[2022-08-29] Joint-venture between China and Spain invests in the CO₂ capture and storage project in Brazil

Source: Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)

Repsol Sinopec Brasil announced on the 23rd of August an investment of around R$60 million in a new research and development project for the capture and geological storage of atmospheric carbon. The Spanish company Repsol and the Chinese Sinopec hold a stake of 60% and 40% respectively.

Titled DAC.SI, the project will be the South American company’s first project of its kind to be implemented. For CO₂ storage, the company’s intention is to use basaltic rocks to fix carbon dioxide from the mineralization process.

The project’s first phase comprises the acquisition of the necessary equipment and the assessment of the potential for CO₂ mineralization in basaltic rock in the Paraná Basin. The company also intends to evaluate the use of renewable energies, such as solar photovoltaic, for the energy supply of the unit—thus avoiding new emissions during the process of removing CO₂ from the atmosphere.