Carbonvert Sells Interest in Bayou Bend CCS Project to Equinor
Published by Todd Bush on September 4, 2023
HOUSTON--(BUSINESS WIRE)--Carbonvert Inc., is pleased to announce the sale of 100% of its ownership interest in the Bayou Bend carbon capture and sequestration project (“Bayou Bend”) in Southeast Texas to Equinor. This strategic decision underscores the mutual commitment of both entities to accelerate the transition to a low-carbon future.
>> In Company Spotlight: Equinor
Carbonvert is incredibly proud of its foundational role in the origination and early development of the Bayou Bend project. As the first Carbon Capture, Transport, and Storage (“CCS”) project to receive an offshore lease dedicated to CO2 sequestration in the U.S., Bayou Bend has been pivotal in inspiring a new era of CCS projects across the Gulf of Mexico region.
>> RELATED:
Equinor’s acquisition fuels the continued expansion of the CCS sector and enables Carbonvert to scale and develop its expansive CCS project pipeline.
Carbonvert CEO Alex Tiller said, “Partnering on projects to ensure their long-term success has been at the core of our business philosophy from the beginning. This divestiture will fund the continued growth of Carbonvert’s CCS portfolio in the U.S. while putting an amazing decarbonization asset in the hands of world-class organizations that are well positioned to operate the system for decades to come.”
Carbonvert believes that stakeholders in the Golden Triangle and Houston Ship Channel will benefit from Equinor’s participation in the Bayou Bend project, including their track record of maintaining the highest levels of integrity with the communities they serve.
>> In Company Spotlight: Carbonvert
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Companies
Latest issues
-
Still Standing: California’s Quiet Energy Ace
Inside This Issue ⚡ The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions 🌍 Carbon Business Council Expands European Footprint to Support the Continent’s Carbon Remov...
-
$170B Hydrogen Surge: Why 2025 Matters
Inside This Issue 💥 North America's $170B Hydrogen Surge: Why 2025 is the Tipping Point ⚙️ First Centrifugal on Board Carbon Capture System Launches 🌾 AgriCapture Rice Methane Reduction Project R...
-
Why Is Baker Hughes Betting $13.6B Now?
Inside This Issue 🏭 Baker Hughes to Acquire Chart Industries, Accelerating Energy & Industrial Technology Strategy ⛽ Next Hydrogen Launches Ontario’s Largest Onsite Clean Hydrogen Refuelling S...
Company Announcements
-
The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions
Hydrogen is a growing yet controversial source of energy that some see as key to California’s ambitious climate goals. A new project in Vernon will be one of the largest hydrogen production-and-d...
-
As carbon removal (CDR) progresses from start-up to scale-up phase, Europe has emerged as one of the most ambitious and fast-moving regions in the world Most recently, the EU announced it will inc...
-
RYAM and GranBio Sign MOU to Explore Cellulosic SAF Project at Jesup Facility
JACKSONVILLE, Fla. - Rayonier Advanced Materials Inc. (NYSE: RYAM) (the “Company” or “RYAM”), the global leader in cellulose specialty products, announced today the signing of a Memorandum of Under...
-
The following statement may be attributed to Jessie Stolark, executive director of the Carbon Capture Coalition (the Coalition), a non-partisan collaboration of companies, labor unions, and NGOs bu...