Chemical giant Dow Inc. (NYSE:DOW) has announced plans to expand and decarbonize its petrochemicals site at Fort Saskatchewan in Alberta.
The U.S.-based chemical company says it will build a net-zero carbon emissions ethylene and derivatives complex at its existing site. In a news release the company said the Alberta facility will be the first of its kind in the world.
Dow says the project would more than triple its ethylene and polyethylene capacity from the Fort Saskatchewan site. It will also retrofit the site's existing assets so that they are net-zero carbon emissions.
The new facility will convert cracker off-gas into hydrogen as a clean fuel for use in petrochemical production. Carbon dioxide will be captured onsite to be transported and stored by adjacent third-party infrastructure.
Dow has not disclosed a total investment figure for the project, which is dependent on obtaining board and regulatory approvals. Dow's existing Fort Saskatchewan site employs approximately 1,200 people.
The company says the new facility should be fully operational by 2030 following the retrofit and expansion.
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