Fluor's Econamine FG PlusSM Carbon Capture Technology Selected To Reduce CO2 Emissions At Chevron Facility, Technology Expected To Reduce Emissions By Approximately 95%
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Fluor Corporation (NYSE:FLR) has entered into a license agreement with Chevron New Energies, a division of Chevron Corporation (NYSE:CVX), to implement Fluor's Econamine FG PlusSM carbon capture technology at Chevron's Eastridge Cogeneration facility in Kern County, California. This technology is expected to reduce the facility's CO2 emissions by approximately 95%. The license award was recognized by Fluor in the fourth quarter. Fluor will also provide a process design package, proprietary equipment, and technical support for the project.
February 06, 2024 | 9:40 pm
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POSITIVE IMPACT
Chevron Corporation is advancing its sustainability goals by licensing Fluor's Econamine FG PlusSM technology to drastically cut CO2 emissions at its Eastridge facility.
Chevron's commitment to reducing its carbon footprint through the implementation of Fluor's carbon capture technology could positively influence investor perception, potentially leading to a short-term uplift in Chevron's stock as the market reacts to its proactive environmental strategies.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fluor Corporation's carbon capture technology has been selected by Chevron to significantly reduce emissions at the Eastridge facility, marking a notable achievement in Fluor's portfolio.
The adoption of Fluor's technology by a major player like Chevron not only validates the technology's effectiveness but also sets a precedent for future collaborations and projects, potentially boosting Fluor's market position and stock value in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90