Tokyo Gas Co., Ltd. Pursues Carbon Removal With Agreement to Invest in and Collaborate With Global Thermostat

U.S.-based firm offers a uniquely efficient technology for the Direct Air Capture of carbon dioxide directly from the atmosphere, with applications for reaching net-zero goals.

BRIGHTON, Colo., Jan. 19, 2023 /PRNewswire/ -- Tokyo Gas Co., Ltd. will pursue its net-zero goals for decarbonization by investing in Global Thermostat and implementing the Denver-based firm's unique technology for Direct Air Capture of carbon dioxide, officials of Global Thermostat announced today. Tokyo Gas Co., Ltd., acting through its wholly owned subsidiary Acario Investment One, LLC of Menlo Park, California, becomes the first Japanese energy company to invest in Global Thermostat. Takashi Uchida is President of Tokyo Gas and Toshiharu Okui helms the subsidiary.

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"We are certain that Global Thermostat's technology will be essential to the transition to a decarbonized society," said Kentaro Kimoto, Senior Managing Executive Officer and Chief Executive of the Digital Innovation Division for Tokyo Gas. "Through this partnership, we will develop solutions to achieve the net-zero goal in our management vision, 'Compass 2030,' and contribute to the Japanese government's goal of realizing a 'carbon-neutral and decarbonized society by 2050.'"

Paul Nahi, CEO of Global Thermostat, stated, "Our partnership with Tokyo Gas is an important step toward our goal of delivering cost-effective Direct Air Capture on a worldwide scale. Along with cuts in carbon emissions, we believe Direct Air Capture must play a key role in returning carbon dioxide in the atmosphere to safe and sustainable levels, helping stabilize the climate as soon as possible. We're excited to partner with Tokyo Gas and help them fulfill their net-zero strategy."

Direct Air Capture of carbon dioxide from the atmosphere has drawn global attention as a promising way to remove greenhouse gases along with reducing emissions. Global Thermostat is currently scaling up its leading technology with support from the U.S. Department of Energy and others, and is developing deployments for sequestration, e-fuel production, and other applications. Global Thermostat's patented solid adsorption process has been rigorously refined and tested over the last ten years to address the primary technical challenges associated with DAC, namely the ability to efficiently process large volumes of air and provide the energy for regeneration in the most cost-effective manner possible.

Through this investment and collaboration, Tokyo Gas will deploy Global Thermostat's system in Japan for the first time, carrying out carbon capture tests, and advancing the practical deployment of the technology. It will also seek to develop future decarbonized energy businesses in Japan and abroad by using the captured carbon dioxide for processes such as methanation, carbon sequestration, and other applications.

About Global Thermostat, PBC

Global Thermostat's mission is to continually innovate and globally deploy the world's best direct air capture technologies. With our multi-patented portfolio of solutions for capturing and removing CO2 directly from the atmosphere, Global Thermostat is working to help restore Earth's climate by reducing carbon dioxide at a global scale for the benefit of all. Follow Global Thermostat on Twitter and LinkedIn.

About Tokyo Gas Co., Ltd.

Founded in 1885, Tokyo Gas Co., Ltd. is Japan's largest provider of city gas primarily in the Tokyo metropolitan area and surrounding Kanto region and, since the liberalization of Japan's electricity market, it has also been providing electricity in the same area. As part of its group's management vision "Compass2030," Tokyo Gas promotes the challenge of achieving "Net-Zero CO2," and will lead the transition to a decarbonized society.

About Acario Investment One, LLC

Founded in 2017, Acario is the Silicon Valley-based corporate venture capital and open innovation arm of Tokyo Gas. The name "Acario" comes from the word "Akari," which means "light" in Japanese, referring to the light from a gas lamp, which is the founding business of Tokyo Gas. Just as the city was lit in the era of civilization, it means that we will create new businesses and illuminate the next generation.Link to Tokyo Gas Co., Ltd. release

SOURCE Global Thermostat