren Murphy said entering the LNG sector is a “significant development” for the company as there is growing demand for solutions to meet sustainability and decarbonization goals.
“I expect our first deployment to act as a valuable benchmark for other industry participants and demonstrate the benefits of our AC pellet technology in removing harmful toxins from operations at LNG facilities,” did he declare.
CG1’s AC pellets offer a new solution to reduce emissions through the removal of hydrocarbons in the LNG sector. Therefore, the deployment of Carbonxt’s products should provide LNG facilities with another means to further decarbonize their operations.
The contract has an initial duration of one year, but can be extended.
Shares ended the day up 16% at 29 cents.