Carbon TerraVault JV HoldCo, LLC (CTV JV) has 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. NLCE's proposed facility would sequester a minimum of 150,000 MTPA of carbon dioxide (CO2) at the CTV
I reservoir at Elk Hills Field.
The CDMA expects NLCE will build a 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 up to 7,000 million British thermal units (MMBtu) per day of 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.