Exxon, FuelCell Expand Agreement on Carbon Capture
06 Novembre 2019 - 2:56PM
Dow Jones News
By Michael Dabaie
Exxon Mobil Corp. (XOM) and FuelCell Energy Inc. (FCEL) said
they expanded their agreement for carbon-capture technology.
The companies said they signed two-year expanded
joint-development agreement for carbonate fuel cell technology to
capture carbon dioxide from industrial facilities.
The agreement, worth up to $60 million, will focus on optimizing
the core technology, overall process integration and large-scale
deployment of carbon capture. Exxon said it is exploring options to
conduct a pilot test at one of its operating sites.
FuelCell Energy shares rose 43% premarket, to 38.2 cents.
Exxon and FuelCell began working together in 2016, focusing on
carbonate fuel cells.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 06, 2019 08:41 ET (13:41 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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