Carbon Clean and Veolia team up to fund green projects in India through a joint venture

Carbon Clean, a leader in low-cost carbon dioxide capture and separation technology, announced today that it has joined forces with Veolia, the global leader for optimised resource management, to exclusively develop multiple green projects in India.

The newly established company Veolia Carbon Clean will first develop two carbon capture utilisation and storage (CCUS) and compressed biogas (CBG) projects in India, utilising Carbon Clean’s patented CDRMax and MethPure technologies.

CCUS and biofuels (including CBG) are both important components of India’s future green energy mix, as outlined in the Government’s 2018 Sustainable Alternative Towards Affordable Transportation (SATAT) scheme. SATAT aims to produce 15 million tonnes of CBG from 5,000 plants by 2023, along with generating 50 million tonnes of bio-manure. Through increased domestic production of biofuels, the scheme aims to help India to reduce imports, generate employment, and reduce pollution. This partnership between Veolia and Carbon Clean is an important step in the right direction.

Veolia Carbon Clean will finance, design, build and operate these projects, and will find opportunities for other projects in this country. Guillaume Dourdin, CEO Veolia India, said: “This partnership is a great opportunity to illustrate Veolia’s commitment towards combating climate change in India by deploying solutions to mitigate CO₂ emissions. Through Veolia Carbon Clean we look forward to creating resilient projects which will help companies to lower their carbon emissions in a sustainable manner and thus contribute towards reducing pollution levels in the country.”

Aniruddha Sharma, CEO of Carbon Clean, said: “We’re delighted that Veolia Carbon Clean is supporting the SATAT initiative to encourage compressed biogas for green transport fuel and we’re proud to be investing in manufacturing in India. I have always believed in ‘Make in India’ and it’s an initiative by the Government of India to be celebrated. Veolia’s ambition to become the world champion in ecological transformation, combined with our technological expertise, will allow us to fast-track multiple green projects in India.”

From today, the Board of Veolia Carbon Clean will consider proposals for setting up new green projects in India, including those involving CO₂ capture, that comply with Investment Criteria. Interested project developers can contact us via [email protected] or www.carbonclean.com/contact.

Source: Carbon Clean, press release, 2020-12-17.