THE LARGEST US CARBON CAPTURE AND SEQUESTRATION PROJECT TO BE DEVELOPED BY WABASH VALLEY RESOURCES WITH FUNDING SUPPORT FROM OGCI CLIMATE INVESTMENTS
- The project is expected to be the largest carbon sequestration project in the United States to date, and will create the world's first ammonia produced with near zero carbon footprint
- The project will capture and sequester 1.5-1.75 million tons of CO2 annually from Wabash Valley Resources co-located ammonia plant
- Ethanol produced from corn using WVR's ammonia will benefit from a significantly lower carbon intensity rating, making US ethanol and corn more valuable in International and California markets
- The project will capture and sequester 1.5-1.75 million tons of CO2 annually from Wabash Valley Resources co-located ammonia plant
- Ethanol produced from corn using WVR's ammonia will benefit from a significantly lower carbon intensity rating, making US ethanol and corn more valuable in International and California markets
May 20th,2019
Wabash Valley Resources (WVR), an affiliate of Phibro LLC, announces the closing of an investment from OGCI Climate Investments (OGCI CI) to develop a 1.5-1.75 million tons per annum, carbon capture and sequestration (CCS) project, located outside of West Terre Haute, Indiana.
The project will capture and sequester close to 100% of the plant's CO2 approximately 7000 ft below the surface into the saline sandstone aquifer known as the Mount Simon Sandstone, and will have the capacity to be expanded to 1.75 million tons of CO2 per annum.
Fertilizer plants are a major source of green-house gas emissions, representing approximately 2% of CO2 emissions globally. WVR's carbon capture and sequestration project will facilitate the production of fertilizer, from the co-located WVR plant, with a very low carbon footprint. Low carbon ammonia production lowers the carbon intensity of ethanol produced in the United States, making it economically more competitive in California and Europe.
Simon Greenshields, President and Chief Executive Officer of Phibro LLC, commented on the transaction, "This innovative carbon capture and sequestration project will facilitate the production of green ammonia. Farmers and industrial end users alike will, for the first time, be presented with an opportunity to purchase ammonia produced in an environmentally conscious and sustainable manner and at an affordable price."
Pratima Rangarajan, CEO of OGCI Climate Investments, commented: "CCUS will be a crucial part of the low carbon economy. Our investment in Wabash Valley Resources is a tangible demonstration of our commitment to CCUS as a tool to decarbonize the industrial sector. We look forward to working with Wabash Valley Resources team as they develop this project and demonstrate that CCUS is available today as a tool to combat climate change."
Nalin Gupta, Board Member of WVR, commented, "We would like to thank the Indiana Governor Eric Holcomb and the Indiana General Assembly for their support. Indiana's business friendly environment and innovative culture were instrumental in facilitating the development of an ammonia and carbon sequestration project. The project shall utilize traditional clean energy financing vehicles, such as third party tax equity."
The project was recently selected to receive funding from the Department of Energy (DOE) as part of the Carbon Storage Program. The Program's objective is the advancement, development and validation of technologies that enable safe cost-effective, and permanent geologic storage of carbon dioxide (CO2).
Direct all inquiries to Media@WVResc.com
Wabash Valley Resources (WVR), an affiliate of Phibro LLC, announces the closing of an investment from OGCI Climate Investments (OGCI CI) to develop a 1.5-1.75 million tons per annum, carbon capture and sequestration (CCS) project, located outside of West Terre Haute, Indiana.
The project will capture and sequester close to 100% of the plant's CO2 approximately 7000 ft below the surface into the saline sandstone aquifer known as the Mount Simon Sandstone, and will have the capacity to be expanded to 1.75 million tons of CO2 per annum.
Fertilizer plants are a major source of green-house gas emissions, representing approximately 2% of CO2 emissions globally. WVR's carbon capture and sequestration project will facilitate the production of fertilizer, from the co-located WVR plant, with a very low carbon footprint. Low carbon ammonia production lowers the carbon intensity of ethanol produced in the United States, making it economically more competitive in California and Europe.
Simon Greenshields, President and Chief Executive Officer of Phibro LLC, commented on the transaction, "This innovative carbon capture and sequestration project will facilitate the production of green ammonia. Farmers and industrial end users alike will, for the first time, be presented with an opportunity to purchase ammonia produced in an environmentally conscious and sustainable manner and at an affordable price."
Pratima Rangarajan, CEO of OGCI Climate Investments, commented: "CCUS will be a crucial part of the low carbon economy. Our investment in Wabash Valley Resources is a tangible demonstration of our commitment to CCUS as a tool to decarbonize the industrial sector. We look forward to working with Wabash Valley Resources team as they develop this project and demonstrate that CCUS is available today as a tool to combat climate change."
Nalin Gupta, Board Member of WVR, commented, "We would like to thank the Indiana Governor Eric Holcomb and the Indiana General Assembly for their support. Indiana's business friendly environment and innovative culture were instrumental in facilitating the development of an ammonia and carbon sequestration project. The project shall utilize traditional clean energy financing vehicles, such as third party tax equity."
The project was recently selected to receive funding from the Department of Energy (DOE) as part of the Carbon Storage Program. The Program's objective is the advancement, development and validation of technologies that enable safe cost-effective, and permanent geologic storage of carbon dioxide (CO2).
Direct all inquiries to Media@WVResc.com
ENERGY DEPARTMENT SELECTS ADDITIONAL CARBON STORAGE FEASIBILITY PROJECTS TO RECEIVE NEARLY $30M IN FEDERAL FUNDING
The U.S. Department of Energy's (DOE) Office of Fossil Energy (FE) has selected three projects to receive approximately $29.6 million for cost-shared research and development under Phase II of funding opportunity announcement (FOA) DE-FOA-0001450, Carbon Storage Assurance Facility Enterprise (CarbonSAFE): Storage Complex Feasibility. Project chosen under this FOA will determine the feasibility for commercial-scale storage complexes that can hold 50+ million metric tons of carbon.
