Technip and Lanzatech in hunt for $200 mln US ethylene project funding (updated)

Lanzatech Global

25/03/2024 18:14

(Adds context in paragraph 2, quotes in paragraphs 3 and 5)
       March 25 (Reuters) - Technip Energies  TE.PA  and
LanzaTech  LNZA.O  have been picked by the U.S government as
potential recipients of up to $200 million in funding for a
project to produce sustainable ethylene from captured carbon
dioxide, they said on Monday. 
    The project to produce ethylene, which has a wide variety of
uses from plastics to the controlled ripening of fruit and
vegetables, is among many global initiatives seeking to make
commercial use of carbon capture technology.
    "This new joint technology will be developed in the U.S. for
integration directly into existing commercial ethylene crackers,
whereby it will capture CO2 emissions from the process and
convert them into sustainable ethylene," the two companies said
in a joint statement.
    The project, called SECURE, is expected to create 200
construction jobs and 40 permanent jobs, they said. 
    "If awarded, up to $200 million is expected to fund the
design, engineering, construction and equipment for a
commercial-scale integrated technology unit in the U.S.," the
companies added. 
        
    
 
  

 (Reporting by Olivier Sorgho
Editing by David Goodman)
 ((Olivier.Sorgho@thomsonreuters.com;))