GRAND ISLAND, Neb. & HOUSTON--(BUSINESS WIRE)--Chief Industries, Inc. (“Chief”) and Catahoula Resources (“Catahoula”) have entered into an agreement to jointly develop carbon capture and permanent sequestration (“CCS”) within Nebraska.
Through this arrangement, Chief Ethanol, a division of Chief Industries, Inc. based in Hastings, NE, joins forces with Catahoula, a portfolio company of private investment firm The Energy and Minerals Group (“EMG”), one of the largest investors in midstream infrastructure in North America and a proven leader in identifying, developing and executing world-class design/build/operate capabilities for midstream assets.
Catahoula and Chief are currently evaluating CCS infrastructure investments that will enhance the sustainability and improve the economics of ethanol production through low-cost carbon storage within Nebraska. Work has already begun to evaluate favorable storage geology through Catahoula’s joint development arrangement with Battelle.
“The passage of LB650 shows that Nebraska is serious about our global environment. Allowing for the geologic storage of carbon dioxide will truly benefit the citizens and industries within our state,” said Chief Industries, Inc. CEO, DJ Eihusen. “Chief is excited to be teaming up with a group such as Catahoula. Their expertise and knowledge in this space leaves us encouraged that Chief Industries, Inc. will continue to provide a lasting and positive environmental impact.”
“We see Nebraska’s forward-thinking support of carbon dioxide sequestration as a springboard for differentiating Nebraska’s ethanol industry and we are excited to expand upon this vision by aligning with Chief--a strong, deeply rooted, family-owned company. The use of proven carbon capture infrastructure targeting nearby, low-cost storage is a compelling plan for investment in the local economies of Nebraska,” said Jeff Rawls, CEO of Catahoula Resources.
About Chief
Chief Industries, Inc. is a multi-faceted, family-owned company with corporate offices in Grand Island, NE. They have many divisions and subsidiaries located around the globe including construction, electrical contracting, metal building systems and structural steel, agricultural and grain storage facilities, a truck fleet, contract manufacturing, prefabricated homes, and ethanol. For additional information, please visit www.chiefind.com or contact Beth Frerichs at beth.frerichs@chiefind.com.
About Catahoula Resources
Catahoula’s leadership team has more than 150 years of midstream experience with proven success identifying, developing and executing world class design-build-operate midstream assets. Bringing extensive CO2 technical, operations, project execution and commercial experience with a commitment to safety, compliance, and environmental stewardship Catahoula is focused on providing customer solutions and partnering with industrial participants. For additional information, please visit www.CatahoulaResources.com.
About The Energy & Minerals Group
EMG is a private investment firm with Regulatory Assets Under Management of approximately $12 billion. EMG targets equity investments of $150 million to $1 billion in the energy and minerals sectors with talented, experienced management teams, focused on hard assets that are integral to existing and growing markets. For additional information, please visit www.emgtx.com.
