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Other articles in the issue

• Shell Responds to Global Witness CCS report

  The Global Witness report conflates emissions data from two separate Shell carbon capture (CCS) projects – one of which is not yet built – and erroneously concludes that Quest is emitting more carbon than it captures. Some clarity below.

• Sylvera Raises $32M in Series A Round to Become Source of Truth in Carbon Markets

  Today, carbon offset ratings provider, Sylvera, announced it has raised $32.6M in Series A funding to accelerate its mission to become a source of truth for carbon markets. The round is co-led by Index Ventures - which also led the Seed round - and New York-based global private equity and venture capital firm Insight Partners, with participation from Salesforce Ventures, LocalGlobe and angel investors. This brings Sylvera's total funding to $39.5 million since being founded in 2020.

• Lithion Recycling Announces the Closing of a First Significant Tranche of up to $125 Million Series A Financing Led by IMM Investment Global and Supported by Fondaction

  Lithion Recycling Inc. (“Lithion” or the “Company”) is proud to announce it has reached financial close of a first tranche of Series A equity with a strategic group of investors led by IMM Investment Global Limited (“IMM Global”) and supported by Fondaction and its managed fund, the LCC Fund. The size of the first round is expected to reach up to C$125 million. IMM Global will join the Company’s Board of directors as a result of their significant investment.

• The U.S. Gulf of Mexico Offers a Unique Opportunity for American CCUS Leadership

  The National Ocean Industries Association (NOIA) today released the policy paper, Carbon Capture, Use, & Storage: An Economic, Employment, & Climate Opportunity for the U.S Offshore Region. Along with key policy recommendations, the document details the vast advantages that the deployment of carbon capture, use, and storage (CCUS) in the U.S. Gulf of Mexico can provide our nation as we work to meet ambitious emissions reduction targets to address climate change.

• BP unveils up to $3bn CCUS project in Indonesia, country's first

  "Oil and gas giant BP has announced a plan for Indonesia's first carbon capture, utilization and storage (CCUS) project, with an estimated cost of between $2 billion and $3 billion.

  It is part of larger development plans for the Tangguh gas block in eastern Indonesia operated by BP and partners including Japan's Mitsubishi and Inpex, as well as China's CNOOC. BP Indonesia President Nader Zaki and the chair of Indonesia's upstream regulator SKK Migas Dwi Soetjipto signed a memorandum of understanding on the Vorwata CCUS project on Monday."