Resource logo with tagline

Louisiana grants CO2 storage and sequestration rights

Louisiana has granted two companies the carbon storage and sequestration rights on approximately 21,000 acres of land in St. Charles and Jefferson parishes.

BKV Corporation NuQuest Energy have entered into a carbon sequestration agreement with the State of Louisiana to develop facilities and permanently sequester carbon dioxide from local emissions sources, according to a news release.

Louisiana granted the carbon storage and sequestration rights on approximately 21,000 acres of land in St. Charles and Jefferson Parishes to High West Sequestration, LLC. The acreage is thought of as an ideal location for targeted carbon dioxide capture and sequestration efforts, with an estimated 22 MM tons per year within a 15 mile radius from various emissions points.

The High West storage site has CO2 storage potential estimated between 140 MM to 1,000 MM metric tons of CO2e.  Under the agreement, High West Sequestration, a wholly owned subsidiary of BKV, will dispose of carbon through permanent sequestration via injection wells.

Unlock this article

The content you are trying to view is exclusive to our subscribers.
To unlock this article:

You might also like...

Visolis and Ginko Bioworks team up on synthetic rubber and SAF ingredient production

The two companies are leveraging each other to achieve commercial development of a monomer used in the production of synthetic rubber and SAF.

Visolis, a California-based sustainable materials company, has formed a partnership with cell programming and biosecurity firm Ginkgo Bioworks to reach commercial production of a key feedstock ingredient used to make bio-based isoprene and SAF, according to a news release.

Isoprene is a monomer used for commercial scale synthetic rubber production.

“Achieving the production of bio-based isoprene at scale represents a significant step toward decarbonizing tire manufacturing,” the release states. “Isoprene can also be used as an intermediate for high performance, lower carbon intensity sustainable aviation fuel (SAF) production.”

Achieving bio-based isoprene production at scale is difficult because the molecule is highly volatile and combustible.

“Visolis has developed a novel process by using a more stable intermediate, making isoprene through a two-step manufacturing process and enabling more efficient and reliable production,” the release states. “Through the partnership with Ginkgo, the two companies are working to further optimize the efficiency of this biomanufacturing process.”

Read More »

Lummus and Biohydrogen Technologies form blue H2 partnership

A cross continental partnership between UK and US entities is meant to develop and deploy blue hydrogen production technologies.

Lummus Technology and Biohydrogen Technologies have an agreement to develop synthesis gas reactor technology to produce blue hydrogen, according to a news release.

Lummus’ Green Circle business unit will provide Biohydrogen Technologies hydrogen and synthesis gas plant design, reactor scale-up and equipment supply.

“This technology is an economically attractive solution to address the large-scale production of blue hydrogen,” the release states.

The partnership is meant to allow bulk hydrogen production from natural gas.

Read More »

Direct air capture firm launches with venture backing

ZeoDAC, Inc. launches with an international group of investment partners that include: Wilson Hill Ventures, Caltech, Coca-Cola Europacific Partners, Freeflow Ventures and Global Brain.

Direct air capture firm ZeoDAC has launched with backing from venture capital and strategic investors, according to a news release.

The company is founded by industry veterans and technical pioneers Professor Christopher W. Jones, an international expert in direct air capture of carbon dioxide technologies from Georgia Tech, and Mark E. Davis, a chemical engineering Professor from Caltech, who has brought multiple academic innovations to commercial success, including zeolite-based processes.

ZeoDAC, Inc. launches with an international group of investment partners that include: Wilson Hill Ventures, Caltech, Coca-Cola Europacific Partners, Freeflow Ventures and Global Brain.

“ZeoDAC’s CO2 capture process leverages chemically and mechanically robust solid sorbents with established supply chains deployed in an energy efficient temperature-vacuum swing adsorption cycle, leading to a simple yet economically advantaged process,” said Christopher Jones.

By combining these innovations and expertise, ZeoDAC aims to provide a compelling economic advantage for large-scale, commercial carbon capture and use. The company has raised several million dollars from institutional venture capital and strategic investors led by Wilson Hill Ventures.

“ZeoDAC can deliver compelling Net Present Value (NPV) to industrial partners on an international scale, enabling a multibillion-dollar market with positive impacts for the climate,” said Ajay Kshatriya from Wilson Hill Ventures.

ZeoDAC not only captures carbon dioxide but also water, allowing for the production of several valuable end-products that can drive an economic return while delivering an environmental benefit.

“We are excited to embark on this journey with ZeoDAC. We believe that Direct Air Capture offers the potential for us to source sustainable ingredients and materials while reducing our environmental footprint. After extensively reviewing the market, we are confident that ZeoDAC’s novel approach provides the affordability, scalability, and energy efficiency needed to become a major player in the DAC industry,” said Nicola Tongue, Associate Director, Coca-Cola Europacific Partners.

Read More »
exclusive

Hydrogen liquefaction provider looking for growth equity

An emerging liquid hydrogen and liquefaction management company is seeking equity to support manufacturing expansion in Europe and the US.

Absolut Hydrogen, a French liquid hydrogen and liquefaction company based in Grenoble, is looking for equity to scale up production following operations of their demonstration project in France, CEO Jerome Lacapere said in an interview.

Absolut has a partnership with SAF firm ZeroAvia to develop refueling infrastructure for aircraft, and is primarily focused on serving the mobility sector.

A subsidiary of Groupe Absolut, the company offers a full LH2 product range with an entry small-scale hydrogen liquefaction system (< 50 kg/day), a 100 kg/day Turbo-Brayton based H2 liquefier and a 1T/day liquefier based on the same technology.The company's liquefaction demonstration plant in France should produce 100 kg per day, Lacapere said. After that Absolut will need new investment to scale production.Longer term the company has its sites on the US transport market, Lacapere said.“We need to grow in the United States,” Lacapere said. The company will need US-based advisory services and offices in the country to do that, he said.

Read More »
exclusive

CCS developer initiating discussions for corporate capital raise

Following its sale of a stake in a mega-scale carbon capture project in the Gulf Coast, Carbonvert is planning to initiate conversations to raise additional corporate capital, with plans to deploy as much as $500m into new projects.

Carbonvert, a Houston-based carbon capture and sequestration developer, is planning to start conversations soon with an eye to raise corporate capital that will allow it to advance mega-scale CCS projects, CEO Alex Tiller said in an interview.

Owned by a group of outside investors and the management team, Carbonvert is advancing a business model that takes advantage of the group’s expertise in early-stage project development, Tiller said.

The company recently completed the sale of its 25% interest in the Bayou Bend CCS project to Norway’s Equinor, which will now own the development alongside Chevron (50%) and Talos Energy (25%).

Bayou Bend CCS is the type of mega-scale project that Carbonvert will be pursuing in coming years, and for which the company will need to raise as much as $500m in corporate capital due to the capital-intensive nature of the projects, Tiller said.

Chevron last year bought its 50% operating stake in Bayou Bend for $50m, implying a $100m valuation for the project, which is positioned to become one of the largest CCS developments in the US for industrial emitters, with nearly 140,000 gross acres of pore space – 100,000 onshore and 40,000 offshore.

Carbonvert’s stake sale, announced yesterday, was “a positive result” for the company, Tiller said, though he declined to comment further on the valuation.

“It delivers capital to our balance sheet and allows us to grow our pipeline of projects and fund additional projects,” he said. Carbonvert used Jefferies as sell-side financial advisor in the sale to Equinor, he added.

Tiller, a veteran of the renewable energy industry, is a founding member of Carbonvert alongside Chief Development Officer Jan Sherman, who previously had a 30-year career with Shell and helped build the oil major’s Quest CCS project in Alberta, Canada.

For the upcoming capital raise, Carbonvert has not decided on whether to use a financial advisor; the structure of the capital raise will likely determine if an advisor is needed, Tiller said.

“We’ll definitely be out raising more corporate capital – these projects are tremendously expensive,” he said. “We’ll be starting conversations soon.”

The company has a line of sight to deploy as much as $500m of capital into its own projects over the next several years, he said, an indication of how much capital it will need to raise.

“These are large infrastructure projects that are going to take many years to bring to fruition, followed by decades of operations,” he said. “We live at the front end of the projects,” he added, “and when the appropriate parties are at the table, it’s really an act of humility to say ‘hey, maybe we’ve taken this as far as we can or should,’” a reference to finding the right time to sell the company’s stakes in the projects it is developing.

In addition to the Bayou Bend CCS project, Carbonvert is part of a consortium that’s developing a carbon hub in Wyoming. The company is also collaborating on an exploratory study for the direct air capture and storage of CO2 emissions from a nuclear power plant in Alabama.

“You can expect to see project announcements that look like Bayou Bend in the future,” Tiller said. “We like that type of mega-scale project, we like offshore, and we’re also pursuing some opportunities onshore that are less mature.”

Read More »
exclusive

Renewable hydrogen developer in exclusivity with strategic investor

A renewable hydrogen developer based in the western US is reaching the final stages of a capital raise with an investor in exclusivity.

NovoHydrogen, the Colorado-based renewable hydrogen developer, is in exclusivity with clean energy investment platform Modern Energy, according to two sources familiar with the matter.

ReSource reported in February that GreenFront Energy Partners was advising the company on a Series A.

NovoHydrogen CEO Matt McMonagle said previously that the company has about 30 projects in development in the US, ranging from a few megawatts to hundreds of megawatts. Its most active markets are the West coast, Northeast, Appalachia, Texas and the Rocky Mountains, though the company is not geographically constrained.

The company aims to begin construction on its first projects by the end of this year, the executive had said.

NovoHydrogen declined to comment. GreenFront and Modern Energy did not respond to requests for comment.

Modern Energy, a certified B-Corporation, recently put $90m into net metered solar developer Industrial Sun along with partner EIG. In 2020 EIG committed USD 100m to Modern Energy through a debt facility to fund the development of clean energy assets.

Read More »

Welcome Back

Get Started

Sign up for a free 15-day trial and get the latest clean fuels news in your inbox.