$1 Billion Fund to Curb Climate Change
World Economy

$1 Billion Fund to Curb Climate Change

A $1 billion fund created by top energy companies to curb climate change will back technologies being developed by US cement maker Solidia Technologies and engine maker Achates Power, Reuters reported on Friday.  The Oil and Gas Climate Initiative was set up last year and includes Saudi Aramco and Royal Dutch Shell .Solidia Technologies will receive funding for making cement with carbon dioxide instead of water, potentially lowering emissions by 70% and water use by 80%, the OGCI said. It will also help Achates Power, which develops vehicle engines that emit fewer greenhouse gas emissions, to roll out its technology worldwide. Specifics on the two investments were not announced. The OGCI also plans to help design a commercially viable gas power plant with carbon capture and storage that can qualify for government support and private investment.
Its participants also include BP, Total, Eni, Repsol, Statoil, CNPC, Pemex and Reliance Industries.
Together they have pledged to invest $1 billion over 10 years on technologies to curb climate change.

Short URL : https://goo.gl/SLjKfs
  1. https://goo.gl/oogzm8
  • https://goo.gl/YQnWCL
  • https://goo.gl/YY4RvQ
  • https://goo.gl/Pxmuh2
  • https://goo.gl/c8TUwg

You can also read ...

Taiwan Q3 Growth Highest in 2 Years
Taiwan’s economy grew 3.1% in the July-September period to a...
German Business Morale Soars to Record High
German business confidence hit a record high in November...
French Business Confidence at 10-Year High
French business confidence hit a near 10-year-high in November...
Swiss Factory Output Up
Switzerland’s industrial production and turnover increased...
Asia Markets Close Mixed, Europe Extends Rise
Asian markets closed mixed on Friday, following a quiet...
Venezuela Bad Debts Pile Up
Venezuela moved closer to a possible all-out default, with...
S&P Retains India’s Rating, Outlook
Close on the heels of Moody’s upgrading India’s sovereign...
 Italy Industrial Orders Decline
Italy’s industrial orders decreased in September, after...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.