CF Industries Announces Start-up of Donaldsonville Complex CO
"By starting permanent sequestration now, we reduce our emissions, accelerate the availability of low-carbon ammonia for our customers and begin generating valuable 45Q tax credits," said Tony Will, President and CEO, CF Industries Holdings, Inc.
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On an interim basis, ExxonMobil is storing CO 2 from the Donaldsonville Complex in permanent geologic sites through enhanced oil recovery. Upon receiving its applicable permits, ExxonMobil plans to transition to dedicated permanent storage, starting with its Rose CCS project. Rose is one of many dedicated permanent storage sites ExxonMobil is developing along the Gulf Coast to expand its integrated CCS network. The U.S. Environmental Protection Agency issued a draft Class VI permit for Rose in July, and final permits are expected later this year.
'The start-up of the Donaldsonville carbon dioxide dehydration and compression facility and initiation of sequestration by ExxonMobil is a historic milestone in our Company's decarbonization journey,' said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. 'By starting permanent sequestration now, we reduce our emissions, accelerate the availability of low-carbon ammonia for our customers and begin generating valuable 45Q tax credits.'
As a result of its Donaldsonville CCS project, CF Industries expects to produce approximately 1.9 million tons of low-carbon ammonia on an annual basis. CF Industries also expects to qualify for tax credits under Section 45Q of the Internal Revenue Code, which provides a credit per metric ton of CO 2 stored.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world's largest – to enable low-carbon hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world's transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company's website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
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