U.S. Carbon Capture JV Launches Backed by $500 Million Investment
(P&GJ) — BKV Corporation and Copenhagen Infrastructure Partners (CIP) have formed a $500 million joint venture to expand carbon capture, utilization and sequestration (CCUS) projects across the United States, the companies announced on May 8.
The agreement will see CIP invest up to $500 million through its Energy Transition Fund I for a 49% stake in the venture. BKV will hold a 51% share, contributing its existing Barnett Zero and Eagle Ford projects, along with other future CCUS assets and cash.
BKV will operate all CCUS projects under the new venture, which aims to identify and develop investment-ready projects nationwide.
“This strategic partnership with CIP...further strengthens the economics of BKV’s CCUS business while enabling the acceleration of its growth,” said Chris Kalnin, CEO of BKV. “By combining BKV’s technical and operating expertise...with CIP’s expansive network...we are well positioned to grow our CCUS business.”
The Barnett Zero Project in North Texas has sequestered more than 200,000 tons of CO₂ equivalent since launching in November 2023. The Eagle Ford Project in South Texas is targeting its first CO₂ injection in the first half of 2026, pending permits and agreements.
Additional projects from BKV’s growing CCUS portfolio are expected to be added to the joint venture as they reach development milestones.
Jefferies LLC served as exclusive financial advisor. BakerHostetler acted as legal counsel to BKV.
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