Carbon TerraVault and Net Power have created an MoU, through which the companies have agreed to plan and conduct feasibility studies around Net Power’s facilities. One focus point for this project will be to determine the proximity of Net Power’s facilities to CTV’s underground CO2 storage vaults.

So far, Carbon TerraVault and Net Power have set out a plan to facilitate the initial deployment of a maximum of one gigawatt (GW) of power capacity, which will be accessed through Net Power’s new modular plants based in Northern California. The result of doing this, will be a maximum of 3.6 million metric tons per annum (MMTPA) of carbon dioxide emissions going into permanent sequestration in CTV’s reservoirs which are located nearby. It is currently anticipated that each of Net Power’s utility-scale modular plants will require less than twenty acres and on top of this, the plants are expected to generate an estimated 250 megawatts, as well as being deployable in multi-plant configurations.

The new MoU that has been created, is a significant step forwards for Net Power, as it highlights this company’s initial entry into California’s power market. On top of this, the MoU has also placed CTV in the position of being an early strategic partner when it comes to the deployment of Net Power’s power technology. As well as this agreement, CTV’s CCS projects which are currently under consideration, make up an approximate total of 7.8 MMTPA of CO2 emissions. This means that if the project is successful, it has the potential to enable an estimated 2.1 GWs of new, low-carbon power capacity within California.

Right now, the expectation of this partnership is for it to enable the state to reduce its greenhouse gas emissions, whilst also providing new and reliable energy sources. So far, the plan is that Net Power’s plants will be designed to create reliable power, whilst simultaneously eliminating a substantial amount, if not all of the carbon emissions with near-zero air particulate, as well as gaseous pollutants, such as nitrogen oxides (NOx), plus sulfur oxides (SOx). Altogether, these project would provide support for California’s air quality standards, along with California’s emission goals.

CRC’s President and Chief Executive Officer, Francisco Leon, commented, “This partnership with Net Power combines our strategically located carbon storage and natural gas assets with California’s call for more clean power. We are solidifying our position as a leader in carbon management solutions in the Golden State. CRC is committed to advancing innovative clean energy solutions while attracting new investments to California. Together, we are working to meet our State’s critical power needs with new, reliable, and low carbon energy.”

Net Power’s Chief Executive Officer, Danny Rice, added, “CTV is an industry leader in advancing responsible and safe carbon sequestration in California, and we look forward to collaborating with them and local stakeholders to responsibly unlock the full potential of CTV’s world-class assets. CTV possesses the resource potential to support the deployment of many Net Power facilities in California. This partnership can strengthen California’s pathway to achieve its environmental and energy goals while attracting new businesses that value 24/7 low carbon power – all made possible by our innovative ultra-low emissions technology in collaboration with CTV.”