Wood has been awarded a prestigious multimillion dollar contract by the Oil and Gas Climate Initiative Climate Investments on March 26 to provide conceptual engineering for its gas power and industrial carbon capture conceptual design work.

Effective immediately, Wood will lead this first-of-a-kind project which aims to reduce CO2 emissions. The industrial carbon capture design will initially cover five of the principal industrial emitters of CO2: the production of hydrogen, fertilizer, petrochemicals, cement, and steel.

As part of the scope of work, Wood’s technology and consulting team will complete engineering and concept design work for a full-scale gas power plant with carbon capture, levering its global expertise in consulting, process technology, pipelines and capital projects.

 “Wood is delighted to be supporting OGCI Climate Investments on its gas power and industrial carbon capture conceptual design project,” Bob MacDonald, CEO of Wood’s specialist technical solutions business, said.

“We are working closely with our customers to lead the energy transition, a global challenge facing many industry sectors. Being at the forefront of this important, industry-led initiative further demonstrates our ongoing commitment to mitigating climate change by reducing CO2 emissions,” MacDonald added.

Climate Investments is a more than $1 billion fund investing in technologies and business models to lower the carbon footprint of the energy and industrial sectors and their value chains. The fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. They invest in innovative companies that are ready to be commercialized and collaborate with global co-investors and industrials to achieve speed and scale.

This latest award strengthens Wood’s position as a leader in all aspects of energy transition – generation, storage, transmission, delivery, consumption, and related environmental and social impacts.