Carbonvert, Castex JV to Operate Offshore CO2 Storage Hub in Louisiana State Waters

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HOUSTON--(BUSINESS WIRE)--Carbonvert Inc. (“Carbonvert”) and Castex Energy, Inc., through its wholly owned subsidiary, Castex Carbon Solutions, LLC (“Castex”, together with Carbonvert, the “JV Partners”) are pleased to publicly announce the execution of an operating agreement with the State of Louisiana to develop a 24,000 acre tract of land situated in State waters, offshore Cameron Parish, to permanently store carbon dioxide (“CO2”). Castex’s decades-long operational, commercial and subsurface experience, combined with Carbonvert's specialized expertise in carbon capture and storage (“CCS”), position the Cameron Parish CO2 Hub as a leading choice for regional emitters seeking efficient and sustainable decarbonization solutions.

Based on technical and subsurface studies by Castex and the region's advantageous subsurface geology, the Cameron Parish CO2 Hub has a total storage capacity of more than 250 million metric tons of CO2 and will service the region’s high concentration of existing industrial emitters and anticipated greenfield projects, notably ammonia and LNG facilities. The JV Partners are also actively exploring opportunities to repurpose existing pipeline infrastructure to support the project.

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Carbonvert CEO, Alex Tiller, shared, "We firmly believe our Cameron Parish offshore project will help shape Louisiana’s low carbon future. Our CCS project will strengthen the local economy via funds from the newly adopted Louisiana Act No. 378, via the Federal Justice40 requirements, and by attracting new low-carbon focused businesses and related jobs. It will also provide a solution to clean up existing regional CO2 emissions, which is a win for everyone.”

Castex EVP & CFO Aaron Killian commented: “Castex and Carbonvert look forward to developing the first offshore CO2 storage hub in Louisiana. Our Cameron Parish project combines premier geologic storage attributes with existing midstream infrastructure to provide a range of tailored solutions to the adjacent industrial corridors in need of economically viable CO2 storage. The significant environmental benefit and local economic impact of this project align with the mission and vision of the JV Partners and the industries we are collaborating with to address regional CO2 emissions.”

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Carbonvert Inc. is a carbon capture and storage project development and finance company that simplifies decarbonization for industrial facilities. Carbonvert was established in 2020 by veterans of the renewable and conventional energy sectors to manage the financial and technical complexities of CCS project development.

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Castex has been one of the most active operators, mineral buyers, and landowners in South Louisiana and along the Texas Gulf Coast for over 35 years.

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