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Elysian Carbon Management has secured an initial capital commitment of $350 million from EnCap Flatrock Midstream, the company said on Dec. 6.
Elysian provides integrated end-to-end carbon capture and storage (CCS) solutions to owners of industrial and power facilities seeking to transition to low carbon products and address environmental, social and governance (ESG) goals through the reduction of emissions.
Elysian is led by a team of CCS industry veterans: CEO Bret Logue, COO Keith Tracy, CFO Michael Pepe, chief strategy officer Michael Schwartz and senior vice president David Watson. They have more than 50 years of collective experience in CCS and over 150 years in the energy sector.
“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,” CEO Bret Logue said. “EFM’s unique experience in providing venture capital to the midstream sector, plus the team’s relationships and expertise in asset development and management makes the firm the perfect partner for Elysian.”
Sidley Austin LLP acted as legal counsel to Elysian with Partner Irving L. Rotter in the lead role. Shearman & Sterling LLP served as legal adviser to EnCap Flatrock Midstream with Partner Sarah McLean leading the firm’s team.
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