Glencore's CTSCo carbon capture and storage project in Queensland, Australia will capture carbon dioxide from the Millmerran coal power plant and store it underground.
Marubeni and J-POWER, which also operate joint venture projects with Glencore in Australia, will contribute A$10 million each towards the project, the companies said.
Carbon capture and storage has become a popular technology among major mining and energy firms, who are known to be heavy polluters, to invest in and offset their carbon footprints to meet net-zero targets.
($1 = 1.3848 Australian dollars)
(Reporting by Harshita Swaminathan; Editing by Shailesh Kuber)