Velocys signs CCUS agreement with Oxy Low Carbon Ventures for its biorefinery project in Natchez

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Type of post: NEWS.

Velocys, Inc. has signed an agreement with Oxy Low Carbon Ventures, LLC (OLCV, a wholly owned subsidiary of Occidental) to capture carbon dioxide from Velocys’ planned Bayou Fuels biomass-to-fuels plant in Natchez (Mississippi) and securely store it underground in a geologic formation.
Press release: “Negative-emission fuel agreement”, 10/10/2019.
Related posts:
- “Velocys plans for the construction of a commercial BTL plant move forward”, 13/8/2018.
- “The USDA does not find significant impact on the environmental assessment report for Velocys’ planned Mississippi biorefinery”, 13/8/2018.

Figure 1. Natchez aerial site view (extracted from Velocys website)

OLCV will take, transport and store CO2 captured from the Bayou Fuels plant, when it is completed, enabling the production of transportation fuels that have a net negative carbon intensity, making it the first facility of its kind in the world. The Velocys biorefinery will transform waste woody biomass into transportation fuels, such as diesel for heavy trucks and sustainable aviation fuel, using Velocys’ proprietary Fischer-Tropsch process. The integrated technical solution designed by Velocys is ideally suited to carbon capture, usage, and storage (CCUS). The CO2 is captured before it enters the atmosphere. The combination of technologies and expertise of both companies will enable the planed facility to produce net negative carbon intensity fuels.

Integrating CCUS into the Bayou Fuels biorefinery will increase certain targeted revenue streams, such as those derived from the California Low Carbon Fuels Standard, and US 45Q tax credits that incentivise the installation of carbon capture equipment on industrial facilities. This has a meaningful positive impact on returns. It also helps to de-risk the project and others that follow it. The proposed CCUS solution can be replicated at other sites under development, including Velocys’ UK project which recently submitted a planning application to build Europe’s first commercial scale waste-to-jet fuel facility.

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