Denver-based BKV Corporation, an energy firm, has joined hands with Copenhagen Infrastructure Partners (CIP) to invest $500 million in carbon capture, utilisation, and storage (CCUS) projects in the United States. The new partnership will develop several CCUS prospects to lower carbon dioxide (CO₂) emissions from industrial origins and store them permanently underground.

The investment will be made by BKV's subsidiary, dCarbon Ventures, and CIP's Energy Transition Fund I. In the investment, BKV owns a majority 51% stake, taking responsibility for managing and operating the projects, while CIP holds a 49% stake, contributing heavy capital investment as well as strategic input.

Under the agreement, BKV has added its existing CCUS projects—like Barnett Zero and Eagle Ford—to the joint venture. The company also committed to increasing the number of projects in the coming three years through adding extra projects, assets, or capital contributions.

CIP has international experience in project development and financing of energy infrastructure, and BKV has experience in CCUS project development and operations. Their combined resources and capabilities are expected to expand the scope of carbon capture infrastructure and cater to growing demand for low-carbon industrial solutions in multiple industries in the United States.

The Barnett Zero Project, now operating in North Texas since November 2023, has already captured more than 200,000 tonnes of CO₂. It is reported to be the corner stone of the collaboration. At the same time, the Eagle Ford Project in South Texas is also scheduled to start operations by 2026, further boosting the operation of the joint venture as well as its impact.

Funds from this collaboration will go towards funding the design, construction, and operation of CCUS plants, focusing on the capture of emissions from industrial sources and storing them safely underground. The collaboration intends to acquire and develop other projects in the U.S., expanding into new industrial markets and geographies.

By combining technological innovation, process know-how, and substantial finance, the JV between BKV and CIP stands ready to assume a strategic role in the decarbonisation of industrial processes and the advancement of longer-term climate goals. The scheme ties in with broader initiatives to reduce atmospheric carbon pollution alongside the creation of sustainable energy infrastructure.

Source/Credits:
Original Source: BKV