In a significant move to reduce its carbon footprint and contribute to emissions reduction in challenging industries, Yinson Production, the offshore production arm of Malaysia's Yinson Holdings, has made a strategic investment in Ionada, a carbon capture technology firm. The investment underscores Yinson's commitment to lower greenhouse gas emissions from its offshore operations and positions Ionada's technology as a key tool in the decarbonization of FPSO (Floating Production, Storage, and Offloading) operations.

Ionada specializes in developing exhaust gas cleaning systems, with a focus on reducing emissions from the marine and power generation industries. Their proprietary technology involves post-combustion carbon capture, utilizing hollow fiber membrane contactors combined with proven amine absorbents. This modular carbon capture system is designed for small to mid-sized industrial emitters in sectors such as energy, marine, and e-fuels.

Lars Gunnar Vogt, Chief Technical Officer at Yinson Production, emphasized the strategic significance of the investment, stating, "Our investment in Ionada’s advanced carbon capture technology is a significant step towards our commitment to lowering our carbon footprint. Their carbon capture solution, which has demonstrated the potential to reduce carbon emissions by more than 95%, is a key component of our zero emissions FPSO concept."

Ionada's technology aligns with Yinson's vision of a zero-emissions FPSO concept and supports its climate strategy, providing a pathway for new business opportunities and participation in the carbon credit value chain. The carbon capture technology, based on current in-lab studies, exhibits the capability to reduce more than 95% of carbon emissions, marking a substantial advancement in the pursuit of sustainable and inclusive energy practices.

Edoardo Panziera, CEO of Ionada, expressed enthusiasm about the partnership, stating, "Applying carbon capture to the production of hydrocarbons will play a key role in achieving meaningful carbon emission reductions and decarbonizing energy. We are honored to partner with Yinson Production, and believe this key milestone will facilitate meaningful advances in our innovative technology."

Yinson Production's investment in Ionada comes as part of the company's broader efforts to revolutionize carbon capture and sequestration within the energy sector. Notably, Yinson recently announced plans to pilot an offshore carbon capture and storage (CCS) plant on the FPSO Agogo in Angola, in collaboration with Azule Energy. This initiative represents a pioneering effort to install a post-combustion carbon capture unit onboard an FPSO, further solidifying Yinson's commitment to sustainable energy practices.