Aug 30, 2024

At CarbonCapture, we're laser-focused on achieving several key success factors that will enable us to become a profitable DAC company. First, we have to be deeply committed to materials science, as we have for the last couple of years. In particular, we've been working with partners, including W.L. Gore & Associates, to develop and deploy cutting-edge structured sorbents. Second, we have recently debuted our full-scale commercial Leo Series modules and announced progress on our advanced manufacturing facility in Arizona, with module production starting in Q4 of this year. Third, we're focused on deploying our DAC technology in locations where we're sure to obtain affordable clean energy as well as carbon transport and storage infrastructure.

Despite the progress we’ve experienced in materials science and our manufacturing breakthroughs, we've been finding it difficult to deal with some of the challenges around deployment. Among other critical external issues, we've seen growing competition for clean power amongst industries that are emerging much faster than anybody would have ever predicted. This has acutely affected our efforts in Wyoming, and as a result, we've decided to pause our development of Project Bison and to relocate the deployment of our first-of-a-kind (FOAK) project outside the state.

We have no doubt that Wyoming will continue to build out clean energy infrastructure, but to reduce our short-term risks, we need to focus on a site where we can more quickly deploy our technology alongside robust shared infrastructure.

I want to truly thank our partners in Wyoming, including our Community Engagement Council, Governor Gordon's office, and the University of Wyoming for their support of this industry and their collaboration, not to mention the welcoming communities of Rock Springs and Green River. Their support for this work has been fantastic.

Last, we want to thank our Project Bison storage partner, Frontier Carbon Solutions. From the outset of our partnership, Frontier has shared in our commitment to making commercial CCS a reality, and Frontier will continue to provide world-class open storage to support carbon management to emitters across the Mountain West. Frontier’s accomplishments in the last two years—including securing the first three Class VI permits issued by the Wyoming Department of Environmental Quality—reinforces our confidence that Wyoming is positioned to be a long-term champion for the carbon management industry.

We know that CarbonCapture is not the only company that's facing challenges, and I really applaud the fact that some of our peers in this space have been transparent and open with the challenges that they've also been having when it comes to deployment. We're really proud to be part of an industry that acts that way.

What we're trying to do is collaborate with partners that share our values to deliver a successful project. To that end, we have multiple programs and options that we're pursuing, and we intend to announce specifically where our FOAK project will be in the coming months. We're also deeply thankful to our early buyers who are investing in this industry long-term.

Most importantly, we remain absolutely committed to doing our part in developing and deploying innovative solutions to one of the greatest challenges of our time.

- Adrian Corless, CEO of CarbonCapture Inc.

For questions, please review the FAQs below or email media@carboncapture.com.

FAQs

What is the status of Project Bison?

We’ve decided to relocate the deployment of our first-of-a-kind project outside of Wyoming and pause our development efforts related to Project Bison. This decision was driven by a desire to construct our FOAK as quickly as possible. Though WY is developing clean energy to power DAC facilities including traditional renewable projects and innovative nuclear projects, our development timeline requires these key ingredients on a large scale in the very near term. As a result, we are focusing on other sites where a shorter timeline is more achievable.


How will this experience inform future projects?

We are one of the first DAC companies in the world to reach the project development phase. Many of the roadblocks we’ve faced are circumstantial and reflect challenges across the DAC ecosystem in the United States. Procuring clean energy is normally challenging, but we also are dealing with intense competition from data centers.


Where is the new location for your FOAK DAC facility?

We look forward to announcing this soon.


What is the status of your DAC technology?

We’re ahead of schedule across our technology goals. We're already looking to deploy Gen-2 sorbents in our first commercial demonstration, we have debuted our size-efficient Leo Series modules, and we’re in progress on an automated assembly process at our manufacturing facility in Arizona.


How will this decision affect your relationships with Wyoming communities and partners?

Since the middle of 2022, before we even announced Project Bison, we established a community council dedicated to transparency about our plans and development. We’ve met monthly with our council and have dedicated significant time and capital to making sure that communities in SW Wyoming feel respected and included in the development of the project. Continuous community engagement with residents, business owners, and workforce is a part of our company’s ethos. The strong relationships we’ve built in the state make this decision all the more challenging, however the community has been incredibly understanding. They know this decision was only made after great effort to bring our original plans to fruition. We know that Wyoming is positioned to be a leader in the carbon removal and management industry and hope to continue our efforts there in the future.


How does this affect grant funding from the DOE?

Project Bison was the original intended location for the Wyoming Regional DAC Hub—a FEED study that was selected for TA-2 funding by the DOE. We're determining with DOE whether we can transfer this application to a new location.


How does this relocation align with the company's overall strategy for scaling DAC technology?

To successfully fight climate change we must achieve carbon removal at the gigaton scale. Our strategy for scaling DAC focuses on three key areas:

Materials science - Advanced sorbents with higher capture efficiency and durability are essential for reducing costs and improving the efficiency of DAC systems. We're building modules with a generalized hardware platform capable of accommodating the latest advancements in sorbent development.

Mass manufacturing - Our Leo Series DAC Modules are the first DAC systems designed for mass manufacturing, enabling us to drive down costs and accelerate deployment. We’ve also announced the world’s first DAC manufacturing site in Mesa, Arizona.

Site selection - Energy optimization is fundamental, and renewable energy sources like solar, wind, geothermal, and, hopefully one day, nuclear are necessary to make DAC carbon negative. Innovations in energy efficiency such as integrating waste heat recovery systems and innovations in heat pump and storage, can further lower operational costs and enhance scalability.