Woodside invests in bioengineering company
Woodside has revealed a $9.9m equity investment in an India-based bio-engineering company, String Bio, the developer of a patented process that can recycle greenhouse gases (GHG) into products such as feed for livestock.
Woodside is exploring the potential of String Bio’s carbon-to-products technology to support its decarbonisation efforts, targeting abatement of methane emissions at its operational sites.
String Bio’s proprietary technology converts methane into a single-cell protein which could provide a sustainable alternative in animal and human nutrition as well as agriculture products, with a focus on improving the sustainability of crops and food production, land, and water use.
Woodside’s conditional investment is part of the company’s ambitious $5 billion target for investing in new energy products and lower-carbon services by 2030.
“Woodside believes String Bio’s technology could eventually be used to recycle methane at Woodside facilities.
“It could also be deployed at third-party sites with available bio methane such as landfill facilities and farms,” said Woodside CEO, Meg O’Neill.
Woodside is exploring the potential of String Bio’s carbon-to-products technology to support its decarbonisation efforts, targeting abatement of methane emissions at its operational sites.
String Bio’s proprietary technology converts methane into a single-cell protein which could provide a sustainable alternative in animal and human nutrition as well as agriculture products, with a focus on improving the sustainability of crops and food production, land, and water use.
Woodside’s conditional investment is part of the company’s ambitious $5 billion target for investing in new energy products and lower-carbon services by 2030.
“Woodside believes String Bio’s technology could eventually be used to recycle methane at Woodside facilities.
“It could also be deployed at third-party sites with available bio methane such as landfill facilities and farms,” said Woodside CEO, Meg O’Neill.
