Australia's BHP invests $7.9 mln in Carbon Engineering
Australian mining company BHP has invested $7.9 million (US$6 million) in Carbon Engineering Ltd (CE), a Squamish, British Columbia-based emissions reduction company. The investment comes two months after CE secured undisclosed financing from Occidental Petroleum Corp and Chevron Corp. The company told Reuters it expects to raise US$60 million by the end of Q1 2019. CE makes technologies that remove carbon dioxide from the air and convert it into clean transportation fuels. It emerged in 2009 from research conducted at the University of Calgary and Carnegie Mellon University. Led by CEO Steve Oldham, CE will use the funds raised for its global commercialization strategy.
5 March 2019•4 mins read
