In Canada, Reconciliation Energy Transition Inc. (“RETI”), and Sumitomo Corporation, through its subsidiary Ammolite Carbon Sequestration have entered into a Joint Development Agreement for the RETI East Calgary Region Carbon Transportation & Sequestration Hub project (“CTS Hub”) east of Calgary, Alberta. The RETI East Calgary Region Transportation & Sequestration Hub LP, a Limited Partnership established for the purpose of conducting project related activities, is also a signee to the agreement.
Building upon the Exclusivity Agreement in October 2023, the parties have successfully finalized terms for Sumitomo Corporation Group to acquire a significant equity interest in the CTS Hub. The CTS Hub project intends to progress the FEED study as soon as possible, targeting first CCS operations in FY2026.
The open-access hub will provide a CCS-as-a-service solution for both existing emitters, seeking to reduce emissions, and newly proposed energy transition facilities, providing solutions that will contribute towards realizing a Net Zero Canada by 2050, including, but not limited to:
· Power plants needing to comply with the Clean Energy Regulation
· Clean hydrogen production facilities
· Biofuel production facilities
· Direct air capture (DAC)2 facilities
· Other industrial emitters
Tags: Canada, RETI, Sumitomo
Category: Fuels
