Samsung C&T CCUS Market Entry, Axens DMX Partnership, Targeting $35/ton Capture Cost, and a $196 B Global Market (2021 to 2026)

CCUS Commercial Scale, Samsung C&T and Axens Target $35/ton Projects

The strategic partnership between Samsung C&T and Axens marks a decisive shift in the carbon capture market, moving from a primary focus on technology development to an emphasis on large-scale, cost-effective project execution. This collaboration de-risks market entry for Samsung C&T by licensing a mature, low-cost technology, allowing the engineering giant to apply its core EPC competency to the rapidly expanding industrial decarbonization sector, bypassing years of internal R&D.

• Prior to 2025, the CCUS market was characterized by a race to validate numerous competing technologies at the pilot scale, with a strong focus on improving solvent chemistry and reducing energy penalties. The passage of the Inflation Reduction Act in 2022 created the economic foundation for commercial projects, but a gap remained between validated technology and bankable, large-scale deployment.
• The 2025 partnership between Samsung C&T and Axens to deploy the DMX™ process signifies a market maturation. The core challenge is no longer just technology invention but project execution. The strategy is to pair a technology with a capture cost estimated at a highly competitive $35-$40 per tonne of CO₂ with a Tier-1 EPC capable of delivering megaprojects on time and on budget.
• This “execution over exploration” model directly addresses the primary barriers to CCUS adoption: high capital costs and project delivery uncertainty. While technology risk is lowered, the focus shifts to managing supply chain, construction, and infrastructure risks, playing directly to Samsung C&T’s strengths.
• Recent market signals, such as the U.S. Department of Energy canceling $3.7 billion in previously awarded decarbonization grants in late 2025, underscore the value of this approach. Technologies with inherently lower operating costs are more resilient to policy shifts and subsidy volatility, making the Samsung C&T–Axens offering more attractive to industrial clients like Cemex who face funding uncertainty.

Infographic Visualizes Core CCUS Process Flow

This section introduces a partnership for large-scale carbon capture projects, and the chart provides a clear, high-level visualization of the CCUS process they will execute.

(Source: 气体圈子)

$196 B Investment Required, Samsung C&T and the Global CCUS Buildout

The financial viability of the CCUS market hinges on a combination of massive government incentives and the underlying cost-competitiveness of capture technology, a dynamic that underpins the Samsung C&T and Axens strategy. While public funding provides the initial market pull, recent volatility in direct grants places a premium on technologies with low operational expenditures that can be financed against more stable tax credits.

• The primary market driver is the U.S. Inflation Reduction Act’s enhanced Section 45 Q tax credit, which provides up to $85 per tonne for CO₂ permanently stored. This policy underwrites the project economics for a significant portion of the global project pipeline and makes low-cost technologies like DMX™ highly profitable.
• Governments globally are creating substantial funding pools to build out CCUS infrastructure. The UK government, for example, announced up to £20 billion to support the development of industrial CCUS clusters, aiming to capture 20-30 Mtpa of CO₂ by 2030.
• However, the CCUS investment landscape is not without risk. In late 2025, the U.S. Department of Energy reversed course on significant funding for large-scale pilots and demonstrations, creating uncertainty for projects dependent on direct grants.
• This policy headwind validates the Samsung C&T–Axens focus on a low operational cost. A capture cost of $35-$40/tonne provides a substantial margin against the $85/tonne 45 Q credit, making projects less dependent on additional layers of government grants and more attractive to private capital.

Table: Key CCUS Financial Incentives and Market Signals

Samsung C&T 1 Major Partnership, Axens DMX Technology Licensing (2025 to 2026)

The collaboration between Samsung C&T and Axens is a textbook example of a synergistic partnership designed to accelerate commercialization by combining complementary core competencies. This integrated offering of leading technology and elite project delivery aims to provide a turnkey, de-risked solution that can accelerate final investment decisions for industrial emitters.

• Samsung C&T provides the bankable EPC capability, including global procurement networks, modular construction expertise, project financing support, and a proven track record of delivering complex industrial facilities. This addresses the CAPEX and project delivery risk for clients.
• Axens provides the core intellectual property: the patented DMX™ process, which leverages a demixing solvent to lower the energy required for CO₂ stripping. This addresses the OPEX and technology performance risk.
• This model mirrors Axens’ broader strategy of partnering with strong regional players to conduct feasibility studies and deploy its technology, as seen in its September 2025 MOU with GPSC in Thailand to study the DMX™ technology.
• The partnership directly challenges incumbent technology licensors like Mitsubishi Heavy Industries and Fluor, who are often paired with other global EPCs. It also presents a different strategic path than the vertical integration model pursued by companies like Occidental through its acquisition of Carbon Engineering.

US vs Asia, Samsung C&T Global CCUS Deployment Strategy

While North America currently represents the most active market for CCUS projects due to powerful policy incentives, the global nature of the Samsung C&T–Axens partnership is designed to capture growth across multiple key regions. The strategy positions the partners to capitalize on immediate opportunities in the U.S. while simultaneously developing a project pipeline in Europe and Asia, where decarbonization mandates are also strengthening.

• North America is the primary near-term target, with the $85/ton 45 Q tax credit making it the most financially attractive region for CCUS deployment. The market is led by projects from oil and gas majors and industrial players.
• Europe is a key secondary market, driven by its Emissions Trading System (ETS) and dedicated funding mechanisms like the EU Innovation Fund and the UK’s £20 billion CCUS cluster program. These programs are fostering the development of large, integrated hubs for capture, transport, and storage.
• The Asia-Pacific region represents a major long-term growth opportunity. Samsung C&T’s South Korean base provides a strong foothold, while Axens’ partnership with GPSC in Thailand signals growing interest in Southeast Asia. Industrial powerhouses like Japan and Australia are also actively developing CCUS frameworks and projects, with companies like BHP exploring decarbonization pathways.

DMX Technology Maturity, Samsung C&T Moves from TRL 7 to TRL 9

The DMX™ technology is entering the market at a critical stage of maturity, having progressed beyond laboratory-scale research to successful pilot-scale validation, positioning it for full commercial-scale deployment. The partnership with Samsung C&T serves as the vehicle to bridge the final gap from a proven pilot (Technology Readiness Level 6-7) to the first series of commercial, revenue-generating assets (TRL 8-9).

• The core technological advantage of DMX™ is its energy efficiency. The regeneration energy requirement is estimated to be around 3.3 GJ per ton of CO₂, a significant reduction compared to the 4.0+ GJ/ton typical of conventional amine technologies. This directly lowers operational costs.
• This efficiency translates to a projected levelized cost of capture of $35.63 per ton of CO₂, according to one 2025 study. This positions DMX™ at the low end of the current $40-$120 per tonne range for post-combustion capture and aligns with next-generation cost targets.
• Prior to 2025, the technology was validated at the pilot scale (TRL 6-7), demonstrating its viability in a relevant industrial environment. The partnership with Samsung C&T is the essential step to build the first-of-a-kind (FOAK) commercial plants (TRL 8) and then replicate them globally (TRL 9).
• The primary technical risk moving forward is not in the chemistry but in the scale-up. Managing issues like solvent degradation, potential corrosion, and heat integration in a full-scale, megatonne-per-annum facility are the key engineering challenges that Samsung C&T is tasked with solving.

Table: SWOT Analysis for Samsung C&T and Axens CCUS Partnership

Samsung C&T Forward Outlook, 1 FID and 1 Offtake Agreement

The success of the Samsung C&T and Axens partnership over the next 18 to 24 months will be measured by its ability to convert strategic intent into commercial reality. Moving forward, the most critical indicators will be tangible project milestones that validate the technology’s bankability and the partnership’s ability to execute.

• If this happens: The partnership secures a Final Investment Decision (FID) on a large-scale project with a major industrial client.
  Watch this: Announcements of new Front-End Engineering and Design (FEED) studies converting to full EPC contracts.
  This could be happening: The market is validating the integrated technology-EPC offering as a de-risked, bankable solution, accelerating project approvals.
• If this happens: A project developer signs a long-term CO₂ offtake or storage agreement for a project utilizing the Samsung-Axens solution.
  Watch this: The signing of binding agreements similar to the 25-year sequestration deal between 1 Point Five and CF Industries.
  This could be happening: The technology’s cost and performance profile is being accepted by financiers and counterparties, confirming the project’s long-term economic viability.
• If this happens: The first commercial-scale DMX™ plant begins operations and releases independently verified performance data.
  Watch this: The release of data confirming a capture cost at or near the targeted $35-$40/tonne range and stable solvent performance.
  This could be happening: The technology’s competitive moat is being proven at scale, creating a strong pull from the market for subsequent projects and solidifying its position against competitors.

The questions your competitors are already asking

This report covers one angle of the CCUS market’s maturation toward large-scale project execution. The questions that matter most depend on your work.

• Which EPC companies are gaining or losing ground in the industrial CCUS market following Samsung C&T’s entry?
• What is the cost breakdown for an industrial CCUS project using Axens’ DMX™ technology to reach the $35/ton target?
• Which industrial sectors are the most likely early adopters for the Samsung C&T and Axens CCUS offering?

This report does not answer these. Enki Brief Pro does.

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