Heimdal Announces Landmark Partnership to Locate Direct Air Capture Facility at CapturePoint's Oklahoma Carbon Hub

OKLAHOMA CARBON HUB, Okla., Jan. 23, 2024 /PRNewswire/ -- Heimdal Inc, a pioneer in direct air capture (DAC) carbon dioxide removal technology, is proud to announce a significant milestone in its journey to combat climate change. To strategically support growth of operations and sequestration of carbon dioxide, Heimdal has entered a partnership with CapturePoint LLC, a rapidly growing leader in carbon management solutions in the US.

Heimdal will co-locate its debut DAC facility, Project Bantam, onsite at CapturePoint's Oklahoma Carbon Hub in Osage and Kay Counties, Oklahoma, where CapturePoint affiliate CapturePoint Solutions LLC is developing a deep underground carbon storage center. Project Bantam will be capable of capturing up to 7,000 tons of CO₂ annually, putting it on track to become the largest DAC facility in the world when operational. The collaboration sets the foundation for long-term success and strategic alignment between the companies, and offers an exciting opportunity to support job creation and civic engagement with local Oklahoma communities:

• Heimdal will develop a 5-acre facility with Class II sequestration support from CapturePoint, with an initial nameplate capacity of 7,000 tons of CO₂ annually.
• In coming years, Heimdal has active plans to upscale onsite, growing direct air CO₂ capture capabilities to hundreds of kilotons, and eventually megatons.
• The agreement secures a mutually beneficial relationship that will allow capture and sequestration capacities to expand in tandem – as the innovative DAC technology captures larger volumes of CO₂, the development of Class VI sequestration wells in the Oklahoma Carbon Hub will provide sufficient permanent deep underground storage.
• The combined operations will offer an array of new job and educational opportunities to local communities, who will be involved throughout the development of the new DAC facility.

"We are thrilled to be collaborating with experts in carbon storage to bring a hub of sustainable innovation and economic opportunity to Oklahoma," said Marcus Lima, CEO of Heimdal. "Heimdal's mission is to bring tangible progress to the direct air capture industry. With this partnership, we take a significant step toward meeting our goals as a company, building a DAC facility of record size, in record time. Project Bantam is small, but it is only the beginning of our ambition and partnership with CapturePoint."

CapturePoint is developing Class VI CO₂ injection wells and deep underground carbon storage centers across thousands of acres in Colorado, Louisiana, Oklahoma, Texas, and other states. By working with Heimdal, operational capacity for carbon capture and sequestration (CCS) in Osage and Kay Counties will be poised to grow from just over a million tons of CO₂ per year today to several million tons annually in the next 3 to 5 years.

Tracy Evans, CEO of CapturePoint, commented, "The CapturePoint team is excited about this alliance with Heimdal and the significance for our Oklahoma Carbon Hub. By combining the leading-edge carbon capture and sequestration technologies of Heimdal and CapturePoint, we are creating a world class facility that will put the State of Oklahoma at the forefront of innovative carbon solutions."

Groundbreaking on this pioneering carbon management center is scheduled to take place in early 2024. With the impacts of climate change becoming increasingly evident, robust and responsible carbon dioxide removal initiatives need to be implemented quickly and effectively. Heimdal and CapturePoint are determined to lead from the front, demonstrating that industry leaders can pave the way for a greener, more sustainable future.­­­

About Heimdal

Heimdal (Heimdal Inc.) uses cutting edge, well-researched technologies to develop and rapidly scale cost-effective direct-air carbon capture (DAC). Heimdal is committed to building facilities capturing more than 1,000,000 tons of CO₂ annually by 2026. Heimdal's first facility, Project Bantam, is a commercial demonstration-scale facility set to begin operations this year, with a nameplate capture capacity of up to 7,000 tons of CO₂ annually.

About CapturePoint

CapturePoint LLC and CapturePoint Solutions LLC (CPS), together "CapturePoint," are affiliated companies based in Allen, Texas that develop, own, and operate carbon management assets for an era of energy transition. CapturePoint provides integrated carbon capture, transport and sequestration services and expertise consistent with the rigorous Environmental Protection Agency (EPA) standards for permanent carbon sequestration.

Forward Looking Statements

This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. Neither Heimdal nor CapturePoint undertake any obligation to update or revise any forward-looking statement herein to reflect new information or events, or to update the status of any permits, approvals or other regulatory factors that may affect potential future operations.

SOURCE Heimdal Inc.