Mizuho Bank invests in Bison CCS in Alberta

Apr 15 2024

Bison Low Carbon Ventures will use the funds to further develop its CCS projects which will capture and store CO2 from Albert's industrial heartlands.

Mizuho is Japan's third largest bank and is investing to support the implementation and deployment of CCS technology through their newly established Transition Investment Facility. Through this facility Mizuho has begun committing equity investments towards seed or early-stage corporations. Mizuho Bank said it aims to co-create value and contribute to the sustainability of the environment, in part through the development of Bison's CCS projects in Alberta.

Bison is the developer of two evaluation phase Hub tenures being progressed towards regulatory approval and commercial deployment. The Meadowbrook CCS Hub Project (MCSH), one of the projects being developed by Bison, is located near Edmonton, Alberta, and aims to develop a world-scale storage operation of 3 million tons of CO2 per annum. Detailed geological evaluation has been completed and a sequestration application has been submitted with potential to begin storage operations as early as mid-2025, subject to receipt of all necessary approvals. The project will scale to full capacity as market demand for sequestration services develops.

The MCSH Project is expected to transport and store CO2 emitted from the Alberta Industrial Heartland region and industries within its proximity, thus contributing to Canada's and Alberta's 2050 carbon neutral goal and in support of both new emission sensitive and existing hard to abate industries reaching their decarbonisation targets. Through its relationship with Bison, Mizuho will also participate in the North Drumheller CCS Project and other Bison-developed energy transition initiatives.

Bison Low Carbon Ventures

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Issue 98 - Mar - Apr 2024

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