Enchant Energy Corporation (“Enchant”) is providing carbon capture, use, and sequestration (“CCUS”) as a service to develop post-combustion CCUS projects for fossil fuel power plants and large industrial emitters
What is Carbon Capture Utilization and Storage (CCUS)?
CCUS is the process of capturing CO2 and utilizing it or storing it deep underground. Successful carbon capture and storage projects are critical to our country’s energy economy to ensure a reliable energy supply.
In the past, carbon capture projects utilized pre-combustion coal-gasification processes. Enchant Energy operates post-combustion, solvent-based (amine or potassium carbonate) carbon capture systems, like those already running successfully on a smaller scale. Although solvents have been used to capture pollutants across many energy industries. Enchant’s deployment of solvent technologies enables the recovery of CO2 from post-combustion flue gas streams.
With CCUS, large amounts of CO2 are utilized or redirected to underground storage. Expanding safe storage capacity is the focus of our R&D.
Enhanced Oil Recovery (EOR)
EOR is critical for domestic oil production because over 60% of U.S. oil deposits are not recoverable by conventional methods. Oil fields typically lose the bulk of their production in 15-18 months. EOR can access immobile reserves and nearly double recoverable oil. Today, EOR accounts for approximately 5% of U.S. oil production and is growing rapidly, potentially unlocking billions of additional barrels of oil.
Located in West Texas and Southeastern New Mexico, the Permian Basin is the highest-producing oil field in the U.S. As naturally occurring deposits of CO2 are drying up, Enchant Energy is pumping in pure CO2 – extending the productivity of this vital, energy-rich basin.
Retrofitting Fossil Fuel Power Plants
Enchant Energy is applying its carbon capture technologies to optimize clean fossil fuel power. This assures ample baseload power and grid reliability, as well as mitigating CO2 emissions at the source of production. Retrofitting is fully compliant with all U.S. and state standards for air and water protection.
Project Piplline
45Q Tax Credits and Investing in Carbon Capture with Enchant
The 45Q tax credit is an increasingly critical carbon capture incentive. Combined with the declining cost of carbon capture technology—made possible by extraordinary collaborations—45Q tax credits which may be paid in cash are creating attractive investment opportunities and driving the expansion of CCUS.
“The 45Q tax credit enhancements from the Inflation Reduction Act of 2022 will enable Enchant Energy to economically deploy carbon capture technology to mitigate climate change while providing attractive after tax returns to investors.” – Cindy Crane, Enchant Energy Board Chair
Advancing the Technology and Business Case for Carbon Capture
In November 2022, Enchant Energy announced that the San Juan Generating Station Carbon Capture Front-End Engineering Design (FEED) Study is now publicly available. The study was partially funded through an agreement with the United States Department of Energy.
The FEED Study was successful in establishing and defining the technical requirements, scope, schedule, and costing for the project to add carbon capture technology to the San Juan Generating Station.
The FEED Study shows that the technical and business cases for adding carbon capture technology to existing coal fired power plants is strong. Enchant Energy will utilize the advances made in carbon capture plant optimization to develop other projects across the company.
The core technology for the carbon capture system uses a proprietary amine‐based solvent carbon dioxide capture system developed by Mitsubishi Heavy Industries America, Inc., (MHIA). An earlier iteration of the technology was successfully implemented in 2016 by MHIA on a slipstream from a coal-fired boiler at the Petra Nova Plant in Texas.
The San Juan Project FEED study is being used to accelerate the development of other projects.