Blue Planet Systems Corporation has recently announced the completion of new funding and a strategic collaboration with Marathon Petroleum Corporation (NYSE: MPC) to accelerate the commercialization of its technology. The company’s patented Geomimetic® mineralization approach helps to sequester and store CO2 permanently in the built environment by using synthetic limestone aggregate in its CarbonStar® rated carbon-neutral and carbon-negative concrete and other building products. Blue Planet believes that its CO2 mineralization process is the most thermodynamically efficient, gigaton scalable, and quick-to-deploy carbon capture utilization and sequestration (CCUS) approach available currently.
The new funding and strategic collaboration will help Blue Planet to enhance production through process automation and to improve the technology readiness level of Blue Planet’s carbon mineralization facility on the San Francisco Bay, which has been operating for the last two years. Additionally, Blue Planet has secured additional funding support from current investor Signina Capital AG of Zurich, Switzerland, which provided project debt financing for the current plant.
Blue Planet’s patented technology and closed-loop processes are distinct from other carbon capture approaches. They mimic the low energy chemistry in nature responsible for the formation of limestone, which holds over 95% of all carbon on Earth and is the second most employed natural material, only after water. Blue Planet’s approach is increasingly recognized as a critical alternative to other CCUS approaches that involve capture, purification, compression, transportation, and monitoring of CO2 for injection into underground wells.
Brent Constantz, Blue Planet’s Founder, CEO and Chief Scientist, noted, “We are pleased to have the technical and commercial support of Marathon Petroleum at this critical phase of the scale up and commercialization of our low and negative embodied carbon building materials.”
