Trace Carbon Solutions, LLC (Trace) and Molpus Woodlands Group have signed a servitude agreement providing Trace with exclusive rights to develop and operate a carbon sequestration site, to be called the Evergreen Sequestration Hub (Evergreen Hub), on approximately 20,000 acres in Calcasieu and Beauregard parishes in Louisiana. Trace will use the site to permanently sequester industrial CO2 in underground geologic formations, while Molpus will continue to manage the aboveground acreage as a sustainably managed working forest.
This servitude agreement is a fundamental step towards Trace’s goal to develop low-cost carbon capture, transportation and sequestration (CCS) assets across North America. The company anticipates that the Evergreen Hub will have high CO2 injectivity and total sequestration capacity of more than 250 million metric tons of CO2. The need for this sequestration capacity is supported by significant emission sources in the nearby Southwest Louisiana and Southeast Texas areas; Trace estimates more than 65 million metric tons per year of existing stationary CO2 emissions are located within 50 miles of the Evergreen Hub.
Trace Midstream Partners was formed in 2017 with a focus on developing midstream infrastructure across North America and has been supported by multiple equity capital commitments from Quantum Capital Group since inception.
The Molpus Woodlands Group, LLC, an SEC registered investment adviser, acquires, manages, and sells timberland as an investment vehicle for pension funds, college endowments, foundations, insurance companies, and high-net-worth individual investors. Molpus currently manages over 1.7 million acres of timberland investments in 15 states.
