In a joint venture with the Navajo Transitional Energy Company (“NTEC”), we are developing a carbon capture and sequestration project for the Four Corners Power Plant in New Mexico. NTEC is the third largest coal producer in the U.S. and is wholly-owned by the Navajo Nation.

The project will retrofit the coal-fired power generation units with a modular, amine capture technology to capture 5 million metric tons of CO2 per year in phase I and double that in phase II. The CO2 captured from the project will be sold to an oil and gas company for enhanced oil recovery. The project is expected to qualify for 12 years of direct pay of IRS §45Q tax credits and be operational by the first quarter of 2029.

In 2023, NTEC and Enchant were awarded a grant from the U.S. Department of Energy for a Carbon Capture FEED Study for the Four Corners Power Plant. The grant was subsequently canceled in 2025.