Published by Todd Bush on February 28, 2023
Aqualung is excited to announce the investment and strategic carbon capture and sequestration partnership with Denbury.
Oslo, Norway (22 February 2023) – Aqualung Carbon Capture (“Aqualung”), a leader in membrane carbon dioxide (CO2) capture and separation technology, is excited to announce the strategic carbon capture and sequestration partnership with Denbury Inc (“Denbury” NYSE: DEN), the world’s largest CO2 pipeline operator. In conjunction with the partnership, Denbury will make an equity investment in Aqualung, expanding on our strong shareholder base.
>> In Other News: CapturePoint Announces Intent to Proceed With Central Louisiana Carbon Capture and Sequestration Infrastructure Investments
Aqualung’s CO2 capture technology has demonstrated the ability to significantly reduce the cost of capture utilizing our membrane technology and is being prioritized to industrial facilities across low and high levels of CO2 concentration. The targeted CO2 capture sources are initially sub 1 million metric tons per year of CO2 which represent ~90% of the stationary emitters.
The agreement with Denbury provides Aqualung with additional insight and access into the transportation and sequestration sector and for Denbury, insight into the cost of capture technology aspects. Based on the industrial sources, the two companies will work together to provide a complete solution for emitters starting from capture at emission source all the way to sequestration. Denbury’s equity investment will accelerate Aqualung’s US strategy with a target to begin sending commercial CO2 into Denbury’s pipeline during 2024.
Andrew Robbins, CEO of Aqualung, says “We are extremely proud and humbled to partner with Denbury. Aqualung’s low-cost capture solution alongside Denbury’s integrated pipeline and storage network will accelerate the decarbonization efforts of our customers across the US. To put the scale into perspective, there are over 14 million metric tons per year of CO2 within 1 mile and 240 million metric tons per year of CO2 within 30 miles from Denbury’s pipelines. We are equally excited to have Denbury as a strategic shareholder with tremendous experience transporting and sequestering CO2. We couldn’t ask for a better partner.”
Matt Dahan, Senior Vice President of CCUS Technology for Denbury stated “We believe Aqualung is on the leading edge of reducing the cost of CO2 capture across a diverse scale of emissions facilities, which collectively add up to a sizeable volume in our target areas. Our investment in Aqualung not only provides additional insight into the capture component of a CCUS project, but also will bring additional transport and sequestration opportunities to our company.”
For more information about Denbury please visit: https://www.denbury.com/
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🌍 HIF Global Signs Collaboration Agreement with Airbus for Sustainable Aviation Fuels 🔋 Exxonmobil Signs Carbon Capture Agreement With CF Industries in Mississippi 🚧 After Year...
I've been monitoring the climatetech and decarbonization startups this year, and here’s what I learned. International Energy Agency (IEA) expects global clean energy investment to hit $2 trillion ...
Inside this Issue 🌱 FuelPositive: Completes On-Farm Commissioning of the First Scalable Green Ammonia Production System and Announces New Manitoba-Based Partnerships 🌍 A New Era for Clean Energy: ...
Siemens Energy Wins Contract for Large-scale Hydrogen Project From German Utility EWE
[**Siemens Energy**](https://www.siemens-energy.com/) **has been awarded a contract to supply a 280-megawatt electrolysis system by German utility EWE. The plant in the German city of Emden is expe...
Shell to Build 100-megawatt Renewable Hydrogen Electrolyser in Germany
COLOGNE/WESSELING, GERMANY – [Shell Deutschland GmbH](https://www.shell.de) (**Shell**) has taken a Final Investment Decision (FID) to progress REFHYNE II, a 100-megawatt renewable proton-exchange ...
After Years of Controversy, Illinois State Pauses CO2 Pipeline Construction, for Now
**New safety requirements for carbon dioxide pipelines as well as a temporary ban on their construction are now in effect after Gov. JB Pritzker on Thursday signed a bill that passed the General As...
Exxonmobil Signs Carbon Capture Agreement With CF Industries in Mississippi
* We’ll remove up to 500,000 metric tons of CO2 annually from CF Industries’ site in Yazoo City. * It’s the latest sign of our leadership in CCS, a proven emissions solution. * ...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.