“$4 trillion dollars”

CapturePoint secures Southwestern CO2 dedication for CENLA hub

• CapturePoint announces deal with Southwestern Energy Company to dedicate CO2 from natural gas processing for sequestration in the Central Louisiana Regional Carbon Storage Hub (CENLA Hub).

• CENLA Hub Development: Under development by CapturePoint Solutions LLC, the hub aims to store captured CO2 in geological formations in Rapides and Vernon Parishes.

• Storage Capacity: Data shows the CENLA Hub can absorb over a billion tons of CO2.

• Permit Applications: Filed two applications for Class VI carbon sequestration injection well sites in Rapides and Vernon Parishes, with Vernon Parish’s application being the first to be accepted for FAST-41, a fast-tracking review process.

• Southwestern Energy’s Commitment: Southwestern Energy aims to meet the demand for reliable, lower-carbon energy and reduce CO2 emissions in the Haynesville basin, one of its core operating areas.

• Outreach Efforts: CapturePoint is reaching out to other producers in Louisiana to offer expertise and introduce the carbon storage potential of the CENLA Hub.

• Support Acknowledgement: CapturePoint appreciates the support from Energy Transfer and Southwestern, which will help secure millions of tons of CO2 annually from being released into the atmosphere.

DOE investing $444 million into CO2 storage

• The DOE is investing $444 million to strengthen America’s infrastructure for the permanent safe storage of carbon dioxide pollution.

• The projects aim to expand carbon dioxide (CO2) storage infrastructure, reduce emissions from industrial operations and power plants, and address legacy emissions in the atmosphere.

• The goal is to achieve a net-zero emissions economy by 2050.

• Sixteen projects were selected, with nine in CarbonSAFE Phase II focusing on feasibility studies and seven in CarbonSAFE Phase III concentrating on site characterization and permitting.

• The projects cover various regions, including the Southeastern Illinois Basin, Sacramento Delta, Wise County, Virginia, northeastern California, Delaware Basin in Texas, South Florida, Ackerman, Mississippi, northern Cook Inlet Basin in Alaska, and Echo Springs area of south-central Wyoming.

• DOE’s National Energy Technology Laboratory (NETL) will manage the selected projects.

• FECM has invested over $816 million in carbon storage technologies and infrastructure since January 2021 to support the transition to a clean energy and industrial economy.

• Priority areas for FECM include carbon capture, carbon conversion, carbon dioxide removal, transport and storage, hydrogen production, methane emissions reduction, and critical minerals production.

JP Morgan publishes 2023 climate report

• JPMorgan Chase’s Commitment: Committed to powering global economies and championing opportunities in all economic conditions.

• Net-Zero Emissions Goal: Aims to meet net-zero emissions by 2050 while ensuring secure, reliable, and affordable energy.

• Dual Objectives: Believes in achieving both sustainable energy and economic growth, not seeing these goals as mutually exclusive.

• Role of a Global Financial Institution: Provides clients with advice and capital for decarbonization strategies and addresses broader challenges in the low-carbon transition.

• Economic Growth and Energy Transition: Foresees a massive increase in investment (approx. $4 trillion annually) for a successful transition, likening its potential impact to the First Industrial Revolution.

• Barriers to Decarbonization: Identifies challenges such as policy-making, technological advancements, viable clean energy investments, resilient supply chains, and a skilled workforce.

• Collaborative Efforts: Stresses the importance of global cooperation in addressing climate change and commits to supporting energy needs and decarbonization journeys.

• Message from Jamie Dimon: Emphasizes the need for unprecedented action from various sectors for achieving climate goals.

• Climate Report Insights: Reports progress towards climate targets, operating independently in the best interest of the firm and clients.

• New Targets and Updates: Includes new sectoral targets for Shipping and Aluminum, updated emissions intensity reduction targets, and calculations of absolute financed emissions for eight sectors.

• Refined Focus: Expanded the “Oil & Gas End Use” target to “Energy Mix” target for a more holistic view of decarbonization efforts.

Enbridge acquires stake in solar project from EDF Renewables

• EDF Renewables and Enbridge Partnership: EDF Renewables North America has partnered with Enbridge Inc., with Enbridge acquiring a 50% stake in the Fox Squirrel Solar Project.

• Fox Squirrel Solar Project: Located in Madison County, Ohio, this project is set to be EDF Renewables’ largest onshore renewable project and the largest solar complex in Ohio.

• Project Capacity and Phases: The Fox Squirrel Solar facility, a ground-mounted solar project, has a capacity of 749 MWdc/577 MWac and is being constructed in three phases.

• Operational Timeline: The initial phase is expected to be operational by the end of the current year, with the remainder completed by the end of 2024.

• Power Purchase Agreements: Secured 20-year fixed-price power purchase agreements with a strong investment grade counterparty.

Acadia Infrastructure launches energy transition fund

• Acadia Infrastructure Capital launches in New York City to support U.S. energy transition infrastructure.

• Comprises a team of industry veterans and offers strategic mid-market deployment of equity and tax credit transfers.

• Focuses on reliable clean energy solutions.

• Offers bespoke programs for institutional investors and corp

  orations in the U.S. energy transition infrastructure market.

• Aims to bridge equity funding gaps in clean energy projects and address clean energy targets.

• Leadership team led by Tim Short and Michael Hamilton with over 20 years of industry experience.

Apollo and CATEC launch Hydria

• Hydria Launch: Apollo Funds and CATEC have launched Hydria, a new high-growth company focused on manufacturing and leasing gaseous equipment, supporting the energy transition.

• Acquisition of Kelley Leasing Partners: Hydria was formed following the acquisition of Kelley Leasing Partners, a company specializing in leasing equipment for compressed gas and cryogenic liquids.

• Leadership Appointments: Scott Prince, an experienced industry executive and Apollo Operating Partner, appointed as CEO of Hydria; Ken Kelley, Bryan Kelley, and Wes Knapp from Kelley Leasing Partners join Hydria’s senior leadership team.

• Company Focus: Hydria aims to support the CNG, RNG, helium, and hydrogen value chains with transportation, storage, and leasing services.

• Growth and Diversification Goals: The acquisition brings enhanced equipment scale, diversification, and manufacturing capabilities to Hydria, along with 75+ years of industry expertise from the Kelley family.

• Sustainable Energy Transition: Hydria’s launch is part of a broader initiative to support sustainable operations and pursue opportunities in the hydrogen transport and storage market.

• Apollo’s Sustainable Investing Platform: The launch aligns with Apollo’s commitment to sustainable investing, aiming to deploy $50 billion in clean energy and climate capital by 2027, and potentially over $100 billion by 2030.

Air Liquide and ENEOS team up on hydrogen in Japan

• Air Liquide and ENEOS sign Memorandum of Understanding (MoU)

• Collaboration to accelerate low-carbon hydrogen development in Japan and support energy transition

• ENEOS provides strong energy infrastructure and market presence in Japan

• Air Liquide brings over 60 years of expertise in the hydrogen value chain and Carbon Capture, Utilization, and Storage (CCUS)

• Collaboration covers the entire value chain of low-carbon hydrogen

• Upstream, focus on low-carbon hydrogen production using CCUS and electrolysis technologies

• Explore the development of an international liquid hydrogen supply chain for Japan

• Downstream, joint initiatives for hydrogen mobility, including hydrogen refueling stations

• Consider collaboration in innovation along the hydrogen supply chain

• Aims to contribute to decarbonization of industry and mobility in Japan

• Aligns with Air Liquide’s strategic plan ADVANCE and ENEOS’ Long-Term Vision to 2040

Frontier facilitates $47 million of carbon removal

• CarbonCapture and Heirloom sign offtake agreements with Frontier buyers for carbon removal.

• Goal to remove a total of 72,000 tons of CO₂ on behalf of Frontier buyers by 2030.

• Direct Air Capture (DAC) paired with geologic storage offers durability, small physical footprint, and straightforward verifiability.

• Frontier Founding Members Stripe, Alphabet, Shopify, Meta, and McKinsey Sustainability, as well as Autodesk, H&M Group, JPMorgan Chase, and Workday have purchased through Frontier.

• Additional purchases via Watershed’s partnership with Frontier from Aledade, Boom Supersonic, Canva, SKIMS, Wise, and Zendesk.

• CarbonCapture to remove 45,500 tons of CO₂ by 2028 for $20.0M, with declining prices over the agreement.

• Heirloom to remove 26,900 tons of CO₂ by 2030 for $26.6M, with a focus on low-cost DAC using limestone.

• CarbonCapture uses modular sorbent systems, actively developing new sorbents to reduce costs.

• Heirloom’s approach relies on operational excellence and economies of scale with limestone-based DAC.

• CarbonCapture and Heirloom aim to drive down the cost of carbon removal.

• Frontier members show confidence in the technology and path to scale for DAC carbon removal.

• CarbonCapture and Heirloom are pursuing distinct approaches to reduce DAC costs and achieve gigaton-scale carbon removal.

Toyota to source cathode material and anode foil from Redwood Materials

• Toyota and Redwood collaboration on closed-loop battery solution

• Initially focused on recycling Toyota hybrid EV batteries

• Expanding into battery materials supply in North America

• Toyota to source cathode active material and anode copper foil from Redwood for North Carolina battery plant

• First automaker to recycle end-of-life batteries and use recycled metals in new EV batteries

• Redwood aims to produce critical battery components in the US for the first time

• Goal to decrease EV cost, emissions, and secure national supply chain

• Targeting 20% recycled nickel, 20% recycled lithium, 50% recycled cobalt in cathode, and 100% recycled copper in anode

• Making significant investments to scale technology and facilities in the US

• Expanding Northern Nevada facility and building Battery Materials Campus in South Carolina

• Aiming to scale production of components to 100 GWh annually

• Ramping up domestic battery materials supply chain to meet US electrification goals

• Working with Toyota to accelerate sustainable transportation through recycling and domestic materials supply.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.