Trace Carbon, Molpus Woodlands Sign Agreement to Develop Sequestration Hub
Trace Carbon Solutions has rights to develop and operate a carbon sequestration hub in Louisiana and Texas, capturing an estimated 250 million tons of CO2.
Trace Carbon Solutions, per a servitude agreement with Molpus Woodlands Group, is developing a carbon sequestration hub—Evergreen Sequestration Hub—on 20,000 acres in the Calcasieu and Beauregard parishes in Louisiana. It will permanently store industrial CO2 in subsurface geologic formations, allowing Molpus to continue to manage the surface acreage as a sustainable working forest.
“We are excited about this partnership with Molpus as we continue to grow this segment of our business to provide decarbonization solutions for industrial carbon emissions across Southwest Louisiana and Southeast Texas,” said Josh Weber, Chief Executive Officer of Trace. “Trace has the ability to offer services across the three main areas of the CCS value chain: capture, transportation, and sequestration. We recognize that large-scale, geologically superior sequestration sites are scarce in proximity to significant industrial carbon emissions. Thus, securing site for the Evergreen Hub, to permanently sequester CO2 emissions, is the first step toward building a full-cycle, integrated CCS business.”
Trace expects the Evergreen Hub to have high-carbon injectivity, providing a sequestration capacity for over 250 million tons of CO2. The high-carbon storage capacity will assist in capturing emissions from frequent emitters in the oil and gas industry of southern Louisiana and Texas. According to Trace estimates, more than 65 million tons of CO2 is emitted within 50 miles of the Evergreen Hub annually, making it an ideally located capture site for local industries.
“We welcome this partnership with Trace as another important and exciting milestone in the Molpus story,” said Terrell Winstead, Molpus’ President and Chief Executive Officer. “We are not only relying on traditional methods to drive value in our timberland investments. Our teams are also focused on creatively seeking out new and innovative revenue opportunities for our clients, which we believe add value and promote positive environmental impacts.”
