NLC Energy Project

In November 2023, CRC’s Carbon TerraVault JV HoldCo, LLC (CTV JV) entered into a storage-only carbon dioxide management agreement (CDMA) with NLC Energy (NLCE), a company that designs, builds, owns, and operates renewable natural gas (RNG) facilities that convert organic waste into useful commodities like clean energy, organic nutrients, clean water, organic liquid carbon dioxide, and dry ice. In August 2024, the proposed project expanded to an expected 430,000 MT per annum of permanent CO₂ sequestration.

The CDMA contemplates a potential new waste-to-energy production facility at the proposed CTV Clean Energy Park at Elk Hills in Kern County, California. This proposed new facility would be expected to produce RNG from biomass and other agricultural waste feedstock to provide decarbonized energy to other companies’ green technology facilities located at the park, and sell into the California market, further reducing the carbon intensity of the state’s hard-to-abate sectors.

For more information, read the CTV Third Quarter 2023 Update press release and page 9 of the Third Quarter 2023 Results presentation and the CTV Second Quarter 2024 Update press release about the project’s expansion.