iTWire - Dotz announces strategic acquisiion of carbon capture technology
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Tuesday, 30 May 2023 10:11
Dotz announces strategic acquisiion of carbon capture technology Featured
By Gordon Peters
Australian-listed, global technology company Dotz has entered into a binding asset purchase agreement with H2 Blue Tech Limited to acquire its Carbon Dioxide (C02)capture assets and technology.
Dotz (ASX: DTZ) says the patented and innovative technology utilises plastic waste to produce carbon-based polymeric sorbent with nanosized pores optimised to capture and store C02 and other industrial flue gasses - and has several benefits over existing technologies including scalability, energy efficiency, a low cost of ownership, and selective adsorption of C02.
The technology was developed at Rice University and fully characterised by SINTEF. It uses non-volatile, non-corrosive materials with low regeneration sorbent temperatures to address issues that made first generation amine-based capture technology non-viable at scale - and also has a lower environmental footprint, with the capability to utilise waste plastic and minimise energy consumption in its processes.
Commenting on the acquisition, Dotz CEO, Sharon Malka, said: “We are extremely pleased to synergistically add to our portfolio an innovative and promising carbon capture technology, which positively positions Dotz for growth.
“This ground-breaking technology provides Dotz with an ideal platform to enter the carbon capture market, with significant market opportunities into the next decade. While C02 capture is a new market for us, our track-record of developing, scaling, and commercialising innovative technologies ensures we have the demonstrated capability to deliver for our clients and shareholders. The carbon capture technology will complement and diversify Dotz’s existing technology portfolio and strengthen our market position.
“We are proud to lead an -listed company to the forefront of innovation in this sector, which is enabling a net zero future.”
According to Dotz the scale of opportunity in the carbon capture and green energy sector is significant, with the latest data showing we need to increase our annual carbon capture rate from approximately 400 mega tonnes to 6 giga tonnes, globally by 2050, representing a $600 billion opportunity - and creating an ideal environment for carbon capture technology companies to simultaneously pursue strategies of differentiation at low cost and to open up new markets and create new demand.
“This strategic Acquisition aligns with Dotz’s business growth strategy and will strengthen its offering to existing target markets, primarily the oil & gas and chemical industries. Furthermore, the acquisition ensures the Company is well-positioned to capitalise on the opportunity in the carbon capture and green technology sector to deliver long-term value enhancement for shareholders,” concludes Dotz.
Dotz says aompletion of the Acquisition is subject to customary closing conditions including shareholder approval and is anticipated to occur on third quarter 2023.
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