MCi Carbon (“MCi”) announced today a three-way memorandum of understanding with cornerstone investor ITOCHU Corporation and the Japanese global construction firm Taisei Corporation. This collaboration builds upon the strong and established relationship between MCi and ITOCHU, leveraging the strengths of
the three companies to build a zero-carbon society.
MCi technology removes CO2 emissions from industry by transforming them into building materials and other valuable resources. ITOCHU and MCi signed a memorandum of understanding in May 2021, giving ITOCHU rights to identify and develop market applications for the carbon capture and utilisation (CCU) technology with Japanese groups.
“Together, Japan and Australia are building on a significant relationship between our societies and our economies. This collaboration with Taisei will bring our advanced technology to Japan as an early adopter to accelerate decarbonisation for the prosperity of the Japanese people, assisting them to reach their enshrined legislative targets.”
Marcus Dawe, MCi Carbon Founder and CEO
ITOCHU is investigating various applications of the technology and use cases for MCi’s output materials, called ‘carbonates’, acting as facilitator for the procurement of these new carbon embodied materials, the coordination of constructing decarbonisation plants and the commercialisation of MCi technology in Japan. These decarbonisation plants are expected to produce several hundred thousand tonnes of material in Japan by FY2027. The new partnership with TAISEI Corporation will assess and validate using carbonates in concrete and construction products.
“Creating new carbon embodied construction materials from CO2 emissions is a significant example of how technology can beadopted to achieve a zero emissions pathway for Japan and other countries. We are excited by our progress with industrial partners ITOCHU and Taisei and expect this will be a fruitful collaboration.”
Marcus Dawe, MCi Carbon Founder and CEO
MCi’s technology presents a safe and profitable means of storing CO2 permanently. The chemical process, called mineral carbonation, creates a range of low carbon embodied materials, including calcium and magnesium carbonate by carbonating minerals in by-products of industrial processes, like steelmaking slag, mine tailings and other industrial waste materials.
As part of the Australian Federal Government’s CCUS fund, MCi was awarded a $14.6 million grant last year to assist in the construction of a demonstration plant on Kooragang Island in Newcastle. MCi was also awarded #1 Global Cleantech Pitch at COP26 in Glasgow. Now after fifteen years of research and development MCi is now ready to commercialise and scale-up their decarbonisation plants globally.
