OGCI Climate Investments, the Oil and Gas Climate Initiative’s investment arm, announces a new investment in carbon capture and sequestration (CCS) project to create the world’s first ammonia produced with near zero carbon footprint
May 21, 2019
May 20, 2019:
OGCI Climate Investments (OGCI CI) announced today its latest investment in what is expected to be the largest carbon capture and sequestration project in the United States to date.
The project will capture and sequester 1.5-1.75 million tons of CO2 annually from Wabash Valley Resources’ co-located ammonia plant, and will create the world’s first ammonia produced with near zero carbon footprint. Fertilizer plants are a major source of greenhouse gas emissions, representing approximately 2% of CO2 emissions globally. WVR’s carbon capture and sequestration project will facilitate the production of fertilizer, from the co-located WVR plant, with a very low carbon footprint.
Pratima Rangarajan, CEO of OGCI Climate Investments, commented: “CCUS will be a crucial part of the low carbon economy. Our investment in Wabash Valley Resources is a tangible demonstration of our commitment to CCUS as a tool to decarbonize the industrial sector. We look forward to working with Wabash Valley Resources team as they develop this project and demonstrate that CCUS is available today as a tool to combat climate change.”
ABOUT OGCI CLIMATE INVESTMENTS:
Climate Investments is a $1+ billion fund investing in technologies and business models which lower the carbon footprint of the energy and industrial sectors and their value chains. The fund was created by the CEOs of the Oil and Gas Climate Initiative to take practical action on climate change. We invest in innovative companies that are ready to be commercialized. We collaborate with global co-investors and industrials to achieve speed and scale. To learn more about OGCI Climate Investments, please visit www.ogci.com/climate-investments/.
Contacts: Media Enquiries: E. OGCI@hkstrategies.com T. +44 (0)207 413 3448