Houston, TX (December 6, 2023)
Ionada, a pioneer in advanced carbon capture technology, is proud to announce a significant milestone with the successful completion of the first closing of their Series A investment round, including a strategic investment from Yinson Production, an offshore production business unit of Yinson Holdings Berhad (“Yinson”), a global energy infrastructure and technology company headquartered in Malaysia.
As part of Ionada’s Series A investment, Yinson Production joins as a strategic investor, recognizing Ionada’s groundbreaking technology and its potential impact on emissions reduction. Yinson Production is one of the largest independent floating production, storage and offloading (“FPSO”) leasing companies globally.
Ionada is confident that this strategic investment from Yinson Production will play a crucial role in advancing their mission to provide customers with a comprehensive wellhead-to-wellhead energy extraction and CO2 sequestration solution. This collaboration reinforces Ionada’s commitment to driving innovative emissions reduction strategies and positions the company as a key player in the rapidly evolving landscape of carbon capture technology.
The strategic investment is a testament to Yinson Production’s belief in Ionada’s transformative potential within the carbon capture and sequestration space. The technology has enormous potential to support the offshore oil and gas industry’s transition to low-carbon operations. Furthermore, the technology presents new business opportunities and facilitates Yinson Production to participate in the carbon credit value chain.
Edoardo Panziera, CEO of Ionada, expressed enthusiasm about the collaboration, stating, “Yinson Production’s strategic investment is a significant endorsement of Ionada’s technology and our commitment to revolutionizing carbon capture. We believe that combining Yinson’s global expertise with Ionada’s innovative solutions will accelerate developing and deploying advanced carbon capture technologies.”
Yinson Production Chief Technology Officer Lars Gunnar Vogt commented, “Yinson Production is always looking for the latest technological ideas and breakthroughs in decarbonizing offshore production. Our investment in Ionada’s advanced carbon capture technology is a significant step towards our commitment to lowering our carbon footprint. Their carbon capture solution, which has demonstrated the potential to reduce carbon emissions by more than 95%, is a key component of our Zero Emissions FPSO concept. This technology will also pave the way for new business opportunities and our participation in the carbon credit value chain. Our aim is to revolutionize carbon capture and sequestration within the energy sector, and this partnership with Ionada is a significant milestone in that journey.”
Yinson Production’s investment comes at a crucial juncture as Ionada’s technology demonstrates the capability to reduce carbon emissions by more than 95%, based on current in-lab studies. This breakthrough can potentially reshape carbon capture and sequestration practices within the energy sector, contributing significantly to global efforts to combat climate change.
Ionada welcomes Yinson Production as a strategic partner and looks forward to leveraging its expertise to drive further advancements in carbon capture technology. For Yinson Production, this investment aligns with their commitment to sustainable energy solutions.
Ionada encourages those interested in learning more about this strategic partnership and contributing to the advancement of emissions reduction solutions to contact:
Phone: +47 94 88 16 96
For media inquiries or further information, please contact:
Michael Owen Lombos
Phone: +1 888 561 7870 ext 600
Ionada is a global climate technology company committed to reducing greenhouse gas emissions and creating a sustainable future. The company develops innovative post-combustion carbon capture systems to capture CO2 emissions from various industrial processes in oil & gas, thermal power generation, waste-to-energy, hydrogen, steel, cement, and maritime industries.
The highly skilled team of scientists, engineers, and technicians at Ionada have developed breakthrough technology to reduce carbon emissions. They are dedicated to developing and manufacturing cutting-edge solutions that enable their clients to reduce their environmental impact while providing financial benefits.
Ionada is passionate about driving disruptive sustainability by delivering innovative solutions that help keep the air and water clean for future generations. The company aims to provide emission abatement technology that reduces emissions and delivers economic value to its clients.
For more information about Ionada’s sustainable solutions, visit ionada.com or e-mail firstname.lastname@example.org.
About Yinson Production
“Passionately delivering powerful solutions.”
Yinson Production is the offshore production business unit of Yinson Holdings Berhad (“Yinson”, or “the Group”), a global energy infrastructure and technology company headquartered in Malaysia. The Group is active in offshore production, renewable energy, green technologies and offshore marine, and has a presence in 18 countries.
Yinson was established in 1983 as a transport agency in Johor Bahru. After successfully entering the FPSO market through a joint venture to build two offshore production assets in Vietnam, Yinson transformed to become a full-scale execution and service FPSO provider in 2014 through the acquisition of Fred. Olsen Production ASA and subsequent divestment of its non-oil & gas business segments.
Today, Yinson Production is one of the largest independent floating production, storage and offloading (“FPSO”) leasing companies globally, with an order book of approximately USD22 billion until 2048. Yinson Production’s position as a top tier FPSO contractor is driven by its excellent project management team, industry-leading safety and uptime performance and leadership position in sustainable FPSO design.
Yinson Production’s Zero Emissions FPSO Concept is paving the way for the decarbonization of the FPSO industry and aligns with the Group’s Climate Goals to be carbon neutral by 2030 and net zero by 2050.
For more information about Yinson Production, please visit www.yinson.com/offshore-production.