California Approves First Carbon Capture Project

California Resources Corporation (CRC) has received approval for the state’s first carbon capture and storage (CCS) project at its Elk Hills cryogenic gas plant in Kern County, aiming to store up to 100,000 metric tons of CO2 annually. Operations are set to begin in late 2025, with CRC expected to qualify for significant tax credits and reduced emissions from the facility. This project will utilize the 26R reservoir, a depleted formation, and is seen as a critical step in California's efforts to achieve carbon neutrality by 2045. CRC's CEO, Francisco Leon, emphasized the project’s potential to enhance economic opportunities while addressing emissions. The project aligns with California's leadership in sustainable energy solutions and has received support from state officials for its role in combating climate change. Additionally, Carbon Done Right Developments has completed validation for a reforestation-based carbon credit project in Sierra Leone, expanding its capacity in the carbon market.