CO2 Capture & Sequestration
Project Design and Execution to Meet Climate Initiatives
The CleanCap Technologies team acts as the primary resource for designing, installing, and operating anthropogenic CO2 (ACO2) capture facilities with past experience in successful capture projects ranging from 300 to 1,200 metric tons per day (mt/d). With the growing pressure worldwide to achieve strict Environmental, Social, and Governance (ESG) initiatives, CleanCap is able to monetize waste gas to create fiscal value.
A deep knowledge of plant process equipment allows us to creatively apply technology and operating methods in order to minimize a facilities carbon footprint and generate a maximum value waste gas for further processing into byproducts, deep well permanent sequestration, or enhanced oil recovery (EOR). Our group has broad experience in CO2 pipeline design and implementation to complete final delivery of the recovered CO2.
One of the revenue sources comes from the U.S. Internal Revenue Code (I.R.C.) Section 45Q federal income tax credits. These tax credits are secured by either permanent sequestration or EOR sequestration of not less than 12,500 metric tons per year (mt/yr) of ACO2 sequestered with a value of $60 USD per metric ton (mt) for EOR and $85/mt for permanent sequestration. These values are indexed annually to inflation starting from the first year of operation. In order to receive the maximum tax credit value, prevailing wage and apprenticeships must be achieved.
*Note on CO2: 1 mt = 19,205 cubic feet (CF)
Summary of Qualifications to Claim Section 45Q Credits:
Minimum annual volume of 12,000 mt/yr or 0.7 million cubic feet per day (MMCFD)
Minimum volume may be aggregated from multiple resources within the same project
Facility must be 'under construction' by January 1, 2033
An EPA-approved Monitoring, Verification, and Reporting (MRV) plan is required under 40 CFR Part 98 Subpart RR
Required to Filer IRS Form 8933
An approved sequestration contract between capturing entity and either the EOR buyer or permanent sequestration site
45Q credits may be reallocated on an annual basis if all of the above standards are met
The CleanCap methodology of execution may include some or all of the following steps:
Obtain gas access contract after internal modeling
Internally analyze and size the project
Internally permit the project
Internally design and prepare drawings with fixed component pricing
Internal group installs and commissions facility
Deliver (sell) product(s) against fixed contracts developed by internal group
Advantages of working with CleanCap on a CO2 capture project include a significant CAPEX savings and an accelerated schedule. This allows for viable projects now and quicker movement to revenue to support the financing partner.
The equipment design deployed utilizes a raw gas compression and scrubbing / dehydration system followed by a unique inhibited methyl ethyl amine (MEA) CO2 capture set to produce CO2 meeting the current pipeline standards. Further compression is implemented to achieve supercritical CO2 for pumping into the primary transmission lines. The system is highly efficient and modeled to achieve greater than 96% CO2 recovery.