The company will break ground this summer at Capitol Aggregates Cement in San Antonio, Texas, where the Capitol SkyMine carbon capture plant will be retrofitted.
The new funding includes equity investments from new investors Cenovus Energy, BlueCap Partners, Toyo-Thai Corporation Public Company Limited, and Energy Technology Ventures.
“The Capitol SkyMine plant will mark the first time that carbon-negative chemistry has reached the commercial stage,” said Joe Jones, founder and CEO of Skyonic. “Our unique, patented process means that emission problems can become emission profits. The carbon-negative products produced, which include sodium bicarbonate and hydrochloric acid, will displace the carbon-positive products currently sold. This is a crucial step towards a cleaner global manufacturing industry.”
The retrofit plant is expected to directly capture 83,000 tons of CO2 from Capitol Aggregates’ emissions annually. By using this captured CO2 to make products that would otherwise generate additional CO2, the plant will also offset an additional 220,000 tons, the company said.
Skyonic’s electrolytic SkyMine® technology will selectively capture CO2, acid gases and heavy metals from the flue gas and mineralize the captured pollutants into safe, stable, solid products. The plant is expected to make a profit from the sale of these products within three years.