SUNYA SCOOP

Elk Range roams into the DJ

March 25, 2025

Mitsubishi & Alt Carbon Partner to Scale CO₂ Removal via Enhanced Rock Weathering in South Asia

  • Tech + Climate: Partnership will deploy Enhanced Rock Weathering (ERW)—using crushed basalt to sequester CO₂ and improve soil health.

  • Major Milestones: Backed by $1B prepurchase agreement from Frontier, with $500K already delivered for early ERW removals.

  • Scale Ambition: Alt Carbon targets 5M tonnes CO₂ removal annually by 2030, scaling to 1B tonnes/year across South Asia.

Frontier Signs $33M CO₂ Removal Deal with Eion for Enhanced Rock Weathering

  • Deal Details: Frontier buyers will pay $33M to remove 78,707 tons of CO₂ via Eion's olivine-based soil amendment between 2027–2030.

  • Agri-CoBenefits: Farmers use Eion’s product as a cost-effective alternative to ag lime, enabled by carbon credit revenue.

  • Climate + Crop Solution: Olivine reacts with rainwater to turn CO₂ into bicarbonate, permanently stored in oceans, while improving soil pH.

  • Science-Backed MRV: Eion conducts deep soil sampling to measure carbon removal—leading R&D in enhanced rock weathering.

CIP Secures AUD 814M for Murchison Green Hydrogen Project in Australia

  • Massive Export Ambition: 1.8M tonnes/year of green ammonia aimed at Asian markets, powered by 6 GW of wind and solar.

  • Government Backing: Awarded AUD 814M ($545M USD) from Australia’s Hydrogen Headstart program—the country’s largest green hydrogen subsidy.

  • CIP Footprint: Adds to CIP’s 30 GW pipeline in Australia; complements investments like Star of the South offshore wind.

Verdagy Taps Black & Veatch for 60 MW Green Hydrogen Project in Texas

  • Hydrogen Scale-Up: Plant to produce 9,000+ tons/year of clean hydrogen, targeting FID by July 2025.

  • U.S.-Made Tech: Powered by Verdagy’s eDynamic electrolyzers, capable of real-time energy flexibility.

  • Economic Impact: Brings $150M+ investment to Texas, boosts clean energy exports, and supports domestic job creation.

ENGIE & Ares Add 0.9 GW of Solar + Storage to U.S. Portfolio

  • Portfolio Growth: Total ENGIE-Ares JV reaches 3.7 GW with this ERCOT & MISO solar + storage deal.

  • Ownership & Operation: ENGIE maintains controlling stake & operations, reinforcing its 11 GW NA portfolio.

  • Strategic Vision: ENGIE targeting 95 GW of renewables globally by 2030; Ares sees strong ROI via asset diversification.

Apricus Generation Secures $30M Credit Facility for Clean Energy Pipeline

  • Capital Flexibility: New $30M revolving credit line from Atlantic Union Bank to accelerate solar and battery storage projects.

  • Platform Growth: Follows Nexus Renewables acquisition, supporting Apricus’s energy transition-focused platform.

  • Market Confidence: Signals lender trust in Apricus’s clean energy strategy and management team.

ArcLight to Buy Brookfield’s 25% Stake in NGPL Holdings

  • Ownership Shift: ArcLight will hold 62.5% of NGPL, with Kinder Morgan retaining 37.5% and operating control.

  • Infrastructure Scale: NGPL operates 9,100 miles of natural gas pipelines, supplying Chicago & LNG export terminals.

NGP-backed Elk Range Royalties Acquires 250K Net Royalty Acres from Occidental for $905M

  • Landmark Deal: Acquires 250,000 NRAs in Colorado’s DJ Basin—one of the largest royalty deals to date.

  • Asset Visibility: Assets under Chevron & Civitas development, offering production upside & long-term value.

  • Growth Trajectory: Launches Elk Range Royalties III, with $1.2B+ capital deployed since 2020 across 23,500+ producing wells.

Shell Boosts Shareholder Returns, Refines Capital Strategy

  • Financial Strategy: Increasing shareholder distributions to 40–50% of operating cash flow, cutting capex to $20–22B.

  • LNG & Oil Growth: LNG sales to grow 4–5%/yr through 2030; oil liquids output sustained at 1.4M bpd.

  • Decarbonization Path: Targets 10% of capital employed in low-carbon solutions by 2030, maintaining 2024 energy transition goals.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.