Private equity firm Grey Rock Investment Partners and carbon capture and sequestration (CCS) developer CarbonCycle LLC announced a partnership in a press release on Oct. 3 to invest up to $100 million of capital commitment into CarbonCycle.

CarbonCycle will  use the investment funds to develop CCS projects with a focus on natural gas processing facilities and other industrial emitters. The use of CCS could  reduce the facility’s carbon footprint and combat climate change.

“With more than 450 natural gas processing facilities in the United States emitting more than 56 million metric tonnes of CO2 each year, we see a significant opportunity to mitigate carbon emissions and deliver healthy risk-adjusted returns for our partners,” Matt Miller, co-Founder and managing director at Grey Rock, said in a release.