Published by Todd Bush on November 21, 2022
November 21, 2022 10:00 AM Eastern Standard Time LAKE CHARLES, La.--(BUSINESS WIRE)--Gulf Coast Sequestration (GCS), a Louisiana-based company building the largest carbon sequestration hub in North America, and leading direct air capture (DAC) company Climeworks today announced the signing of a Memorandum of Understanding (MOU). Their partnership will aim to enable the permanent removal of one million tons of carbon dioxide from the air annually by 2030, with the capability to expand to multi-million ton capacity in future years.
>> In Other News: Clean Energy Procurement and Management Software Provider Verse Closes $5.75M Seed Round Led by Coatue, Launches First Product, and Signs Climeworks as Customer
Climeworks and GCS are industry pioneers bringing cutting edge innovation to carbon dioxide (CO2) removal and secure, permanent storage. GCS matches Climeworks' pioneering DAC technology with comprehensively studied geologic pore space ideally suited for a world-class carbon storage project.
Climeworks and GCS have started dialogue with local stakeholders toward developing an informed community benefits plan that will engage interested parties in the region throughout the planning and development of the project.
'Congratulations to Climeworks and Gulf Coast Sequestration on announcing this innovative collaboration,' said Louisiana Governor John Bel Edwards. 'Louisiana is rapidly emerging as a leader in the global energy transition, and carbon capture and sequestration is a crucial part of our plan to get to net-zero carbon emissions by 2050. This significant agreement between a pioneering Louisiana company and a global leader in direct air capture technology is another step forward in diversifying and growing our economy.'
'Louisiana is leading the way on direct air capture innovation,' said Senator Bill Cassidy, M.D. 'This deal is a great step forward for our state and all those working to strengthen our economy, create jobs in Louisiana, and reduce global carbon emissions.'
'Direct air capture (DAC) is a key technology for removing unavoidable and historic CO2 from the air,' said Climeworks co-CEO Jan Wurzbacher. 'Climeworks is excited to work with GCS on the development of a U.S. hub to scale up the DAC industry in support of a more economically and environmentally sustainable future in Louisiana.'
'Carbon capture and sequestration (CCS) is a key component of today's energy transition, offering an immediate pathway to rapid decarbonization,' said Gray Stream, President of the Stream Companies, the owner of GCS. 'Direct air capture (DAC) presents the inspiring possibility of reaching net-zero or even negative carbon emissions. Together, GCS and Climeworks are uniquely positioned to bring this promise to reality in the Gulf Coast's industrial corridor.'
Gulf Coast Sequestration (GCS) is the leading carbon sequestration solution in the United States, partnering with industrial customers to capture CO₂ and safely contain it underground.
Initially focused on the industrial corridor between southwest Louisiana and Texas, GCS expects to be the first operational carbon storage hub on the Gulf Coast. With an anticipated launch date in 2024, the hub will remove 10 million tons of CO₂ emissions annually from the atmosphere.
More information about GCS is online at www.gcscarbon.com.
>> In Company Spotlight: Climeworks
Climeworks empowers people and companies to fight global warming by offering carbon dioxide removal as a service via direct air capture (DAC) technology.
Climeworks is a global leader in direct air capture, with the world's largest DAC facility and storage installation currently in operation, and a team of 300 Climeworkers determined to contribute to a net-zero future. Climeworks' growing customer base includes over 160 companies including Microsoft, Stripe, Shopify, and BCG, as well as more than 16,000 individual Climate Pioneers.
Founded by engineers Christoph Gebald and Jan Wurzbacher in 2009, Climeworks is on a journey to climate impact at scale. To do so, we strive to inspire 1 billion people to act and remove CO2 from the air.
Remove CO2 from the air – with Climeworks:
Web • LinkedIn • Twitter • Instagram
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌎 Chevron Doubles Down on Carbon Capture with Massive Bayou Bend Hub 🌱 Manitoba Startup Pitches $5 Million Biochar Processing Plant to Ritchot Municipality 🏭 MATHESON to Build Ne...
Inside This Issue 🌎 History Made: Deep Sky Alpha Begins Operations with North America's First CO2 Storage via Direct Air Capture 🏅 Neste Achieved Platinum Medal in EcoVadis Sustainability Assessme...
Inside This Issue 🌱 Why Gevo's Live BECCS Project Changes Everything 🛢️ Alternative Carbon Carrier Technology Could Improve Both Oil Production and Carbon Storage 🌊 Hyundai Engineering & Const...
MATHESON to Build New Air Separation Plant in Las Vegas, Nevada, USA
BOULDER, Colo.--(BUSINESS WIRE)--Today, ION Clean Energy (ION), a leading provider of innovative post-combustion carbon capture solutions, announced a new offering called ICE Blocks™. These standar...
Manitoba Startup Pitches $5 Million Biochar Processing Plant to Ritchot Municipality
A pioneering waste management solution could soon transform how one Manitoba community handles organic waste. This week, Carbon Lock Tech, an innovative local startup, presented an ambitious propos...
What US Clean Energy Tax Credit Types Are Available in 2025?
In 2022, the Inflation Reduction Act (IRA) paved the way to grow clean energy investments in the US by extending and adding new types of tax credits. Its largest innovation, transferability, allow...
Marine Carbon Dioxide Removal Coalition Launches, Creates Forum to Responsibly Grow the Field
The coalition unites marine carbon removal companies, nonprofits, and academics to advance research and the responsible development of the sector WASHINGTON, Aug. 21, 2025 /PRNewswire/ -- The Mari...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.