Gulf Coast Sequestration is planning to build the first hub in the
United States to permanently store CO2 emissions. The target market is large industrial facilities that are increasingly seeking opportunities to reduce their lifecycle greenhouse gas emissions to preserve the economic competitiveness of the region. The first phase of the project plans to store 2.7 million metric tons of CO2 per year for the next 30 years. Phase II is expected to begin sequestering in 2026 and sequester an additional 1.3 million metric tons per year. Phase III is anticipated to begin sequestering in 2027 and is anticipated to sequester up to an additional 6 million metric tons per year. GCS has also signed an MoU with Climeworks to enable removal of one million tons of carbon dioxide from the air annually by 2030, with the capability to expand to multi-million ton capacity in future years.