With carbon capture set to grow at a rapid pace in the coming years, many companies from the oil and gas industry, as well as emerging carbon capture specialists find themselves lacking data or struggling to verify it independently. This has motivated six companies to form a partnership with Project Canary placing its digital platform at the center. The goal is to provide trustworthy data-driven measurement, reporting, and verification (MRV) for carbon capture and storage.
The six companies are Denbury Inc., IMA Financial Group Inc., Enerflex Ltd., Wolf Carbon Solutions U.S., Advanced Resources International, and Project Canary. This lineup isn’t final, with more members likely to join in 2023.
Denbury is an energy company with extensive experience in enhanced oil recovery and a strong focus on carbon capture. IMA Financial Group is an integrated financial services company with a focus on insurance and with existing expertise in the carbon capture market. Enerflex is a Canadian natural gas infrastructure company. Wolf Carbon Solutions is a carbon capture solutions company working on CO2 pipeline infrastructure in the US. And last but not least – Advanced Resources International provides technology services for geological engineering.
Each of the founding companies brings something different and will lay the foundations of future standards that will allow companies to reliably capture, transport and store carbon dioxide. By focusing on independent third-party validation of data, the collective say that more trust will be generated, paving the way for deploying carbon capture at scale.
Connecting all these puzzle pieces will be the digital MRV platform created by Project Canary. The company says this will increase the accuracy and transparency of carbon capture data even down to a facility-level, allowing companies to make informed decisions when it comes to finance, engineering and the environment.
“Data and analytics must be at the foundation of any net-zero goals—we’re proud to lead the charge towards measured progress alongside our partners,” said Chris Romer, CEO of Project Canary.
Randy Robichaux, VP of Health, Safety, & Environment at Denbury, stated, “Considering the expected rapid growth of the industry, we believe it is essential for stakeholders to receive objective third-party verification of the safe and secure storage of CO2 in EOR and sequestration sites.”