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Navigator receives approval to proceed with Heartland Greenway system

IARN — Late last week, Navigator CO2 Ventures LLC (“Navigator”) announced that, as a result of commitments received during its binding open season, it has obtained the necessary board approvals to proceed with its proposed carbon capture pipeline system, the Heartland Greenway. Navigator is evaluating multiple opportunities based upon the substantial market reception to the project in order to expand the Heartland Greenway’s available capacity and add service offerings for the benefit of its current and future customers. Having successfully reached the initial approval phase, Navigator has commenced the process to obtain all the necessary permits to construct the Heartland Greenway and start initial system commissioning during late 2024 and into early 2025.

“The Heartland Greenway is the first substantial, fully integrated CO2 handling system to reach a final investment decision, and we could not be more excited for the path ahead for all stakeholders,” Navigator CEO Matt Vining said. “It is a great privilege and responsibility to help pave the way for large scale infrastructure projects designed to reduce greenhouse gas emissions in a material way. We are thankful for the opportunity to serve our customers and investors who have entrusted us with the task ahead.”

In addition to the initial Heartland Greenway build out, Navigator is actively creating incremental capability to allow its customers to maximize the value of their commercial participation. Navigator will be creating an affiliated marketing company to assist customers with tracking emissions and monetizing their environmental attributes. This will enable Navigator customers to benefit from the centralized scale and analytics of the Heartland Greenway. Navigator is also in discussions with multiple parties that consume CO2 who would desire delivery interconnection points to provide a ratable, consistent source for CO2 acquisition.

“In addition to providing best-in-class service for our customers, designing and constructing a multi-dimensional system that opens up new markets is key for our customers’ ability to maximize value,” Vining said. “This is the first inning of a long game, and we are 100% aligned with our customers’ focus on executing a highly scalable platform that can respond to increasing customer demand and industry change.”

The Heartland Greenway’s first phase is projected to commence initial service in early 2025 and span approximately 1,300 miles across five Midwest states to nearly 20 receipt points. In parallel, multiple permanent sequestration locations are being actively developed in south-central Illinois, where the project will utilize specific intervals of the well understood Mt. Simon formation for the safe, permanent sequestration of its CO2. This combined scope will enable Heartland Greenway to transport and sequester up to 15 million metric tons per year once fully expanded.

Navigator’s current and future customers for the system include many rural value-added ag processors from the ethanol and fertilizer industries. The Navigator management team looks forward to continuing its multi-year commercial partnership with Valero Energy Corporation as the anchor customer of the system.

Navigator previously announced on July 15 that it had entered into contracts with two industry-leading companies to execute the sequestration site development on behalf of the Heartland Greenway. Work being performed by affiliates of Tenaska, Inc. and Advanced Resources International (ARI) is well underway and positions the Heartland Greenway to submit its EPA Class VI permit applications on an accelerated basis in the near future.

Navigator values the rural industries and landscapes that the Heartland Greenway will influence, and looks forward to building strong, long-standing partnerships with landowners and local regulators. The company will hold a series of public meetings across the project’s footprint in late 2021 and early 2022. Virtual participation will be offered to provide maximum input from stakeholders and interested parties.

Story courtesy of the Iowa Agribusiness Radio Network.

Image Courtesy of Navigator CO2 Ventures LLC.

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