Carbonvert sells Bayou Bend carbon capture project in Texas to Equinor

Carbonvert Inc. has announced the sale of its 100% ownership interest in the Bayou Bend carbon capture and sequestration project in Southeast Texas to Equinor. This milestone deal aligns with the mutual commitment of both companies to accelerate the transition to a low-carbon future and acts as a springboard for future Carbon Capture, Transport, and Storage (CCS) projects.

Bayou Bend: A Pioneer in the CCS Sector

Carbonvert takes pride in its groundbreaking role in the origination and early development of Bayou Bend. As the first CCS project in the U.S. to receive an offshore lease for CO2 sequestration, Bayou Bend has been a pivotal force in the Gulf of Mexico, setting the stage for a new era of CCS projects across the region.

Equinor’s Acquisition Fuels CCS Expansion

Equinor’s acquisition of Bayou Bend not only signifies the continued growth of the CCS sector but also enables Carbonvert to scale and develop its robust pipeline of CCS projects in the United States. Carbonvert CEO Alex Tiller emphasized that the sale aligns perfectly with the company’s long-term business strategy. “This divestiture will fund the continued growth of Carbonvert’s CCS portfolio in the U.S., placing a critical decarbonization asset in the hands of organizations that are well-positioned to operate it for decades,” said Tiller.

Community Benefits and Sustainable Development

Carbonvert believes that Equinor’s involvement will yield significant benefits for stakeholders in the Golden Triangle and Houston Ship Channel. Known for maintaining the highest levels of integrity, Equinor is expected to contribute positively to the communities they serve, further enhancing the Bayou Bend project’s social and environmental impact.

Future Implications for Carbonvert and CCS Sector

The sale of Bayou Bend positions Carbonvert to concentrate on its expansive CCS project pipeline, reinforcing its commitment to accelerating the low-carbon transition. With Equinor’s acquisition, the future of the CCS sector looks promising, especially in the Gulf of Mexico, as companies collaborate to drive innovation and sustainability in the fight against climate change.

The transaction underscores the crucial role of CCS technology in reducing greenhouse gas emissions and sets the stage for a sustainable, low-carbon future.