10th Sep 2015 16:31
LONDON (Alliance News) - BHP Billiton PLC Thursday said it has partnered up with Canadian-based electricity provider SaskPower to accelerate the development of carbon capture and storage technology.
The FTSE 100-listed multi commodity company said it has signed a memorandum of understanding with SaskPower, whereby BHP will contribute to the establishment of a global knowledge centre to help promote research and reduce the cost and risk associated with new carbon capture and storage projects, it said.
SaskPower will also share its data from the Boundary Dam facility, which is the world's first full chain power sector carbon capture and storage project, said BHP.
"We know there is still much more to be done in CCS, but we are encouraged by the results we are seeing today, and the innovations we are working on for tomorrow. The Boundary Dam project offers lessons for all of us and we look forward to being part of it," said BHP Canada President Giles Hellyer.
BHP shares closed down 5.9% to 1,060.0 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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