August 3, 2023
(press release)
–
The Group’s investment in Compact Membrane Systems (CMS) will help advance efforts to tackle climate change using carbon capture technologies. Solvay Ventures, the venture capital fund of Solvay, has invested in Compact Membrane Systems (CMS), a US company that creates membrane solutions that can reduce greenhouse gas emissions and help decarbonize heavy industries through the use of carbon capture technologies. The investment is part of Solvay’s ongoing efforts to invest in sustainable solutions and grow its offering and expertise in this area. CMS is a pioneer in membrane solutions for highly-demanding industrial applications, which help improve sustainability in a wide range of industries. This involves developing low-cost, low-energy and solvent-free separation and carbon capture technologies, which play a vital role in enabling the clean energy transition and achieving carbon neutrality, especially in hard-to-abate sectors, such as steel, cement, materials and chemicals. “Investing in sustainable solutions, as well as developing products that help protect climate is a priority for Solvay and we’re excited to support CMS’ efforts to enable the clean energy transition and ensure all industries can achieve carbon neutrality in the near future” said David Thomas, Vice President Research & Innovation at Solvay Speciality Polymers. “We work in partnership with the companies we invest in, acting as an innovation accelerator to create shared opportunities for sustainable growth.” “We already have a strong relationship with Solvay, which supplies us with materials for the development of our advanced membrane solutions,” said Erica Nemser, CEO of CMS. “The Group’s investment is a welcome next step in our relationship, which will allow both companies to advance efforts to provide sustainable solutions for industrial applications." As part of its development plan, CMS has successfully piloted its OptipermTM technology in an olefin paraffin separation application at a leading polyolefins company, and has signed multiple field deployments for CO2 capture demonstration in 2023 and onwards. Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 22,000 employees in 61 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €13.4 billion in 2022. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at www.solvay.com.Related media
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
