green fuels

Houston company to build renewable gasoline production facility in California

The facility is expected to produce approximately 7 million gallons of renewable gasoline and sequester over 100,000 metric tons of CO2 a year by 2027. Photo via verdecleanfuels.com

A Houston company has announced a new agreement to construct a renewable gasoline production facility on the West Coast. Once up and running, the site is expected to produce approximately 7 million gallons of renewable gasoline and sequester over 100,000 metric tons of CO2 a year by 2027.

Houston-based Verde Clean Fuels (Nasdaq: VGAS), which specializes in fuel production from renewable feedstocks or natural gas, shared earlier this month that it has entered into an agreement to build a gasoline production facility that will use sequestered carbon dioxide to produce about 21,000 gallons per day of renewable gasoline, according to a news release.

The Carbon Dioxide Management Agreement, or CDMA, is between Verde and a joint venture company called Carbon TerraVault, a subsidiary of California Resources Corp. (NYSE: CRC) and Brookfield Renewable (NYSE: BEP). The facility will be built at CRC’s existing Net Zero Industrial Park in Kern County, California. The agreement provides Verde 50 acres of leased space for the facility at CRC’s Net Zero Industrial Park at Elk Hills field on which to construct its facility.

“Traditional gasoline used today is refined from crude oil and makes up over half of greenhouse gas emissions generated by the U.S. transportation sector, the largest contributor to GHG emissions,” Ernest Miller, CEO of Verde, says in the release. “We believe our proprietary technology and scientific approach will further enable California’s consumers of gasoline to seamlessly and materially participate in the critical decarbonization of our atmosphere and help achieve California’s climate goals.

"Our partnership with CTV marks a significant step towards fulfilling our domestic growth ambitions and represents a concrete pathway to decarbonizing the transportation sector," he continues. "By teaming up with the leading carbon management business in the U.S., we are poised to make a substantial impact.”

According to the release, the impact of the production of 21,000 gallons per day of renewable gasoline is equivalent to removing around 22,000 cars off the road.

“Doubling the CO2 storage opportunities under CDMAs at our Net Zero Industrial Park at Elk Hills in a matter of eight months further underscores CRC’s carbon management strategy and dedication to energy transition in California,” Francisco Leon, CRC’s President and CEO, says in the release. “This new agreement between CTV JV and Verde Clean Fuels provides an innovative approach to renewable fuels at the heart of energy development in the state, and further validates CRC’s decarbonization efforts by a publicly traded company looking to expand in California.”

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A View From HETI

LiNova will use the funds to advance its polymer cathode battery technology. Photo via Getty Images

A California startup that's revolutionizing polymer cathode battery technology has announced its series A round of funding with support from Houston-based energy transition leaders.

LiNova Energy Inc. closed a $15.8 million series A round led by Catalus Capital. Saft, a subsidiary of TotalEnergies, which has its US HQ in Houston, and Houston-based Chevron Technology Ventures, also participated in the round with a coalition of other investors.

LiNova will use the funds with its polymer cathode battery to advance the energy storage landscape, according to the company. The company uses a high-energy polymer battery technology that is designed to allow material replacement of the traditional cathode that is made up of cobalt, nickel, and other materials.

The joint development agreement with Saft will have them collaborate to develop the battery technology for commercialization in Saft's key markets.

“We are proud to collaborate with LiNova in scaling up its technology, leveraging the extensive experience of Saft's research teams, our newest prototype lines, and our industrial expertise in battery cell production," Cedric Duclos, CEO of Saft, says in a news release.

CTV recently announced its $500 million Future Energy Fund III, which aims to lead on emerging mobility, energy decentralization, industrial decarbonization, and the growing circular economy. Chevron has promised to spend $10 billion on lower carbon energy investments and projects by 2028.

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