Entropy gives formal go-ahead to second carbon capture project
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Hey there, time traveller!
This article was published 09/07/2024 (516 days ago), so information in it may no longer be current.
CALGARY – Entropy Inc. says it has made a final investment decision to go ahead with its second carbon capture and storage project.
The Alberta-based company says the project will capture emissions from parent company Advantage Energy’s Glacier Gas Plant in northwest Alberta.
The carbon capture facility should be operational by the second quarter of 2026 and will be able to capture 160,000 tonnes of carbon dioxide per year.
This comes on top of Entropy’s first commercial-scale carbon capture project, which is already up and running at the Glacier site and has the capacity to capture 32,000 tonnes of CO2 per year.
Last year, Entropy became the first company to sign a deal with the federal Canada Growth backstopping the price of carbon, meaning Entropy’s investment in carbon capture technology will not be at risk if the future price of carbon changes.
Entropy previously pegged the capital cost of its proposed second carbon capture project at $49 million.
This report by The Canadian Press was first published July 9, 2024.
Companies in this story: (TSX:AAV)