Denbury, Aqualung Carbon Capture announce partnership

Aqualung Carbon Capture is excited to announce the strategic carbon capture and sequestration partnership with Denbury. In conjunction with the partnership, Denbury will make an equity investment in Aqualung, expanding on our strong shareholder base. Aqualung’s CO2 capture technology has demonstrated the ability to significantly reduce the cost of capture utilizing our membrane technology and is being prioritized to industrial facilities across low and high levels of CO2 concentration. The targeted CO2 capture sources are initially sub 1 million metric tons per year of CO2 which represent ~90% of the stationary emitters. The agreement with Denbury provides Aqualung with additional insight and access into the transportation and sequestration sector and for Denbury, insight into the cost of capture technology aspects. Based on the industrial sources, the two companies will work together to provide a complete solution for emitters starting from capture at emission source all the way to sequestration. Denbury’s equity investment will accelerate Aqualung’s US strategy with a target to begin sending commercial CO2 into Denbury’s pipeline during 2024.