McDermott, CSIRO Team Up to Advance Carbon Capture Technologies

Letter of Intent to Evaluate Deployment of Low-cost Carbon Capture Solutions

News provided by

Jan 12, 2022, 07:00 ET

HOUSTON, Jan. 12, 2022 /PRNewswire/ -- McDermott International and the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia's premier national science organization, are evaluating technical and commercial opportunities for the deployment of CSIRO's carbon capture technologies for energy and heavy industry applications.

McDermott's expansive experience comes with four decades and over 200 successful carbon capture and carbon separation projects, applying technologies with low-carbon delivery potential and global deployment. A powerful collaboration has been established between these two organizations, highlighting McDermott's commitment to an integrated delivery approach to energy transition.

CSIRO has nearly a century of technology innovation, including its recent carbon capture technology for Direct Air Capture and post-combustion processes being developed in collaboration with Santos, Australia's largest domestic gas supplier.

"Carbon capture is fundamental to achieving a net-zero future while maintaining affordable, accessible energy and decarbonizing resources," said Samik Mukherjee, Executive Vice President and Chief Operating Officer. "We welcome the opportunity to work with CSIRO to advance scalable, flexible carbon capture solutions for industrial and energy applications."

"CSIRO has substantial experience in the development of low-emission technologies such as carbon dioxide capture," said Amir Aryana, CSIRO Group Leader. "By collaborating with the industry, we demonstrate the strength of applying key technologies at scale, while ensuring the lowest possible cost and highest performance."

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

About CSIRO
Over nearly a century, CSIRO has been improving the lives of people everywhere with its science. CSIRO has advanced Australia with a range of inventions and innovations that have had significant positive impact on the lives of people around the world, like fast WiFi, polymer banknotes, the CSIRO Total Wellbeing Diet and Aerogard. To learn more, visit www.csiro.au.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, statements about the expected benefits and opportunities associated with benefits and opportunities associated with the collaboration discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders and other creditors of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. This communication reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:
Global Media Relations
Reba Reid
Senior Director, Global Communications and Marketing
+1 281 588 5636
[email protected]

Acknowledgement: CarbonAssist^TM is a joint development between CSIRO & Santos.

SOURCE McDermott International, Ltd