#carbon capture #Genesis Fertilizers #CARBONCO

CARBONCO and Genesis Fertilizers Sign License Agreement

On December 3, 2024, CARBONCO Pte. Ltd., a prominent player in decarbonization technology, signed a significant License Agreement with Genesis Fertilizers. This partnership aims to enhance Genesis Fertilizers' carbon capture initiatives, marking a substantial step towards developing Canada's first low-carbon urea nitrogen fertilizer facility.

The proposed facility, located in Belle Plaine, Saskatchewan, aims to capture around 800,000 tons of CO2 annually, which represents 95% of the carbon emissions generated by the plant. Through an innovative pipeline system, the captured CO2 will be transported in a compressed and dehydrated form to a storage hub ten miles away, ensuring permanent sequestration. The facility is expected to commence operations by 2029, potentially transforming the agricultural landscape in North America by providing a reliable supply of clean fertilizers.

The formal signing ceremony took place on November 20, 2024, at the Canadian Embassy in Korea. This event highlighted the commitment between CARBONCO and Genesis Fertilizers to collaborate on creating the world's lowest carbon footprint nitrogen facility. Notable attendees included Jason Mann, CEO of Genesis Fertilizers, and Sangmin Lee, CEO of CARBONCO, alongside the Canadian Ambassador to Korea, Ms. Tamara Mawhinney, who delivered a congratulatory speech underscoring the significance of this agreement.

Dr. Sangmin Lee expressed confidence in the partnership, emphasizing CARBONCO's past collaborations with top-tier companies in carbon capture projects. He assured that CARBONCO would devote its full resources to support Genesis Fertilizers in achieving its visionary goals. “We are committed to making this partnership a success,