Gulf Coast Sequestration Appoints Industry Veteran David Cook as CEO; W. Gray Stream Named Executive Chairman
Lake Charles, La., October 11, 2023 – Gulf Coast Sequestration (GCS), a pioneering company building…
Project Cypress Notified of Selection to Negotiate with Department of Energy to Build Direct Air Capture Hub in Southwest Louisiana
Gulf Coast Sequestration Identified as Storage Partner for Team of Battelle, Climeworks and Heirloom
Lake Charles, LA – Gulf Coast Sequestration (GCS), a pioneering Louisiana-based company building a secure, world-scale carbon sequestration hub on the Gulf Coast, applauds the U.S. Department of Energy (DOE) for issuing Notification of Selection for a Louisiana project from the Bipartisan Infrastructure Law’s Regional Direct Air Capture (DAC) Hubs program.
This funding will support the development of the Project Cypress DAC Hub, a joint Direct Air Capture and Storage (DAC+S) endeavor with Battelle, Climeworks, and Heirloom planned in Southwest Louisiana. GCS has been selected as the Hub’s storage partner to advance the commercialization of DAC+S in the United States and the state of Louisiana.
Managed by Battelle, Project Cypress will leverage renewable energy-powered DAC technology provided by Climeworks and Heirloom to remove carbon dioxide from the atmosphere and safely and permanently store it underground at a site overseen by GCS. In addition to the environmental benefits provided by the project, the Hub will support the local economy through new job creation and significant community and regional investment.
“We are pleased that DOE has recognized the role that Project Cypress can and will play in advancing our energy transition through significant decarbonization,” said Gray Stream, CEO of GCS. “Deploying DAC provides a pathway to reaching net-zero or even negative carbon emissions and this project will support the longevity and sustainability of Louisiana’s important and essential industrial corridor and workforce.”
“GCS is grateful for the leadership of Louisiana Governor John Bel Edward and Senator Bill Cassidy, M.D. in championing Project Cypress and the economic and environmental benefits it can bring to residents of Louisiana,” said Benjamin Heard, President and Chief Operating Officer of GCS.
GCS continues to work closely with DOE, the U.S. Environmental Protection Agency, the Louisiana Department of Natural Resources, and local community regulators and stakeholders on next steps in the Hub’s development.