FOR IMMEDIATE RELEASE
ALLEN, TEXAS, March 18, 2024 – CapturePoint LLC announced today that it has closed on a private Section 45Q direct transfer tax credit transaction for carbon dioxide (CO2) captured at the company’s Arkalon facility near Liberal, Kansas and utilized for Carbon Dioxide Enhanced Oil Recovery (CO2-EOR) operations in the panhandles of Oklahoma and Texas.
>> In Other News: EnergIIZE Hydrogen: Funding Your CA Hydrogen Station
The CapturePoint Arkalon CO2 capture facility has the capacity to capture 250,000 metric tons of CO2 annually from nearby bio-ethanol production. CapturePoint transports the captured CO2 through its 170-mile regional network of dedicated CO2 pipelines to over 75 active CO2 injection wells the company uses for CO2-EOR operations. Once CO2-EOR operations cease, the CO2 is ultimately securely stored permanently underground.
The new Arkalon CO2 capture facility was placed in service in April 2023, generating Section 45Q tax credits for capturing and utilizing industrially sourced CO2 emissions. The Tax Credit Transfer Agreement between CapturePoint and the buyer includes placement of 100% of the 45Q tax credits generated by the Arkalon facility for a total of 12 years. At closing, CapturePoint will transfer all 2023-generated 45Q tax credits to the buyer.
“CapturePoint is at the leading edge of carbon management innovation in the United States,” said CEO Tracy Evans, “and our Arkalon CO2 capture facility and Panhandle CO2-EOR operations are helping the nation achieve important environmental and energy security goals. Our team is also developing expansive deep underground carbon storage sites – like our CPS Central Louisiana Regional Carbon Storage Hub -- to permanently and safely sequester much larger volumes of CO2 currently released into the atmosphere by industrial emitters.”
The Section 45Q transaction announced today was placed privately by Marathon Capital. “We were honored to support CapturePoint on one of the industry’s first Section 45Q tax credit transfer transactions for their Arkalon CO2 capture facility,” said Matthew Shanahan, Managing Director at Marathon Capital. “We wish the CapturePoint team continued success as a leader in carbon management services.”
With both the Arkalon CO2 capture facility Section 45Q placement and an earlier transaction announced in January 2023 for CO2 captured at a nitrogen fertilizer facility in Coffeyville, Kansas, CapturePoint now has nearly one million metric tons per year of industrially sourced CO2 being utilized in CO2-EOR operations and generating 45Q tax credits.
CapturePoint LLC and its affiliate CapturePoint Solutions LLC offer a wide array of carbon management services and are pioneering the U.S. development of leading-edge carbon solutions including deep underground geologic carbon storage sites. The companies are privately held, with significant financial backing from prominent investors in clean energy innovation including an affiliate of Mercuria Energy (“Mercuria”), one of the world’s largest independent energy and commodity groups.
---
CapturePoint LLC and CapturePoint Solutions LLC, together “CapturePoint,” are privately held companies with offices in Allen, Texas. Our business is carbon management in an era of energy transition, and we are focused on leading-edge carbon management services and clean energy development including tertiary oil recovery using CO2-EOR operations. For more information, visit the CapturePoint website at www.capturepointllc.com.
Established in 2004, Mercuria is one of the world’s largest independent energy and commodity groups, revolutionizing the commodity value chain through technology, expertise, and low carbon solutions. The company has firmly positioned itself as a leader in the energy transition, with over 50 percent of its new investments directed towards renewables and transitional energy. Mercuria has made substantial contributions to projects such as renewable power, carbon capture, energy storage, grid optimization, critical transition minerals recycling and environmental products, showcasing its dedication to a sustainable future. For more information, visit www.mercuria.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🤝 New Joint Venture Announced by GLJ and Energy Fuse to Lead U.S. Carbon Sequestration and Enhanced Oil Recovery Projects 🔋 Carbon Capture COF Shows Impressive Ability to Survive...
Inside This Issue 🌪️ Carbon Clean Announces Fully Columnless Carbon Capture, With Launch of CycloneCC C1 Series ⚛️ How US States Can Lead on Carbon Removal Policy 🤝 Lummus and Advanced Ionics Esta...
Inside This Issue 💧 Lummus and Advanced Ionics Establish Partnership for Green Hydrogen 🌫️ Capturing Carbon From the Air Just Got Easier 🏗️ Linde to Provide Carbon Capture Technology for Offshore ...
CALGARY, Alberta & HOUSTON--(BUSINESS WIRE)--GLJ Ltd. (“GLJ”) and Energy Fuse Group LLC (“Energy Fuse”) are pleased to announce the formation of a joint venture aimed at project implementation ...
BayoTech Names New CEO Diaco Aviki to Propel Company's Hydrogen Hub Growth Strategy
HOUSTON, Nov. 6, 2024 /PRNewswire/ -- BayoTech, a global leader in hydrogen production and distribution solutions, proudly announces the appointment of Diaco Aviki as President and Chief Executive ...
Carbon Capture COF Shows Impressive Ability to Survive Hundreds of Cycles
Researchers at the University of California, Berkeley, have synthesized a new material, COF-999, that can capture carbon dioxide from air and remains both chemically and thermally stable even after...
Empire Diversified Energy and Battelle Partner to Launch Hydrogen Hub in Appalachia
Empire Diversified Energy has taken a crucial step forward in renewable hydrogen production with its recent agreement to join the Appalachian Regional Clean Hydrogen Hub (ARCH2) as a sub-recipient....
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.