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Borna, a Canadian company specializing in natural gas separation, processing, and carbon capture technologies, plans to invest $40 million in Egypt to establish a facility focused on recovering flared gas and implementing carbon capture solutions, according to a report by ZAWYA.

The announcement follows a meeting between Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), and representatives from Borna. The discussions centered on exploring opportunities to localize Borna鈥檚 advanced clean energy technologies in Egypt as part of the country鈥檚 strategy to reduce carbon emissions and transition toward sustainable energy sources.

During the meeting, Borna鈥檚 CEO, Sam Salimi, outlined the company's vision for its Egyptian venture. The proposed facility will capture flared gases from oil extraction and exploration operations鈥攇ases that would otherwise be wasted or emitted into the atmosphere. The plant will separate key components such as methane, propane, and butane, and reinject them into Egypt鈥檚 national natural gas grid to enhance domestic energy supply.

In addition to gas recovery, the facility will include carbon capture and storage systems. These technologies will allow Egyptian entities to participate in the voluntary carbon credit market launched by the Egyptian government in 2023. This market offers financial incentives to businesses that reduce emissions, helping align Egypt with global climate action efforts.

Salimi highlighted that the project is expected to deliver multiple benefits for Egypt, including decreased reliance on energy imports, reduced greenhouse gas emissions, and the creation of new employment opportunities in the clean energy sector. He also emphasized the strong support from the Canadian government and financial institutions for companies entering high-potential international markets like Egypt.

Heiba reaffirmed Egypt鈥檚 commitment to attracting green investments and underscored the advantages of the country鈥檚 private free zones system. These zones offer a range of incentives, including exemptions from customs duties and taxes, streamlined licensing procedures, access to competitively priced land, and low operational costs. Notably, companies operating under this system can set up facilities near oil and gas extraction sites, without being limited to designated public investment zones.

Heiba also noted that the clean energy technologies and equipment manufactured at the new Borna facility will help Egypt comply with global environmental standards, particularly the European Union鈥檚 Carbon Border Adjustment Mechanism (CBAM). Under CBAM, exporters to the EU must disclose the carbon content of their products, favoring goods made with low-emission technologies and offering a competitive advantage to producers using environmentally friendly methods.

The partnership with Borna highlights Egypt鈥檚 continued efforts to position itself as a regional leader in sustainable energy investment and innovation, reinforcing its dedication to meeting global climate commitments.