Earlier this month, Elysian Carbon Management secured a $350 million investment from EnCap Flatrock Midstream (EFM).
Elysian provides integrated, full-service carbon capture and storage solutions across industries and power facilities.
The funds will allow Elysian to focus on developing integrated carbon capture and storage solutions. The overall goal is to reduce carbon emissions by at least 10 million metric tons per year.
EnCap Flatrock Midstream was formed in 2008 and manages nearly $9 billion in assets. They are based in San Antonio, with Oklahoma City and Houston offices.
As more companies seek ways to offset their carbon emissions – the carbon capture and storage industry is expected to increase – just like the carbon credit industry.
EFM Managing Partner David J. Kurtz, a member of the Elysian board of directors, said, “Elysian is at the forefront of developing projects necessary to support carbon reduction goals across North America. Few independent teams in this nascent sector have a comparable depth and breadth of the technical, financial, and operational experience needed to bring CCS projects to fruition.”
As the climate crisis continues, carbon capture, carbon storage, and carbon offsets will be needed to help mitigate environmental risk. Continued partnerships, such as Elysian and EFM, will help make environmental, social, and governance goals attainable.