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3/4, 3:37 PM (Source: TeleTrader)
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Schlumberger, Microsoft, Chevron team up on bioenergy

Schlumberger's New Energy unit, Microsoft Corp., Chevron Corporation and Clean Energy Systems Inc. announced on Thursday they will work together on developing a carbon-negative power plant.

The project will be based on the carbon capture and sequestration process. The plant will convert agricultural waste biomass into gas which will be mixed with oxygen in a combustor to generate electricity, while more than 99% of the carbon from the process will be injecting underground.

"We are excited to welcome Chevron and Microsoft on this exciting opportunity, as it further demonstrates how we play an enabling role to deploy carbon capture and sequestration solutions at scale," Schlumberger executive VP Ashok Belani said.

Breaking the News / MD