Lapis Carbon Solutions (“Lapis”), alongside its partner Big River Resources, LLC (“Big River Resources”), filed a Class VI application for a new Carbon Capture and Storage (CCS) project adjacent to Big River Resources’ Galva, Ill., ethanol facility.

The project will permanently sequester more than 725,000 metric tons of carbon dioxide per year over 12 years. This positions Big River to materially lower the carbon intensity of its products and compete as a market leader in the next generation of low-carbon fuels.

The announcement follows the successful completion of a stratigraphic test well that confirmed favorable geologic conditions for the safe and permanent storage of CO2.

The sequestered CO2 will qualify for federal tax credits under section 45Q of the Internal Revenue Code.

“Our partnership with Big River marks an expansion into the Midwest—a market where bespoke carbon solutions are needed now more than ever,” said Lapis CEO Reg Manhas. “This shows the expertise of our world-class team to find creative solutions that are customized to the needs of the emitter and of the local community.”

“This is an exciting development for Big River Resources and for Galva. With carbon capture and storage capabilities, we can extract more value from ethanol production,” said Big River Resources CEO Dave Zimmerman. “We can then return that value to our shareholders, our customers, and the communities where we operate.”

About Lapis Carbon Solutions

Lapis Carbon Solutions (“Lapis”) is a full-service carbon capture, utilization and storage (“CCUS”) developer and operator, providing customized solutions for emissions-intensive industry partners. Based in Dallas, Texas, the Lapis team is comprised of leading industry experts with multiple decades of technical, commercial and project experience. Lapis is backed by Cresta Fund Management, a Dallas-based private equity firm specializing in middle market sustainable infrastructure. Visit our website for more information about our company and our projects.

About Big River Resources, LLC

Big River Resources, LLC (“Big River Resources”) is a holding company with four subsidiaries: Big River Resources West Burlington, LLC; Big River Resources Galva, LLC; Big River Resources Grinnell, LLC; and Big River Resources Boyceville, LLC. These subsidiaries consist of ethanol facilities and grain elevator sites and are all located on either the Burlington Northern Railroad or Canadian National Railway. The company also has an investment in Absolute Energy, LLC and is a majority shareholder and managing company of Big River United Energy, LLC, a joint venture company in Dyersville, Iowa. Big River Resources has a 19-member board and employs 267 full-time team members.

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