Humble Midstream to Facilitate Enbridge–Yara Joint Development Project by Exiting Ingleside Low-Carbon Ammonia Project

DENVER--(BUSINESS WIRE)--Apr 5, 2023--Humble Midstream, LLC ('Humble'), an EnCap Flatrock Midstream portfolio company, is pleased to announce that they have reached an agreement to exit their joint venture with Enbridge Inc. ('Enbridge') for an undisclosed amount. Over the past year, Enbridge and Humble have jointly progressed both engineering and capacity marketing for a low carbon ammonia production and export facility at the Enbridge Ingleside Energy Center ('EIEC') located near Corpus Christi, Texas. That work has culminated subsequent interest from Yara Clean Ammonia, a Yara International ASA group company ('Yara'), to engage directly with Enbridge in an agreement to further jointly develop the project. The addition of Yara to the project greatly enhances the long-term prospects for the venture.

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The utility scale production facility will be capable of supplying ultra-low-carbon ammonia to meet both growing global and domestic demand. Up to 95 percent of the carbon dioxide (“CO2”) generated from the production process will be sequestered in newly developed carbon capture infrastructure.

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"Humble is pleased to have been able to work with Enbridge to bring this opportunity to fruition," said Humble Midstream CEO Steven Huckaby. "The combination of both Enbridge and Yara’s respective expertise is a natural evolution for the continuation of this unique project. I’m proud of the work Humble Midstream completed to get this project off the ground and am glad to see it’s successful progression to the next stage of development. We wish Enbridge and Yara every success going forward."

About Humble Midstream LLC

Headquartered in Denver, Humble Midstream is focused on solutions to transform energy markets by delivering sustainable and scalable low carbon solutions to accelerate the net-zero future. Leveraging decades of midstream energy experience, the Humble team is positioned to lead in the development and operation of clean hydrogen, clean ammonia, and carbon capture, utilization, and sequestration (CCUS) projects. Humble is backed by an equity commitment from EnCap Flatrock Midstream. Please visit www.humblemidstream.com for more information on the company and its management team.

About EnCap Flatrock Midstream

EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of over $9 billion from a broad group of prestigious institutional investors. For more information, please visit www.efmidstream.com.