Cowboy Clean Fuels Announces Partnership with Puro.earth to Generate CO2 Removal Certificates

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Jun 01, 2023, 14:12 ET

The Carbon Dioxide Removal Credits will be Listed on Puro.earth's Highly Trusted and Reputable Crediting Platform

DENVER, June 1, 2023 /PRNewswire/ -- Cowboy Clean Fuels, LLC ("we," "us," "our," or "the Company"), a premier energy technology company formed to produce carbon-negative, renewable natural gas ("RNG") from readily available agricultural byproducts utilizing proprietary, patented technology, today announced that Puro.earth, the world's leading crediting platform for engineered carbon removal, will verify and issue CO₂ Removal Certificates ("CORCs") for carbon dioxide removed from the atmosphere as a result of Cowboy Clean Fuels' operations at its first commercial project in Wyoming. Puro.earth has reviewed the Cowboy Clean Fuels' process and believes it will meet the requirements set in the Geologically Stored Carbon Methodology, which covers activities where CO₂ is captured from the atmosphere and stored permanently into deep geological formations, and results in Net CO₂ Removal impact (see https://puro.earth/carbon-removal-methods/ for more details on the Methodology). The Company also announced that its first listing of removal credits will be on the Puro.earth digital trading crediting platform once verification of its facility and production is completed. This allows Cowboy Clean Fuels to make carbon dioxide removal ("CDR") credits available to corporate buyers who want to reduce their impact on the climate by purchasing credits that represent actual, permanent removal of carbon dioxide from the atmosphere.

Jason Gaines, Cowboy Clean Fuels President and Chief Operations Officer stated, "The recognition by Puro.earth of the carbon sequestered using our proprietary and proven technology as carbon removal with deep geologic sequestration is a large step in proving the value of the credits that we generate. More than ever, we see the market differentiating between carbon removal from carbon offsets. We are delighted to offer a permanent carbon removal process and view our technology as offering the most durable carbon removal on the planet today. Our process produces carbon-negative renewable natural gas through an energy-positive, carbon sequestration process and provides an opportunity to change the energy transition landscape. This year is shaping up to be a very exciting year for the company as we advance the first commercial implementation of the Cowboy technology on our assets in the Powder River Basin."

Antti Vihavainen, Co-Founder and Chief Executive Officer of Puro.earth stated, "We are delighted to welcome Cowboy Clean Fuels to the Puro.earth carbon removal supplier network. The team's innovative geological carbon sequestration process has the potential to be sustainably deployed at a commercial scale, and this scalability will be needed for carbon removal supply to meet ever-growing demand from corporate buyers in the voluntary carbon markets. The sheer volume of CORCs that Cowboy Clean Fuels can generate by permanently locking vast amounts of CO₂ underground will greatly bolster supply in the market and move the needle one step closer to reaching global net zero emissions."

ABOUT COWBOY CLEAN FUELS

Cowboy Clean Fuels is a Denver, Colorado-based emerging renewable energy technology company formed in 2020. Cowboy Clean Fuels' innovative, field-tested process utilizes non-producing Coal Bed Methane ("CBM") wells and infrastructure to produce renewable natural gas (RNG) from agricultural byproducts through a naturally-occurring biogenic process, similar to anaerobic digestion, that occurs in deep, geologic formations. Coincident with RNG production, the process results in permanent sequestration of CO₂ that was removed from the atmosphere in the same deep, geologic formations. The Company's proprietary and patented technology was developed by Cowboy Clean Fuels Co-Founder and Chief Technology Officer, Dr. Michael Urynowicz, Ph.D, at, and exclusively licensed from, the University of Wyoming's Center for Biogenic Natural Gas Research. The Company's world class leadership team has over 100 years of experience in clean energy technology commercialization, upstream gas operations, and large-scale energy project development.

ABOUT PURO.EARTH

Puro.earth is the world's leading carbon crediting platform for engineered carbon removal. Our mission is to mobilize the economy to reward carbon net-negative emissions by helping voluntary corporate buyers accelerate carbon dioxide removal at an industrial global scale. Through the Puro Standard we create carbon credit methodologies for processes that remove carbon dioxide from the atmosphere for at least 100 years. We then certify suppliers that run those processes and issue digital tradable CO2 Removal Certificates (CORCs) into the public Puro Registry per metric ton of carbon dioxide removed. CORCs are then purchased directly from suppliers or via sales channel partners by ambitious corporations like Microsoft, Shopify, and Zurich Insurance, to help reverse climate change and neutralize their residual carbon emissions. With Puro Accelerate, our program to scale the carbon removal ecosystem, we assist suppliers who require financing to launch or expand operations through CORC advance market commitments and prepayments. In 2021, Nasdaq acquired a majority stake in Puro.earth and together we are driving forward the carbon removal industry, via Puro Standard certified CORCs enabling new revenue streams to accelerate its growth. Visit us at https://puro.earth or on LinkedIn Puro.earth and Twitter@PuroCO2Removal.

MEDIA CONTACT

Noah Yates
Vice President – Finance and Strategy
(732) 608-3499
[email protected]

SOURCE Cowboy Clean Fuels