Trace Carbon Solutions LLC and investment adviser Molpus Woodlands Group, on behalf of a client, signed a servitude agreement for the development of a carbon sequestration hub in Calcasieu and Beauregard parishes, Louisiana, according to a Sept. 28 press release.
Under the agreement, Trace, a midstream and carbon capture and sequestration company, will have exclusive rights to develop and operate the Evergreen Sequestration Hub. The hub will permanently sequester industrial CO2 in underground geologic formations. Molpus will manage the aboveground acreage as a sustainably managed working forest.
Trace estimated at least 65 million metric tons (MMmt) per year of existing stationary CO2 emissions are located within 50 miles of the hub. Trace expects the Evergreen Hub to have a CO2 injectivity and total sequestration capacity of more than 250 MMmt of CO2.
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