CarbonCo, a subsidiary of DL E&C specializing in CCUS (Carbon Capture, Utilization, and Storage) technology, has succeeded in developing a highly efficient carbon dioxide absorbent, enhancing its competitiveness in the global CCUS market.
On April 22, CarbonCo announced the development of a new absorbent capable of capturing carbon dioxide emitted from power plants and steel mills. A key achievement of this absorbent is its significantly reduced energy consumption compared to existing commercial products. It requires only 2.15 gigajoules (GJ) of energy to capture one ton of carbon dioxide, making it over 46% more efficient than widely used monoethanolamine (MEA) absorbents. It ranks alongside products from top companies like BASF, Shell, and Mitsubishi Heavy Industries.
CarbonCo verified the performance of this absorbent through a pilot process at the Alberta Carbon Conversion Technology Centre (ACCTC) with a capacity of 6 tons per day (6 TPD). Next month, they will install a pilot facility at the Pocheon Combined Heat and Power Plant in Gyeonggi Province for further testing.
Energy efficiency is crucial in carbon capture technology. Since the concentration of carbon dioxide in exhaust gases ranges from 4% to 25%, the absorbent must selectively and effectively separate CO₂ even at low concentrations while ensuring minimal energy consumption for economic viability.
CarbonCo completed the development of this absorbent in just three years—typically a process that takes over ten years—largely thanks to the addition of Dr. Shim Jae-koo, who has a background at the Korea Electric Power Research Institute. Dr. Shim is recognized as a leading expert in the CCUS field and was the key developer of the only commercially available absorbent in Korea, “KoSol,” which earned him the Dongtap Industrial Medal and the Engineer of the Year award in 2022.
In addition, CarbonCo is already participating in the CCUS pilot project at the Danginri Power Plant in Seoul and last year became the first Korean company to export its proprietary technology to Canada, marking its entry into the North American market.
The global CCUS market is experiencing rapid growth. According to market research firm Industrial Research, this market is projected to grow at an annual rate of 29%, reaching $25.3 billion (approximately 37 trillion won) by 2026. The Korean government has recently launched the "CCU Initiative," positioning CCUS as a core component of its future energy strategy.
On the policy front, positive trends continue. In the U.S., during former President Trump’s administration, tax credits for carbon capture were expanded from $20 per ton to $50 per ton. Analysts predict that the re-established Trump administration will likely continue investing in related technologies.
“This absorbent is a strategic technology that can effectively respond to the growing global demand for CCUS,” said Lee Sang-min, CEO of CarbonCo. "We plan to actively target global markets, including North America.
