BECCS grows amid policy uncertainty

Development Activity

• ExxonMobil permits ‘Leo’ In-Zone-Monitoring well in Simpson County, Mississippi

Monroe Sequestration Partners to provide carbon storage services to Bio-Carbon Removal Southern Energy

• Monroe Sequestration Partners, a 50% Crestmont Investment and 50% DevvStream entity, plans to develop a legacy gas field in Northeastern Louisiana for permanent CO2 storage that the company estimates up to 260 million tons of storage capacity

• DevvStreams’s Southern Energy plans to develop a Biomass-to-fuels project leveraging the sequestration Asset

• The project will produce methanol for maritime and SAF for aviation

• The growing Biomass-to-X in Louisiana has been apparent with projects like Strategic Biofuels’ Louisiana Green Fuels (SAF), Fidelis’ AtmosClear, C2X & Sun Gas Renewable’ Beaver Lake Renewable, and DG Fuel’s St. James Parish Facility

• Biogenic projects have the ability to tap into the voluntary offtake market, creating value addition to IRA 45Q

Honeywell, Johnson Matthey, GIDARA, and Samsung E&A form Biomass-to-SAF partnership

• Honeywell, Johnson Matthey, GIDARA, and Samsung E&A formed a strategic partnership for biomass-to-SAF which aims to reduce CAPEX by 10%

• Each partner provides different capabilities to create the modular packaged design

  • GIDARA Energy’s proficiency in gasification and syngas production for feedstock transformation

  • Johnson Matthey brings advanced catalysts and technology for syngas to fuels

  • Honeywell’s process technology and digital automation solutions

  • SAMSUNG E&A’s global expertise in engineering, procurement, construction and project execution management.

• This marks another strategic partnership similar to Zaffra - a joint venture between Topsoe and Sasol to produce low cost SAF

The push to preserve 45V

• The Senate is currently debating the future of IRA’s 45V with an ambition to finalize the reconciliation of budget

• Industry is advocating for the preservation of 45V with a coalition of nearly 250 companies and business and labor groups urging U.S. Republican senators to preserve the credit

• In the meantime, hydrogen developers are waiting until final legislation before progressing development

• Harbour Energy receives positive subsurface test results from Havstjerne CO2 storage asset

• Linde is doubling CO2 capture and utilization capacity at MEGlobal’s Freeport facility

• Fidelis New Energy’s Norne CCS Hub in Denmark signed a 30 year agreement with the Port of Aalborg - Norne (CO2 terminal) will be a centralized CO2 transportation hub for maritime and onshore CO2 storage

• AirCapture secures $50M in Series A for medullar DAC

• Again plans CO2-to-chemicals in Texas City with HELM