California Resources Corporation Announces Carbon Dioxide Management Agreement for CTV's First Permanent Carbon Storage Project in Northern California

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Jan 04, 2023

California Resources Corporation (NYSE: CRC) today announced a Carbon Dioxide Management Agreement (CDMA) between Carbon TerraVault Holdings, LLC (CTV) and Grannus, LLC (Grannus), an independent clean-tech company that is building a portfolio of blue ammonia and hydrogen production facilities to supply the agriculture, mobility and marine fuel markets, to sequester 370,000 metric tons (MT) of carbon dioxide (CO2) per annum at CTV III from a new blue ammonia and hydrogen plant to be constructed in Northern California. Called the Grannus Blue Ammonia and Hydrogen Project, the project aims to be California’s first blue ammonia and hydrogen facility producing 150,000 MT per annum of blue ammonia and 10,000 MT per annum of blue hydrogen.