Exion Group Subsidiary Carbon Korea Selected as Preferred Negotiation Partner for Seoul Carbon Capture Project

Carbon Korea, a subsidiary of Exion Group (formerly ISE Commerce), announced on the 4th that it has been selected as the preferred negotiation candidate in the ‘Development of Carbon Capture, Utilization, and Storage (CCUS) Technology for Resource Recovery Facilities’ sector of the ‘2024 Climate Change Response Innovative Technology Demonstration Support Project’ commissioned by the Seoul Institute.

The Seoul Institute, an affiliated organization of the Seoul Metropolitan Government, serves as a think tank for Seoul city policies and is responsible for technology selection and public verification (demonstration) prior to the expansion of Seoul’s infrastructure facilities.

This project is a demonstration project to install carbon capture equipment at the Gangnam Resource Recovery Facility (Gangnam Incineration Plant), one of the four resource recovery facilities under Seoul city, to capture carbon (CO2) from combustion gases emitted through the chimney. It is a project to develop CCUS technology suitable for incineration plant combustion gases and to capture carbon among greenhouse gases to minimize atmospheric emissions.

Upon completion of the demonstration project, Carbon Korea will officially become the first domestic case to apply independently developed CCUS technology to capture carbon from a waste incineration plant.

It is expected that Carbon Korea will gain a favorable position in bids for carbon capture plants anticipated to be commissioned during the construction of new incineration plants by local governments nationwide. Seoul city is reportedly considering promoting the construction of carbon capture plants at newly built resource recovery facilities.

Carbon Korea passed the project proposal evaluation on the 27th of last month, and accordingly, after on-site inspections and negotiations on the demonstration proposal within this month, the designation of the project implementer and the signing of the implementation agreement will take place before October.

After the agreement is signed, Carbon Korea plans to modify the mobile carbon capture equipment (KarfreeV1) it manufactured to suit the capture conditions of the resource recovery facility and capture up to 1 ton (t) of carbon per day. The demonstration period is within one year from the date of the agreement.

An Exion Group official stated, “If the demonstration project is successfully completed, it will open the way to expand the installation of facilities at incineration plants in Seoul and other local governments nationwide, contributing to the government’s carbon neutrality policy,” adding, “We are focusing on expanding business related to social infrastructure.”