San Antonio-based Elysian Carbon Management said Dec. 6 it secured an initial capital investment of $350 million from EnCap Flatrock Midstream, whose managing partner David J. Kurtz said Elysian is “at the forefront of developing projects necessary to support carbon reduction goals across America.” Projects currently are being considered in Texas, Louisiana, Colorado and Wyoming. Officials of the Global CCS Institute said, “The momentum and vital need for carbon capture and storage (CCS) technologies has never been greater. With a strong industrial base and the highest CO2 emissions of any state, Texas needs CCS to compete in a decarbonizing world. And CCS needs Texas – with its prime geology, business experience and political support – for this critical technology… The 45Q tax credit is now making CCS projects profitable.”
Elysian provides integrated CCS solutions to owners of industrial and power facilities seeking to transition to low-carbon products and address ESG goals through the reduction of emissions. Elysian CEO Bret Logue added, “We are excited to partner with EnCap Flatrock Midstream as we focus on developing, building and operating carbon storage sites, affiliated capture facilities, and the infrastructure required to connect emissions sources to geologic storage.”