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Carbonvert

Carbonvert Inc. is a carbon capture and storage project development and finance company that simplifies decarbonization for industrial facilities.

Published May 5, 2022 • Updated September 18, 2023
Carbonvert
Energy Transition
Industrial Decarbonization
Carbon
CCUS
Insights
Details

Product Overview

Overview

Carbonvert is a Carbon Capture and Storage (CCS) Project Developer and Financing company that captures CO2 from industrial processes and stores it into solid caprock that is 1 to 2 miles deep. For the transport, they leverage exististing pipeline infrastruture that helps reduce costs.

The company is actively engaged in 7 CCS projects all in the US:

  • Corpus Christi Offshore> Together with Repsol, POSCO International and Mitsui, Carbonvert is developing an offshore CO2 capture and storage facility in Texas State Waters, in close proximity to several key industrial emitters. The 140,000 offshore acres in the Gulf of Mexico has a total projected CO2 storage capacity exceeding more than 600 million metric tons with a capability of injection of 20 Mtpa at 5,000 - 7,000 ft depths.
  • Cameron Parish CO2 Hub: Carbonvert and CASTEX Energy are developing a 24,000 acre tract of pore space offshore near Cameron Parish, Louisiana for CO₂ storage. The Cameron Parish CO₂ Hub will permanently sequester captured CO₂ more than a mile beneath the ocean floor. Based on the region's advantageous subsurface geology, the project has a total storage capacity of more than 250 million metric tons.
  • Carbonplex: a world-class industrial park developed with carbon management in mind. Prospective tenants located within a Carbonplex site or location gain access to Carbonvert’s CO2 capture, treatment, transport and removal services as well as existing utilities and logistics partnerships and infrastructure that meets their needs. The project, located close to Port Arthus, Texas, consists of a 350 acre of industrial park that will capture and store about 5 Mtpa.
  • Wyoming Trails Carbon Hub: With a total of $5.5 million award from the US DOE across two projects, the overall program will also serve as a roadmap and open-access resource for future carbon management and infrastructure developments. The project will provide a desktop feed study on an open access common carrier CO2 pipeline system with nominal capacity of 25 Mtpa
  • Nuclear DAC with Carbon Storage Pilot: Carbonvert, along with Battelle, Southern Company, Sargent & Lundy and the University of Alabama, are collaborating on an exploratory study for the direct air capture (DAC) and storage of CO2 emissions from a nuclear power plant. The project was awarded $2.5 million from the US DOE in September 2022. This FEED study for a DAC system is co-located with Southern Company’s Joseph M. Farrley Nuclear Plant. In this project, Carbonvert serves as a strategic advisor, commercialization partner and lead cost-share investor for the project.
  • Mid-Atlantic Offshore: Battelle and Carbonvert, with project partners, seek to build a foundation for a CCS hub along the Mid-Atlantic outer continental shelf. The project received an award of $2.5 Million award from the US DOE
  • Bayou Bend CCS: a 20+ Mtpa CO2 capture, transport and storage hub in southeast Texas that combines offshore and onshore acreage to serve Port Arthur, the Houston Ship Channel and surrounding region. Carbonvert was instrumental in securing the offshore lease alongside Talos Energy, and in detailed project planning and permitting applications. In August 2023, Carbonvert transitioned its ownership stake to Equinor.
Business Model

Carbonvert offers a fully integrated development model that includes identification & design, project financing, carbon capture, transport and storage as well as development and construction. For this the company is taking leading roles building joint ventures with other companies in this space. It can be expected that they will work as project developers for different customers.

Part of Carbonvert expertise also spans on the 45Q tax credit claiming and emission of carbon offsets.

Technology Innovations

Carbonvert has gathered an expert team that gather 70+ years of experience in large scale CO2 projects, including experience in the Petra Nova and Quest CCS projects.

Applications

Carbonvert is a CCS company currently developing 7 projects in the US. Their expertise also includes renewable energy infrastructure building, and carbon credit emissions.

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