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"We are pleased to be working with Secured Carbon to help us meet our climate transition goals," said Synergy Chief Executive Officer Duane King. "Their experience and expertise is invaluable as we work to reduce our carbon emissions."
The CCUS project will capture and inject into the ground CO2 from new natural gas-fired on-demand power plants. The process is expected to result in a net reduction of greenhouse gas emissions.
"This project has the potential to be a game-changer for the energy industry and for the fight against climate change," said Secured Carbon CEO Tac Leung. "It will also do a lot of good for the economy and increase energy security. We're excited to be working with Synergy to make sure this project is successful."
Unlike other measurement, reporting and verification (MRV) systems which rely on self-reported analysis, flow meters and localized leak detectors to estimate emissions, Secured Carbon’s MRV addresses concerns about greenwashing by directly and continuously measuring the impact of a project on the surrounding air. It is based on the ground-breaking low-cost Berkeley Environmental Air Quality CO2 Network (BEACO2N) developed by Ronald Cohen, the chief scientist of Secured Carbon and a professor of Atmospheric Chemistry at UC Berkeley.
Pursuant to the Inflation Reduction Act’s requirements for EPA and IRS MRV standards, Secured Carbon verification and monitoring will support higher accountability and transparency for Synergy's climate transition project.
“This novel work is needed to link the science of estimating and mapping GHG emissions and will be of significant interest and utility to the financial sector," said Thomas Lauvaux, Research Scientist in Atmospheric and Carbon Cycle Sciences and Professor at the University of Reims Champagne-Ardenne. “We look forward to reading the project reports, learning more about the application of this work, and inspecting the resulting data sets.”
Synergy's Clean Energy platform is lead by Mr. King, who has extensive experience in the energy market place and is a serial entrepreneur. Lee Hightower, Synergy’s President, has developed a flexible and efficient oxyfuel combustion prototype genset requiring simple water vapor condensation for effective carbon capture and storage of the emissions.
“Secured Carbon‘s MRV will bring the highest level of efficiency and integrity to Synergy’s operations,” said Mr. Hightower.
Secured Carbon is a California benefit corporation whose mission is to continuously monitor and rate projects and localities to give investors confidence that their spending has the desired impact on the climate's bottom line.
Andy Dubinsky
Secured Carbon
+1 (415) 340-4141
[email protected]
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