Last Updated on: 21st November 2023, 08:25 pm
On October 24th, 2023, Pace CCS, in partnership with Hafnium Labs, announced a groundbreaking initiative to reshape the landscape of Carbon Capture, Transportation, and Storage (CCS) networks. The project, which has been granted an impressive €750,000 from EU, Innovation Fund Denmark and Innovate UK, is set to create the world’s first reliable digital twin software for full chain CCS networks.
The CCSTwin project is expected to revolutionise the way CCS networks are designed and operated by utilising Pace CCS’s experience of digital twins for CCS and Hafnium Labs’ knowledge of complex mixtures.
The software has the potential to optimise processes in the oil and gas industry, reducing costs, risks and improving operational efficiency. Moreover, CCSTwin will be able to integrate designs across the CCS network lifecycle to ensure safer designs and operations. This could lead to potential savings of €2 billion annually and a reduction of CO2 emissions by 150 million tons.
The collaboration between Hafnium Labs and Pace CCS began on April 1st, 2023 and will continue until March 31st, 2025.
Commenting on the project, Hafnium Labs CEO, Joe Smith stated: “As we tackle the pressing challenge of climate change, CCSTwin aims to be the linchpin that empowers industry leaders to take swift and decisive action. We are committed to providing engineers with the tools they need to build and operate CCS networks that are not only environmentally responsible but also economically viable.”
Pace CCS and Hafnium Labs have joined forces in an effort to create the world’s first reliable digital twin software for full chain CCS networks. With the generous support of EU, Innovation Fund Denmark and Innovate UK totalling €750,000, the CCSTwin project could revolutionise the way CCS networks are designed and operated, potentially saving €2 billion annually and reducing CO2 emissions by 150 million tons.
The collaboration between the two companies began on April 1st, 2023 and is set to continue until March 31st, 2025. Hafnium Labs CEO, Joe Smith, commented: “As we tackle the pressing challenge of climate change, CCSTwin aims to be the linchpin that empowers industry leaders to take swift and decisive action. We are committed to providing engineers with the tools they need to build and operate CCS networks that are not only environmentally responsible but also economically viable.”
