Benzinga | Nov 1, 2021 09:33AM EDT

ENG Says Partners With Leading University On Development Of Carbon Capture Technology

ENG (NASDAQ:ENG), a leading provider of innovative, project delivery solutions for the energy industry, today announced it is partnering with a leading technology university to build a prototype CO2 sequestration reactor. When completed, the reactor will be capable of capturing the carbon dioxide (CO2) formed during power generation and other industrial processes and storing it so that it is not released into the atmosphere.

While the university will retain its intellectual property and other rights to the technology, ENG will apply its carbon capture and engineering expertise to the design and building of the reactor and has already begun the first phase of the project - the design drawings for the reactor.

"We are thrilled to be working on such an important assignment," said ENG chief executive Mark A. Hess. "Not only is the advance of carbon capture technology crucial to the battle against global climate change, but this project also allows ENG to apply its considerable expertise in this realm and potentially provide us with yet another source of near and long-term revenue growth."

Today's announcement follows the company's disclosure on October 26 that ENG had added on-site construction to its suite of client services.