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ClearPath Action Rundown

May 19, 2023

ICYMI: Advanced nuclear developer Oklo announced yesterday it secured land rights and a partner for its second and third commercial nuclear reactors, to be built in southern Ohio.



1. Drax announces CDR deal



UK-based companies C-Zero Markets (C-Zero) and Drax signed an MOU

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related to the sale of carbon removal credits from Drax’s first U.S. bioenergy with carbon capture and storage (BECCS) project.

C-Zero intends to buy 2,000 metric tonnes of carbon removals, equivalent to 445​​ gasoline-powered passenger vehicles driven for one year.

Drax aims to deliver 12 million metric tonnes of carbon dioxide removals (CDRs) per year using BECCS by 2030.

What’s clear: CDR is a necessary solution to meeting global emissions reduction goals, and BECCS is one of the solutions that are ready to deploy today. Longer lasting and lower risk carbon credits, such as the types generated by carbon removals technologies, are increasing in demand as more organizations look to decarbonize. Learn more about the different types of CDR solutions from our 101

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2. Colorado next in line for Class VI primacy

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Carbon capture and sequestration (CCS) projects will be essential to meet clean energy goals, but the backlog at the EPA to approve storage sites, known as Class VI wells, could slow it down. Colorado’s Democrat Governor Jared Polis signed legislation

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this month directing the relevant state agencies to move forward with an application to gain primacy for Class VI well permits.

More than 70 applications are currently stuck in the approval queue at the EPA.

Applications date back to 2020, but no CO2 injection sites have received approval.

Wyoming & North Dakota have primacy, and Louisiana’s application is moving forward

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ClearPath estimates projects in the queue could capture up to 6 million tonnes per year of carbon dioxide in Louisiana alone.

PA, TX, WV, & AZ are also moving towards primacy applications.

What’s clear: The International Energy Agency has said CCS is “necessary to meet national, regional and even corporate net zero goals.” Moving primacy of regulations for Class VI wells to the states makes sense. States have shown decades of success in regulating multiple forms of injection wells within their borders, and the EPA itself has encouraged states to apply.



Plug in: ClearPath CEO Rich Powell recently wrote for RealClearEnergy

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how, “Often these state-specific regulatory environments are more stringent than EPA and allow for more efficient permitting, which is a win-win.”



3. ClearPath grows operations team

Leah Baucom

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joined our team this week as the new Human Resources & Operations Manager.

In this role, Leah optimizes the backbone systems and processes that run the organization. Prior to joining ClearPath, Leah was the Human Resources Director at First Choice Masonry, a commercial construction company headquartered in Washington, D.C.

“Leah's impressive background in HR and operations brings invaluable depth to our operations team. Her exceptional problem-solving skills and opportunistic mindset will create a cascading impact throughout our entire organization,” said Andrea Steiner, Chief Operating Officer, ClearPath.

4. Advanced nuclear to help accelerate American industrial growth

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Nuclear power generation is one of the cleanest, most reliable, and scalable sources of low-emissions energy we have today, and these benefits are being recognized by utilities and heavy industrial users including projects such as:

X-energy and Dow Chemical will construct

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a high temperature gas reactor in Texas;

NuScale Power and Nucor Corporation are exploring the use

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of nuclear power for Nucor's scrap-based Electric Arc Furnace (EAF) steel mills;

NuScale Carbon Free Power Project

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in Idaho;

TerraPower Natrium

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demonstration in Wyoming;

GE Hitachi’s consortium

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with the Tennessee Valley Authority, Canada’s Ontario Power Generation, and Poland’s Synthos Green Energy.

What’s clear: An increase in demand for carbon-free, dispatchable electricity has coincided with unprecedented momentum within the U.S. nuclear industry. Furthermore, the U.S. military, major data centers, and heavy-industrial users are exploring a variety of advanced reactor designs, including microreactors to meet their secure power and clean heat needs.

5. Niko McMurray testifies before the NRC

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ClearPath Managing Director of Public Policy Niko McMurray testified before the U.S. Nuclear Regulatory Commission (NRC) on the Part 53 draft proposed rule package.

Niko discussed

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the opportunity, and obligation, for the Commissioners to vote to create a rule that can improve upon the NRC’s current rules, and can efficiently and effectively license a large number of new reactors.

Plug in: Learn more about the current status of the Part 53 rule here

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6. DOE invests in CO2 transport and storage

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Nine projects across seven states were selected for a total of $242 million in funding to support the development of new and expanded large-scale, commercial carbon storage projects.

$2.5 billion

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was appropriated by the 2021 bipartisan infrastructure law to develop domestic carbon storage.

Each project will have the capacity to securely store 50 or more million metric tons of carbon dioxide.

DOE re-opened and expanded the scope of the $2.25 billion CarbonSAFE funding opportunity. Applications for this round of funding are due in early July

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What’s clear: Geographically diverse and accessible storage options are fundamental to the success of carbon capture. DOE’s CarbonSAFE Program is an excellent example of how the federal government can partner with private companies to develop carbon storage capacity.

7. ICYMI

Last week, Senators Susan Collins (R-ME) and Maria Cantwell (D-WA) reintroduced the Carbon Removal and Emissions Storage Technologies (CREST) Act

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, which would boost carbon removal solutions.

EPRI and NEI published their Advanced Reactor Roadmap: North America

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, which sets a strategy and path forward to achieve the large-scale deployment of advanced reactors in the U.S. and Canada.

AEIC released a new report, “High Hopes for Hydrogen Hubs

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.”

The Danish Energy Agency (DEA) has awarded Ørsted

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a 20-year contract for its carbon capture and storage (CCS) project ‘Ørsted Kalundborg Hub,’ which will capture and store 430,000 tonnes of biogenic CO2 from two wood-fired bioenergy power plants.

That's all from us. Thanks for reading and have a great weekend!

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