Frontier Carbon Solutions Announces the Sweetwater Carbon Storage Hub in Southwestern Wyoming

Receives $40 Million DOE Grant for Carbon Storage Hub Company Announces Appointment of Chief Development Officer

DALLAS and WHITE PLAINS, N.Y., June 14, 2023 /PRNewswire/ -- Frontier Carbon Solutions Holdings LLC ("Frontier" or the "Company"), a leading project developer in the carbon capture, utilization, and sequestration ("CCUS") sector and a portfolio company of Tailwater Capital LLC ("Tailwater"), today announced the Sweetwater Carbon Storage Hub ("SCS Hub"), one of North America's first open source, multipurpose carbon storage hubs. The SCS Hub spans over 45,000 acres in southwestern Wyoming and will provide a carbon management solution for industrial emitters across the Mountain West. Additionally, Frontier has submitted 3 Class VI UIC Permits with the Wyoming Department of Environmental Quality for CO2 injection. When fully developed, the SCS Hub is expected to store over 350 million metric tons of CO2 in geologic reservoirs.

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The University of Wyoming's School of Energy Resources (SER), with Frontier as a partner and collaborator, was recently awarded $40.5 million by the Department of Energy's CarbonSAFE initiative to further develop the Sweetwater Carbon Storage Hub. Frontier and SER will use grant proceeds to invest in the SCS Hub, including drilling Class VI injection wells and expanded reservoir characterization across the area. Alongside a recently announced upsized equity commitment from Tailwater Capital, Frontier will be well positioned to further build the SCS Hub into the preeminent carbon storage complex in the Rocky Mountain region.

"Frontier is honored to be awarded these funds from the CarbonSAFE initiative in partnership with the University of Wyoming," said Robby Rockey, President and Co-Chief Executive Officer of Frontier. "This partnership allows us to highlight Wyoming as a key leader in carbon storage and we will utilize this capital to accelerate the development of the SCS Hub."

Additionally, Frontier is pleased to announce the promotion of Alicia Summers to Chief Development Officer. Summers is a co-founder of Frontier and brings more than two decades of reservoir and principal investment experience to the platform. She has played a leading role in Frontier's subsurface development, site characterization, and Class VI permitting. In her new role, she will focus on strategic growth of the SCS Hub and additional sequestration sites across the Mountain West.

"Alicia is a clear leader in the CCUS industry," said Steven Lowenthal, Co-Chief Executive Officer at Frontier. "As we advance the SCS Hub and other largescale storage sites across the Mountain West, Alicia's expanded leadership role will further position Frontier as the premier carbon management provider in Rockies."

"We are very proud of the progress the Frontier Carbon team has made advancing this project and we are fully committed to developing this best-in-class carbon storage hub in Southwest Wyoming," said Stephen Lipscomb, Partner of Tailwater Capital.

About Frontier Carbon Solutions Holdings

Headquartered in Dallas, Texas and White Plains, New York, Frontier Carbon Solutions Holdings was founded in April 2021 to offer safe and permanent carbon storage services for industrial emitters across the Rocky Mountain region. Specializing in the development of carbon capture infrastructure and carbon markets, the Frontier team provides turnkey emissions solutions for its customers. For more information, please visit www.frontierccus.com.

About Tailwater Capital

Dallas-based Tailwater Capital is an energy and growth infrastructure private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater has raised more than $4.4 billion in committed capital since inception and the team has executed more than 100 transactions representing over $23 billion in value. For more information, please visit www.tailwatercapital.com.

SOURCE Tailwater Capital