Chart deal gives Baker Hughes step up in carbon capture

Plus, EU trade shakedown in Scotland has unrealistic energy promise

In today’s edition:

— Chart Industries purchase by Baker Hughes further consolidates carbon capture industry

— After Trump shakedown of EU at Turnberry, all eyes turn to Stockholm for trade talks with China

— Ocean Cleanup will expand its plastic cleanup mission to big cities around the globe

— Satellite data shows Earth’s continents are drying out at unprecedented rate

— Nonprofits, academia join forces to save threatened climate and emissions data

Earthly Labs, a part of Chart Industries, makes small-scale carbon capture units often used in breweries and wineries. Photo: Earthly Labs.

Early analysis from the $13.6 billion acquisition of Chart Industries by Baker Hughes this morning focused a lot on the potential for liquid natural gas, nuclear, and data center growth.

One slightly overlooked area was carbon capture, which Baker Hughes BKR 0.00%↑ has been quietly consolidating in the past five years. Chart GTLS 0.00%↑, one of the top makers of carbon capture equipment in the U.S., is the third acquisition in carbon capture for Baker Hughes since 2020. Chart itself bought a carbon capture company to expand that business two years ago.

While the current administration has not made carbon capture a priority because of its potential to mitigate global warming by reducing harmful greenhouse gas emissions, the oil and gas business knows differently.

It sees profit in the business as the U.S — and indeed, the rest of the world — continues down the road to decarbonization. A surge in carbon capture startups in 2020 and 2021 has now led to the inevitable consolidation with big oil companies the buyers.

Another example of renewable and decarb companies attracting interest these days after a few years of depressed equity values.

Don’t forget to contact me directly if you have suggestions or ideas dcallaway@callawayclimateinsights.com.

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The Ailsa Course at Turnberry Golf Club, Turnberry, Scotland. Photo: Turnberry Golf Club.

Scottish shakedown at Turnberry