SK, Lotte sign MoU to further bolster carbon capture potential

[Courtesy of SK innovation]

SK innovation Co., SK ie technology (SKIET) Co., and Lotte Chemical Corp. bolstered their cooperation in carbon capture by signing a memorandum of understanding (MoU) on joint technological research and development on Monday.

Under the partnership, the three entities will invest in improving carbon capture processing by tapping their respective core technologies and expertise while also developing the optimal technique for high-performance separators. The companies will also look to explore a market suitable for them to use their inventions while making joint investments into potential carbon capture technologies.

SK innovation and SKIET have ventured into carbon capture, utilization, and storage (CCUS), a suite of technologies deemed essential for carbon reduction. They have also ramped up their market presence in the sector by promoting their separator technology, which is used to produce lithium-ion batteries.

In May, the two companies made a joint investment in Airlane, a separation membrane specialist, to jointly advance technologies and expand opportunities in the separator capture market.

Lotte Chemical added demonstration equipment to its carbon capture facility in Yeosu, South Jeolla Province, in 2021 as part of its effort to continue research.