Trace Carbon Solutions and Molpus Woodlands Group Announce the Evergreen Sequestration Hub in Louisiana

입력 2023. 10. 1. 14:07
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"We are excited about this partnership with Molpus as we continue to grow this segment of our business to provide decarbonization solutions for industrial carbon emissions across Southwest Louisiana and Southeast Texas," said Josh Weber, Trace Chief Executive Officer. "Trace has the expertise and ability to offer superior services across the three main areas of the CCS value chain - capture, transportation, and sequestration. We recognize that large-scale, geologically superior sequestration sites are scarce in proximity to significant industrial carbon emissions. Thus, securing such a high-quality site for the Evergreen Hub, to permanently sequester CO2 emissions, is the first step towards building a full-cycle, integrated CCS business."

"We welcome this partnership with Trace as another important and exciting milestone in the Molpus story," said, Terrell Winstead, Molpus President and Chief Executive Officer. "We are not only relying on traditional methods to drive value in our timberland investments. Our teams are also focused on creatively seeking out new and innovative revenue opportunities for our clients, which we believe add value and promote positive environmental impacts."

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HOUSTON -- Businesswire -- Trace Carbon Solutions, LLC (Trace) and Molpus Woodlands Group (Molpus), on behalf of a client, announced today that they have signed a servitude agreement providing Trace with exclusive rights to develop and operate a carbon sequestration site, to be called the Evergreen Sequestration Hub (Evergreen Hub), on approximately 20,000 acres in Calcasieu and Beauregard parishes in Louisiana. Trace will use the site to permanently sequester industrial carbon dioxide (CO2) in underground geologic formations, while Molpus will continue to manage the aboveground acreage as a sustainably managed working forest.

This servitude agreement is a fundamental step towards Trace’s goal to develop low-cost carbon capture, transportation and sequestration (CCS) assets across North America. The company anticipates that the Evergreen Hub will have high CO2 injectivity and total sequestration capacity of over 250 million metric tons of CO2. The need for this sequestration capacity is supported by significant emission sources in the nearby Southwest Louisiana and Southeast Texas areas; Trace estimates more than 65 million metric tons per year of existing stationary CO2 emissions are located within 50 miles of the Evergreen Hub.

“We are excited about this partnership with Molpus as we continue to grow this segment of our business to provide decarbonization solutions for industrial carbon emissions across Southwest Louisiana and Southeast Texas,” said Josh Weber, Trace Chief Executive Officer. “Trace has the expertise and ability to offer superior services across the three main areas of the CCS value chain - capture, transportation, and sequestration. We recognize that large-scale, geologically superior sequestration sites are scarce in proximity to significant industrial carbon emissions. Thus, securing such a high-quality site for the Evergreen Hub, to permanently sequester CO2 emissions, is the first step towards building a full-cycle, integrated CCS business.”

“We welcome this partnership with Trace as another important and exciting milestone in the Molpus story,” said, Terrell Winstead, Molpus President and Chief Executive Officer. “We are not only relying on traditional methods to drive value in our timberland investments. Our teams are also focused on creatively seeking out new and innovative revenue opportunities for our clients, which we believe add value and promote positive environmental impacts.”

About Trace

Trace Midstream Partners (“Trace Midstream”) was formed in 2017 with a focus on developing midstream infrastructure across North America and has been supported by multiple equity capital commitments from Quantum Capital Group (“Quantum”) since inception. Trace Carbon Solutions was formed in September 2022 following the successful sale of Trace Midstream’s Haynesville assets to Williams (NYSE: WMB) and Mid-Continent assets to Energy Transfer (NYSE: ET) for a combined transaction value of approximately $1.5 billion. Trace Carbon Solutions has over $420 million of equity capital commitments from Quantum, Climate Investment, and Trace management. The Company is actively pursuing the development of CCS assets and supporting midstream infrastructure across North America. For more information on Trace, please visit www.tracemidstream.com.

About Molpus

The Molpus Woodlands Group, LLC (Molpus), an SEC registered investment adviser, acquires, manages, and sells timberland as an investment vehicle for pension funds, college endowments, foundations, insurance companies, and high-net-worth individual investors. Molpus currently manages over 1.7 million acres of timberland investments in 15 states. Molpus was founded in 1996 as a timber investment management organization and has a company legacy dating back to 1905. Molpus is one of the oldest timber-related companies in the United States. For more information, please visit molpus.com. (https://www.molpus.com/)

Nothing herein constitutes an offer to sell or a solicitation of an offer to subscribe for or buy any security with respect to any fund. In considering the performance of investments referred to in these materials, prospective timberland investors should keep in mind that prior performance of Molpus investments is not indicative of future results, and there can be no assurance that Molpus will achieve comparable results in the future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230928999200/en/

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출처:Molpus Woodlands Group, LLC

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