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Carbon Capture in Louisiana and Carbon Removal in Wyoming

PLUS: $139 million Amogy raise, hydrogen in Texas, nature-based carbon removal

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Sunya Scoop
March 23, 2023

Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.

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CARBON CAPTURE

  • Milestone Carbon plans to evaluate ~46,000 acres for carbon capture and sequestration (CCS) in Louisiana's Terrebonne Parish.

  • The goal is to permanent store industrial CO2 emissions with the potential to sequester hundreds of millions of tons of carbon dioxide.

  • Milestone Carbon will evaluate the land's potential for multiple Class VI injection wells to support the decarbonization efforts of existing and planned industrial facilities in southeastern Louisiana.

  • Louisiana has strong policy support, great geology, and significant industrial emissions, making it an ideal location for CCS projects.

  • The announcement follows Milestone Carbon's recent involvement in the University of Utah's CarbonSAFE II: Storage Complex Feasibility project.

LOW CARBON FUELS

  • Amogy Inc. has secured a $139 million Series B-1 fundraising round led by SK Innovation, joined by other investors including Temasek, Korea Zinc, Aramco Ventures, AP Ventures, MOL PLUS, Yanmar Ventures, Zeon Ventures and DCVC.

  • The funding will go to organizational development, begin manufacturing its ammonia-to-power technology, and bring its first product to market in 2024.

  • Amogy's ammonia-to-power technology feeds liquid ammonia through its cracking modules integrated into a hybrid fuel cell system, which powers electric motors for zero-carbon transportation and shipping.

  • Amogy plans to present its ammonia-powered, zero-emission tugboat in late 2023 and its first commercial offering in 2024.

  • SK Innovation believes Amogy's technology will revolutionize the entire transportation industry and is committed to supporting Amogy in making zero-emission shipping a reality.

DIRECT AIR CAPTURE

  • GE has successfully demonstrated a scalable Direct Air Capture (DAC) system for CO2 removal.

  • The DAC system is part of a larger effort led by GE’s CAGE Lab in Niskayuna, NY, to deliver cutting-edge solutions in CO2 capture.

  • GE’s CAGE Lab involves a carbon capture team of 50+ scientists and engineers working with the US Department of Energy, ARPA-E, and other partners on projects to advance decarbonization solutions.

  • GE is planning for multiple larger scale demonstrations of the DAC system starting in 2024.

  • The DAC system employs a unique technical approach that brings together GE’s core competencies in heat exchangers, thermal management, and innovative materials.

  • GE’s progress with DAC is one of more than a dozen technologies that the company is highlighting at the 2023 ARPA-E Innovation Summit.

  • The team’s recent success in the lab follows a more than two-year effort to build a team internally and externally with the DOE, ARPA-E, and an expanding number of industry and academic partners.

  • GE’s DAC system uses sorbent materials for CO2 capture and a thermal management design that provides an optimal environment for the materials to remove CO2 from the air.

  • The DOE and ARPA-E have been supporting much of the DAC-related work underway, including the two-year, $2 million AIR2CO2 Contactor project.

CARBON MARKETS

  • CarbonCapture Inc. has announced an agreement with Microsoft to provide engineered carbon removal credits based on direct air capture (DAC) technology.

  • CarbonCapture designs and manufactures modular DAC systems that can be deployed in large arrays, and is developing Project Bison, a large DAC facility in Wyoming that will capture and store 5 million tons of atmospheric CO2 per year by 2030.

  • The facility is expected to be the first commercial-scale project in the United States to utilize Class VI injection wells to permanently store CO2 captured from ambient air using DAC technology.

  • Purchasing DAC carbon removal credits is an important part of Microsoft’s pursuit of permanent, durable carbon removal.

  • Corporations like Microsoft are playing a critical role in helping to scale DAC capacity by committing to advanced purchase agreements.

HYDROGEN

  • HydrogenPro is establishing a 500 MW manufacturing facility in Texas, representing a major milestone in establishing a global presence as part of the strategy to become the leading provider of large-scale green hydrogen technology and systems.

  • The brownfield investment includes a separate advanced electrode manufacturing facility and will increase HydrogenPro's manufacturing capacity to 800 MW in total.

  • The US market is HydrogenPro's top priority, and manufacturing capacity on this continent provides a fundamental platform to succeed with the announced growth ambitions.

  • The new site is planned to have an initial capacity of 500 MW with the option to scale up the capacity to several gigawatts in due time.

  • The US market has been served by HydrogenPro's European sales team, and the US organization will be ramped up in parallel with the manufacturing expansion.

  • The US has become the market leader on green hydrogen, and the favorable tax scheme for producers of green hydrogen has resulted in surging demand.

  • The move will make HydrogenPro the only viable large-scale player providing high-pressure alkaline electrolyser technology and systems.

CAPITAL RAISE

  • Andes, a climate tech startup, has raised an additional $15M bringing its Series A to $30M, for a total of $38 million raised from investors including Voyager VC, Yamaha Motor Ventures, Leaps by Bayer, Cavallo Ventures, KdT Ventures, Venturance, Germin8, and Accelr8.

  • Andes uses beneficial microorganisms to remove greenhouse gases from the atmosphere by capturing carbon dioxide and converting it into minerals in the ground, providing a safe, permanent, and scalable carbon removal solution.

  • The company has removed more than 50,000 tonnes of CO2 from the atmosphere and has partnered with farmers throughout the Midwest to deploy its technology across 25,000 acres.

  • Andes plans to expand its farmer partnerships, commercialize its carbon removal credits, and develop next-generation decarbonization technology with the new funding.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.