CUPERTINO, CA – A new study has concluded that more than 2 million metric tons (MT) per year of CO2 can be extracted from the atmosphere and safely injected into the earth at two ethanol plant sites in California . The study was commissioned by Aemetis, Inc., a renewable natural gas and renewable fuels company focused on sub-zero carbon products.
The geological carbon capture and sequestration (CCS) geological formation survey and drilling study was carried out by Aemetis Carbon Capture, a subsidiary of Aemetis, and was conducted by Baker Hughes, a global energy services company present in 120 countries.
Baker Hughes’ study estimated that 1.0 million tonnes of CO2 per year can be sequestered in salt formations deep within the site of or near the Aemetis Keyes ethanol plant. The study noted that up to 1.4 million tonnes of CO2 per year is expected to be injectable at or near the Aemetis Riverbank site due to the favorable permeability of salt formation and other factors.
“The findings of the original Baker Hughes geological formation and pre-drill study confirm the feasibility of Aemetis ‘plans to construct two CO2 injection wells on or near Aemetis’ biofuel sites.” said Brian Fojtasek of ATSI, Aemetis’ carbon capture project manager. construction phase. “We have completed the front loading engineering and are now working on the Front End Engineering Design (FEED) and approvals for the Aemetis CCS projects. “
When complete, the Aemetis Carbon Capture CCS project is expected to capture and sequester more than 2 million tonnes of CO2 per year at the two sites of the Aemetis biofuel plants in Keyes and Riverbank, California. The amount of CO2 sequestered each year should equal the emissions of 460,000 passenger cars each year.
“This latest study for Aemetis builds on our extensive experience in evaluation of storage sites, well placement, examination of underground formation and drilling technology for CCS injection projects,” said Ajit Menon, head of energy transition for petroleum services at Baker Hughes. “This is another step in the development of CCS capacity, which will be a key element of the energy transition to come. “
Each MT of CO2 is expected to generate approximately $ 200 per MT from the California Low Carbon Fuel Standard and $ 50 per MT from IRS 45Q tax credit. Legislation is pending in Congress to increase the federal tax credit to $ 80 per tonne of CO2 and to provide billions of dollars in grants and loans to fund CCS projects in the United States