Trapping CO2 into Concrete to be Cheaper

TOKYO — Sixteen Japanese companies will support efforts to capture carbon dioxide emissions and turn them into fuel and industrial materials, seeking to mitigate damage to the environment caused by the continued use of fossil fuels, Nikkei has learned.

While governments and investors gradually shun fossil fuel energy in a shift to renewable sources, CO2-spewing coal-fired power plants remain an important part of the electricity supply in much of the world.

The companies — which include Mitsubishi Chemical, power plant operator J-Power, Mitsubishi Hitachi Power Systems and industrial groups IHI and Kawasaki Heavy Industries — will soon launch a fund named the Carbon Recycle Fund to support the development of CO2 recycling technology.

The fund’s initial capital of about 100 million yen ($945,000) will be enlarged by private-sector investment and bank loans.Research is underway on processes that use captured CO2 to produce synthetic fibers or fortify concrete.