Marubeni and J-POWER fund A$20 million in Glencore’s CTSCo Project in Queensland
8 June 2022
Marubeni Corporation (headquartered in Chiyoda-ku, Tokyo; Masumi Kakinoki, President) and Electric Power Development Co., Ltd. (headquartered in Chuo-ku, Tokyo; Toshifumi Watanabe, President) will each fund A$10 million in Glencore’s CTSCo Carbon Capture and Storage (CCS) Project in Queensland. Both Marubeni and J-POWER are long term joint venture partners in Glencore’s mining operations in Australia.
Glencore’s CTSCo Project aims to demonstrate carbon capture and storage technology. It focuses on capturing CO2 from the Millmerran coal-fired power station and permanently storing it deep underground in a dedicated storage site 100 kilometres from the power station.