Cosmo Energy Holdings Co., Ltd. (Representative Director, Group CEO: Shigeru Yamada) and Toshiba Energy Systems & Solutions Corporation (President and CEO: Tadasu Yotsuyanagi, hereafter “Toshiba ESS”) today concluded a basic agreement concerning a joint study toward the realization of carbon capture and utilization (CCU) that converts CO2 into a valuable resource by utilizing CO2 electrolysis.
In this joint study, Toshiba ESS will provide a CO2 electrolysis technology that electrolyzes CO2 to produce carbon monoxide (CO) at a high conversion rate. CO is attracting attention as a useful substance for the realization of CCU as it can serve as a raw material for alcohols such as methanol and ethanol, which are key substances that can be used in chemical products and energy applications, as well as synthetic fuels and the like, by making it react with hydrogen.
The Cosmo Energy Group aims to utilize Toshiba ESS’s CO2 electrolysis technology to produce a valuable derived from CO2 emitted from its refineries and other facilities. In terms of the electricity used in electrolysis of CO2 generated from refineries as so on, the Group will consider using electricity derived from renewable energy supplied by one of its own group companies.
Through this joint study, both Cosmo Energy Holdings and Toshiba ESS aim to realize CCU utilizing CO2 electrolysis technology at refineries and other facilities operated by the Cosmo Energy Group. In addition, the two companies will also consider using oxygen produced as a byproduct of CO2 electrolysis to contribute to energy conservation and reduction of CO2 emissions at refineries.