In Texas, Verde Clean Fuels recently announced a Carbon Dioxide Management Agreement between Verde and Carbon TerraVault JV HoldCo, LLC, a carbon management partnership focused on carbon capture and sequestration development formed between Carbon TerraVault, a subsidiary of California Resources Corporation.
Under the terms of the agreement, Verde will construct a new renewable gasoline production facility at CRC’s existing Net Zero Industrial Park in Kern County, California. CTV JV initially plans to sequester a minimum of 100,000 metric tons (MT) per year of carbon dioxide (CO2) from Verde’s facility at the CTV I carbon storage vault. This emissions avoidance is the equivalent of taking nearly 22,000 passenger vehicles off the road. This new facility is expected to produce approximately 21,000 gallons per day of renewable gasoline (fully refined, finished fuel) from biomass and other agricultural waste feedstock to help support the further decarbonization of California’s economy and its transportation sector.
