RTTNews | Nov 3, 2020 08:28AM EST

08:28 Tuesday, November 3, 2020 (RTTNews.com) - Energy technology company Baker Hughes (BKR) said Tuesday it has agreed to acquire Compact Carbon Capture or 3C, a technology development company specializing in carbon capture solutions.

Financial terms of the deal were not disclosed. The deal includes all intellectual property, personnel and commercial agreements.

Norway-based Compact Carbon Capture was founded through the collaboration between Fjell Technology Group AS, Equinor ASA, Prototech AS and SINTEF. In 2018, 3C was fully established as a company and the IP as well as know-how from both the Equinor and the Fjell Technology Group management periods was fully transferred to 3C.

Baker Hughes noted that the acquisition of 3C underpins its strategic commitment to lead in the energy transition by providing decarbonization solutions for carbon-intensive industries, including oil and gas as well as broader industrial operations.

The advancement of carbon capture technology solutions is widely considered critical to delivering the additional CO2 emissions reduction required to meet global 2050 climate targets.

According to Baker Hughes, 3C's technology differs from traditional carbon capture solvent-based solutions by using rotating beds instead of static columns, effectively distributing solvents in a compact and modularized format. The rotating bed technology enhances the carbon capture process, resulting in up to 75 percent smaller footprint and lower capital expenditures.

In addition, 3C's modular and scalable configuration can be easily deployed into existing brownfield applications and also be optimized for a wide range of capacity and applications, including offshore and industrial emitters.

Baker Hughes noted that the acquisition of 3C will further complement its existing CCUS portfolio offering, which includes turbomachinery, solvent-based state of the art capture processes (CAP), well construction and management for CO2 storage, and advanced digital monitoring solutions.

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