CARBONCO
CARBONCO is a Seoul-based CCUS Total Solution Provider, spun out of DL E&C in 2022, delivering proprietary post-combustion carbon capture, utilization (including UNFCCC-certified carbon mineralization), and storage solutions to power generators, hydrogen/ammonia producers, and industrial emitters across Korea, Australia, Southeast Asia, the Middle East, and North America.
- Company typePrivate
- Founded2022
- HeadquartersSeoul, South Korea
- Headcount51–100
- GTM typeB2B
- OfferingServices
What CARBONCO does
CARBONCO is a Seoul-based environmental services company founded in August 2022 as a wholly-owned subsidiary of DL E&C (KRX: 375500), operating as a CCUS (Carbon Capture, Utilization, and Storage) Total Solution Provider. The company delivers end-to-end carbon management across three core pillars: Carbon Capture (proprietary post-combustion technology scaled from 2 ton/day pilots to 200 ton/day commercial plants and FEED-engineered for 3,000 TPD / 1 million ton-per-year facilities), Carbon Utilization (conversion of captured CO2 into liquid carbonic acid, calcium-carbonate construction materials via UNFCCC-approved carbon mineralization, and chemical/petrochemical feedstocks), and Carbon Storage (CO2 terminal design, subsea transport, and large-scale geological sequestration).
The technology stack rests on a standardized, modularized design architecture developed over 20+ years of project experience at DL E&C, with the Boryeong thermal power plant in South Korea serving as the commercial proof point (200 ton/day capacity, 15,000+ hours of continuous operation without unplanned outage, recognized as a world first for commercial-scale post-combustion capture stability). CARBONCO's carbon mineralization process is one of the few methodologies certified under UNFCCC's Clean Development Mechanism, enabling monetization of emission reductions in international carbon markets.
Commercially, CARBONCO monetizes through a mix of CCUS technology licensing (recurring royalties tied to project deployments), engineering/procurement/construction (FEED, basic design, and detailed engineering for CCUS facilities, typically structured as large multi-year engagements), carbon-reduction consulting (feasibility studies, profit models), and facility operation and maintenance (e.g., Jeju e-methanol project). Go-to-market is enterprise field sales targeting large power generators, hydrogen/ammonia manufacturers, and industrial emitters, executed through direct senior-level engagement combined with strategic channel partnerships with global tier-1 firms (GE Vernova, BP, ThyssenKrupp) and government/state-owned enterprise relationships (PLN, SWCC, South Australian Government). The company has active projects or engagements across South Korea, Australia, Indonesia, Saudi Arabia, Vietnam, Canada, Oman, Egypt, India, and the Philippines, with 51-100 employees based at its Seoul headquarters.
CARBONCO firmographics
Firmographics- Name
- CARBONCO
- Legal name
- CARBONCO
- Website
- https://carbonco.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- CARBONCO is a Seoul-based CCUS Total Solution Provider, spun out of DL E&C in 2022, delivering proprietary post-combustion carbon capture, utilization (including UNFCCC-certified carbon mineralization), and storage solutions to power generators, hydrogen/ammonia producers, and industrial emitters across Korea, Australia, Southeast Asia, the Middle East, and North America.
- Ownership category
- akta.pro rank
CARBONCO industry classification
Industry- Product category
- Carbon Capture, Utilization and Storage (CCUS) Services
- NAICS
- Industrial Gas Manufacturing (32512)
- SIC
- Water, Sewer, Pipeline, Comm & Power Line Construction (1623)
- akta.pro primary industry
- Carbon Removal Project Development, Financing & Offtake (Developers, Aggregators, Buyers Clubs) (EUABAFAL)
- akta.pro secondary industries
- Coal with Carbon Capture, Utilization & Storage (CCUS) (EUACAAAM), Carbon‑Based Carbon Materials (graphite, carbon black, CNTs, graphene from CO₂/CO) (EUABAIAG)
Keywords
Where CARBONCO is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
CARBONCO business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- CCUS Technology Licensing: CARBONCO licenses its proprietary carbon capture technology to project developers and industrial operators globally. Revenue is generated through licensing fees paid by clients such as Genesis Fertilizers (Canada) for use of post-combustion capture and compression/dehydration technology. This is a recurring high-value stream tied to specific project developments.
- Engineering, Procurement & Construction (EPC): CARBONCO provides FEED, basic design, detailed engineering, and EPC services for CCUS facilities. DL E&C has been awarded contracts such as C$35 million (~KRW 486.7 billion) for basic design work on the Genesis Fertilizers project. Projects span power plants, urea/ammonia facilities, and industrial emitters.
- Carbon Reduction Consulting: Consulting services including business feasibility studies, profit models, and carbon reduction strategy development for enterprises seeking to achieve carbon neutrality.
- CCUS Facility Operation & Maintenance: Operation and maintenance services for carbon capture facilities, including Jeju e-methanol production project involvement from design through O&M.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
CARBONCO product offering
Product offeringCore offering
CARBONCO provides Carbon Capture, Utilization, and Storage (CCUS) total solutions for power plants and industrial facilities. Its offerings span post-combustion carbon capture technology (pilot to commercial scale), conversion of captured CO2 into liquid carbonic acid and construction materials via carbon mineralization, and CO2 transport and subsea storage. The company also delivers FEED studies, EPC services, technology licensing, and carbon reduction consulting to enable clients to achieve carbon neutrality.
Product overview
CARBONCO operates as a CCUS (Carbon Capture, Utilization, and Storage) Total Solution Provider, offering an integrated suite of services across the entire carbon management value chain. The company provides three core service pillars: Carbon Capture (post-combustion capture technology ranging from pilot-scale 2 ton/day to commercial-scale 200 ton/day, with FEED capabilities for 3,000 TPD facilities), Carbon Utilization (converting captured CO2 into liquid carbon dioxide, calcium carbonate for construction materials, and chemical/petrochemical products), and Carbon Storage (CO2 terminal design, construction, operation, and subsea storage solutions). Supporting these core services are Carbon Mineralization Technology (UNFCCC-certified CDM methodology for converting carbon with industrial waste into building materials), CCUS Consulting Services (feasibility studies and business modeling), and Green Hydrogen & Ammonia Solutions (decarbonization support through hydrogen economy development).
Differentiator
Problem solved
Functional benefit
Products and services
- Carbon Capture Post-combustion carbon capture services for power plants and industrial facilities, ranging from 2 ton/day pilot to 200 ton/day commercial scale, with FEED capabilities for 3,000 TPD facilities.
- Carbon Utilization Conversion of captured CO2 into liquid carbon dioxide, calcium carbonate for construction materials, and chemical/petrochemical products for industrial buyers.
- Carbon Storage CO2 terminal design, construction, and operation, including large-scale CO2 transportation and subsea geological storage solutions for industrial emitters.
- Carbon Mineralization Technology Technology that reacts captured CO2 with coal ash from power plants or waste concrete to produce eco-friendly aggregates and construction materials, certified as Clean Development Mechanism (CDM) by UNFCCC.
- CCUS Consulting Services Business feasibility studies, profit modeling, and carbon reduction strategy consulting for enterprises seeking to achieve carbon neutrality, including standardized CCUS models with optimized scheduling.
- Green Hydrogen & Ammonia Solutions Solutions supporting the hydrogen economy including low-carbon hydrogen, green ammonia, and e-methanol production with integrated carbon capture infrastructure.
Quantifiable outcome
- 15,000+ hours of continuous commercial operation at Korea's first carbon capture plant (Boryeong)
- +5 more outcomes
Companies that use CARBONCO
Customer profileNamed customers11 records
Segments5 records
Ideal customer profiles4 records
CARBONCO technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
CARBONCO partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered core, strategic and minor.
- Genesis Fertilizers (Canada)coreCARBONCO signed a License Agreement with Genesis Fertilizers to provide post-combustion carbon capture and compression/dehydration technology for Canada's first low-carbon urea nitrogen fertilizer facility in Belle Plaine, Saskatchewan. The facility will capture ~800,000 tons/year CO2, eliminating 95% of emissions. DL E&C performs FEED. Ceremony hosted at the Embassy of Canada to Korea.
- CO2CRC (Australia)strategicCARBONCO signed MoU with CO2CRC, an Australian non-profit research organization, for joint development and commercialization of low-emission technologies. Agreement signed at ROK-AUS CCUS-Hydrogen Business Seminar in Sydney.
- GE Vernova (Gas Power)coreCARBONCO, GE Vernova, BP, PLN Nusantara, and Jawa 1 signed MoU to develop CCUS value chain for gas combined cycle plants in Indonesia. CARBONCO deploys CCUS technology, GE provides power plant integration, BP develops Tangguh storage hub (~1.8 GtCO2 capacity). Joint feasibility study covers capture, transport, and sequestration.
- BPcoreBP partners with CARBONCO and GE Vernova to develop Indonesia's CCUS value chain. BP is developing the Tangguh CO2 storage hub (1.8 GtCO2 capacity) as Indonesia's first CCS hub, planning 30+ million tons CO2 injection via Enhanced Gas Recovery (EGR).
- PLN Nusantara Power / Jawa 1 (Indonesia)strategicJoint MoU with CARBONCO, GE Vernova, and BP to develop CCS value chain for gas combined cycle plants in Indonesia. PLN subsidiaries provide the power generation facilities and local market access.
- ThyssenKrupp (Germany)coreCARBONCO joined Jeju Energy Corporation, Gaoncell, and ThyssenKrupp for Korea's first public-private P2X project to produce e-methanol on Jeju Island. ThyssenKrupp provides green hydrogen production facilities and e-methanol process technology licensing; CARBONCO captures and supplies CO2 as raw material.
- Jeju Energy Corporation (Korea)strategicCARBONCO joined with Jeju Energy Corporation, Gaoncell, and ThyssenKrupp for Jeju Island Green Methanol Production Project. Jeju Energy Corp supplies renewable energy (wind power) for green hydrogen production via electrolysis.
- Gaoncell (Korea)strategicCARBONCO partnered with Gaoncell (methanol fuel cell supplier) for Jeju Island e-methanol project. Gaoncell serves as future buyer of e-methanol for fuel cell applications and participates in overall business development and operation.
- Veolia KoreastrategicCARBONCO and Veolia Korea signed comprehensive collaboration agreement to integrate CCUS solutions into Veolia's domestic and international projects. Also signed feasibility study contract for introduction of carbon capture at Veolia's local plants. Veolia operates 50+ facilities in Korea.
- Environmental Corporation of Incheon / Carbon Mineral Flagship Project TeamminorDL E&C, CARBONCO, Environmental Corporation of Incheon, and Ministry of Science and ICT's Carbon Mineral Flagship Project Team signed MOU for 'Achieving 2050 Carbon Neutrality'. Cooperation on CCUS technology joint development, commercialization, and climate-friendly urban infrastructure through carbon mineralization.
- Vietnamese Government Enterprises / Hanoi University of Mining and GeologystrategicDL E&C and CARBONCO partnered with Vietnamese government entities including Hanoi University of Mining and Geology and state-owned enterprises with power plants and mines to promote carbon mineralization business. Follows January 2023 MOU between Vietnam Institute of Geosciences and Carbon Mineralization Flagship Project.
- SWCC (Saline Water Conversion Corporation, Saudi Arabia)strategicCARBONCO and SWCC (world's largest seawater desalination operator and Saudi Arabia's second largest power producer) signed MoU for CCUS technology adoption. SWCC's power plants will capture CO2 for use in seawater desalination post-treatment. Joint research on biological/chemical conversion, mineralization, and storage in Saudi Arabia.
- GE Gas PowercoreDL E&C and CARBONCO signed MoU with GE Gas Power to jointly explore roadmap for CCUS technology integration with natural gas combined cycle plants in Asia and Oceania. Three parties to conduct feasibility and FEED studies for CCUS-equipped gas power plants.
- South Australian GovernmentstrategicDL E&C and CARBONCO signed cooperation agreement with South Australian Government for green hydrogen economy development. Areas include hydrogen/derivative production, export strategy, research partnerships, and domestic hydrogen infrastructure. South Australia targets 100% renewable energy by 2030.
- KEPCO Korea Electric Power Research Institute (KEPRI)strategicDL E&C and CARBONCO signed MoU with KEPRI for mutual technology exchange and collaboration to enter overseas CCUS markets. KEPRI provides its proprietary KoSol carbon capture technology (selective CO2 absorption), evaluated as closest to commercialization in Korea.
- NeuRizer (Australia)coreDL E&C (and CARBONCO) signed priority contract agreement with NeuRizer for FEED of CCUS facility at NeuRizer's urea project in South Australia (Leigh Creek region). Capacity: 50,000 ton/year CO2 capture. NeuRizer engaged DL for FEED work, marking Australia's first CCS project at a urea plant.
- Drivetrain (Australia)minorDL E&C and CARBONCO signed MOU with Drivetrain (Siemens gas engine and gas turbine distributor in Australia) for CCUS sales activities collaboration in the Australian market.
- Korea Institute of Geoscience and Mineral Resources (KIGAM) / Carbon Mineralization Flagship CentercoreDL E&C and CARBONCO signed MOU with KIGAM's Carbon Mineralization Flagship Center to commercialize carbon mineralizing technologies globally. KIGAM's CDM-approved methodology and world-class carbon-reducing special cement technology underpin joint R&D and business model development.
Scale indicators11 records
Recent moves7 records
Expansion highlights5 records
CARBONCO competitors and assessment
Company assessmentMarket position
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
CARBONCO social profiles
Digital presenceCARBONCO financial estimates
Financial estimateRevenue estimate
Valuation estimate
CARBONCO leadership team
Management profileNumber of profiles
Profiles3 records
CARBONCO funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CARBONCO M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CARBONCO
What does CARBONCO do?
CARBONCO provides Carbon Capture, Utilization, and Storage (CCUS) total solutions for power plants and industrial facilities. Its offerings span post-combustion carbon capture technology (pilot to commercial scale), conversion of captured CO2 into liquid carbonic acid and construction materials via carbon mineralization, and CO2 transport and subsea storage. The company also delivers FEED studies, EPC services, technology licensing, and carbon reduction consulting to enable clients to achieve carbon neutrality.
Is CARBONCO a public or private company?
CARBONCO is a private company. It is classified as corporate owned and is currently operating.
When was CARBONCO founded?
CARBONCO was founded in 2022. It employs 51 to 100 people.
Where is CARBONCO based?
CARBONCO is headquartered in Seoul, South Korea, in the Asia region.
How does CARBONCO make money?
Four revenue lines are on record. CCUS Technology Licensing is the primary driver. The others are engineering, Procurement & Construction (EPC), carbon Reduction Consulting and CCUS Facility Operation & Maintenance.
Does CARBONCO have an API?
No public API is recorded for CARBONCO.
What industry is CARBONCO in?
CARBONCO's product category is Carbon Capture, Utilization and Storage (CCUS) Services. Its primary akta.pro industry code is EUABAFAL, Carbon Removal Project Development, Financing & Offtake (Developers, Aggregators, Buyers Clubs), with a secondary code of EUACAAAM, Coal with Carbon Capture, Utilization & Storage (CCUS). Its NAICS code is 32512 and its SIC code is 1623.