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KUALA LUMPUR, Malaysia — Malaysia’s national oil company Petronas announced Monday a collaboration with New Zealand-based LanzaTech to accelerate the development and commercialization of technologies to produce sustainable chemicals from carbon dioxide and natural gas.
The agreement blends Petronas'' deep experience and assets in the petroleum industry with LanzaTech''s gas fermentation technology to create an economical and sustainable source of high value chemicals, according to a press release.
LanzaTech''s proprietary fermentation process converts carbon monoxide in industrial waste gases, reformed natural gas and gas derived from any biomass source, into low carbon fuels and chemicals.
LanzaTech and Petronas will work together to extend this technology to include carbon dioxide containing gases from a variety of sources including refinery off gases and natural gas wells to produce acetic acid, a high value chemical with applications in the polymers and plastics markets.
"Petronas and LanzaTech have the ability to significantly impact the future of carbon capture by fundamentally changing the way we deal with waste CO2," said LanzaTech CEO Jennifer Holmgren. "Rather than trying to sequester carbon deep into the earth, we will ''bury'' it in a chemical. In this way, companies can not only comply with emissions reduction requirements, but also generate revenue along the way."