Aemetis Inc (NASDAQ: AMTX) announced today that it had begun talks for the source of 1.6 million metric tonnes (MT) per year of CO2 for Carbon Capture and Sequestration (CCS). It is situated at or near the two Aemetis renewable fuels plant locations in Central California near Modesto.
The capacity of each injection well site to be approximately one million metric tonnes per year
It is expected that the capacity of each well injection site will be roughly one million metric tonnes per year, for a shared total of two million MT of CO2 confiscation per year.
“The prevailing California LCFS and IRS 45Q carbon detention and impounding agendas could maybe yield around $500 million per year of takings. It would be from inoculating a collective two million metric tonnes of CO2 per year at these two plant locations,” said Eric McAfee, Chairman, and CEO of Aemetis, Inc. “The Aemetis Carbon Capture arrangements are estimated to be income creators of outdated and renewable dynamisms that source California by offsetting carbon releases with carbon appropriation.”
Bestowing to the EPA, about one metric tonne of CO2 is produced for every 2,500 miles compelled in a commuter car. Seizing and sequestering two million metric tonnes of CO2 can counterbalance the CO2 releases from up to 5 billion commuter car miles each year, equivalent to the yearly carbon releases from about 350,000 cars.
The subsidiary was founded to shape carbon sequestration schemes
Freshly, the Aemetis Carbon Capture, Inc. subsidiary was founded to shape carbon sequestration schemes to produce LCFS and IRS 45Q credits by vaccinating CO2 into wells observed for releases to safeguard the long-term sequestration of carbon concealed. California’s Central Valley is well recognized as a significant area for large-scale natural gas creation and CO2 inoculation schemes due to the subsurface geologic creation that preserves air.
When connected to transport energies shaped for sale in the California market, CO2 sequestered concealed projected to produce income of about $200 per metric tonne under the California Low Carbon Fuel Standard (LCFS).
A Stanford University Center for Carbon Storage revision distributed in October 2020 mentioned ethanol plants in Central California as the most profitable sites for CCS in California, associating 61 carbon release amenities in the state.