DEN - Denbury wins carbon transport storage deal for planned clean hydrogen plant

Denbury ( NYSE: DEN ) said Monday it reached an agreement to transport carbon and storage from Clean Hydrogen Works' planned clean hydrogen-ammonia complex in Louisiana, which is expected to be built less than two miles from Denbury's existing carbon dioxide pipeline network.

The planned Ascension Clean Energy hydrogen-ammonia complex is expected to include two world-scale ammonia blocks with estimated ammonia production totaling 7.2M tons/year.

Denbury ( DEN ) said it has exclusive rights to transport and sequester all carbon dioxide captured at the Ascension plant for 12 years following startup, with multiple extension options, with captured volumes estimated at 12M metric tons/year.

The company said it has invested $10M in the Ascension project and committed to invest another $10M when certain project milestones are achieved.

Denbury ( DEN ) said the cumulative volumes of its carbon dioxide transportation and storage services agreements have reached 20M tons/year, double the company's cumulative goal to reach 10M tons/year by the end of 2022.

Denbury's ( DEN ) carbon solutions business "may provide significant upside," Elephant Analytics wrote in an analysis published during the summer on Seeking Alpha .

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