(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 6. Chevron New Energies(CNE), part of Chevron U.S.A. Inc., has announced a majorinvestment in ION Clean Energy (ION), a tech company in Boulder,Trend reports.
ION specializes in a technology called ICE-31, which capturescarbon emissions after burning fuels. CNE led a funding round thatraised $45 million for ION. This money will help ION grow and putits carbon capture tech, ICE-31, into wider use for reducinghard-to-capture emissions.
CNE plans to use ICE-31 to help customers with large but diluteCO2 emissions. This investment also allows CNE the chance tocollaborate with ION's customers on projects aimed at acceleratingthe technology's expansion.
"We have truly special solvent technology. It is capable of veryhigh capture efficiency with low energy use while simultaneouslybeing exceptionally resistant to degradation with virtuallyundetectable emissions. That's a pretty powerful combination thatsets us apart from the competition. This investment from Chevron isa huge testament to the hard work of our team and the potential ofour technology," said ION founder and Executive Chairman BuzBrown.
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