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Exxon, Mosaic Materials ink deal to explore new carbon capture technology

Exxon Mobil Corp. and Mosaic Materials Inc. signed an agreement to explore the advancement of new technology that could remove carbon dioxide from sources of emissions, according to an Aug. 26 news release from the oil major.

Mosaic Materials developed research on a process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement also allows the two companies to evaluate opportunities for industrial uses of the technology at scale.

The deal is part of Exxon's goal to develop next-generation energy technologies that improve energy efficiency and slash greenhouse gas emissions.

In May, Exxon said it will invest up to $100 million over 10 years to research and develop advanced lower-emissions technologies with the U.S. Department of Energy's National Renewable Energy Laboratory and National Energy Technology Laboratory.