Project Canary and BKV Corporation Collaborate on CCUS Monitoring & Reporting

DENVER, Oct. 10, 2023 /PRNewswire/ -- Project Canary, an enterprise emissions data platform that helps energy leaders identify, measure, understand, and act to reduce GHG emissions, today announced an expansion of its partnership with BKV Corporation to perform carbon assessment, monitoring, and reporting of their Barnett Zero project, BKV's first high concentration CCUS project.

As part of the partnership, Project Canary will deploy its Digital Monitoring, Reporting, and Verification (dMRV) platform SENSE CCUS, which collects, measures, and provides visual analytics for emissions data across the CCUS value chain. Building on the Canary SENSE emissions data platform, SENSE CCUS will provide real-time emissions-driven operational insights, monitoring, and data-driven reporting. The SENSE CCUS platform allows operators to efficiently manage their emissions and to comply with regulatory MRV and voluntary carbon market needs. The Barnett Zero project will also undergo a Canary Assessment to evaluate performance against industry-established best practices. Data from across BKV's Barnett Zero project will be collected, analyzed, and visualized using Project Canary's dMRV solution, then sent to third-party specialists ("VVB") for separate verification before being transmitted to carbon registries for carbon credit issuance.

This collaboration marks a significant milestone in advancing transparent, data-driven CCUS operations. BKV has successfully drilled an injection well and expects the Barnett Zero project to achieve an average sequestration rate of up to approximately 210,000 metric tons of CO2 per year, with the first injection expected by December 2023.

"The future of the low-carbon energy sector is moving to more granular and accurate measurement," said Nayeem Chowdhury, Head of CCUS at Project Canary. "We're excited to work with BKV to usher in a new era of real-time carbon measurement for the rapidly-scaling CCUS industry, leveraging high-frequency operational data to drive traceability from Project Canary's designed-for-purpose CCUS solutions."

Project Canary's Environmental Risk Assessments will evaluate the CCUS value chain, from capture to transport to sequestration. The holistic assessments will provide granular visibility into the Barnett Zero project's performance for communities, financial markets, and regulators.

"As the CCUS landscape continues to evolve, this collaboration will pave the way towards a transparent approach to carbon sequestration and bolster trust in the process," said Chris Kalnin, Chief Executive Officer of BKV. "We're proud to continue our partnership with Project Canary to drive our sustainability goals. Together, we hope to model responsible carbon management principles."

About Project Canary
Project Canary is a climate technology company that offers an enterprise emissions data platform that helps companies identify, measure, understand, and act to reduce emissions across the energy value chain. Given its outsized impact, the Company started with methane and has since expanded to other greenhouse gasses. Project Canary's mission is to Measure It – leveraging sophisticated software solutions to help companies improve and report on their emissions footprint. They do this by building high-fidelity sensors, ingesting data from various other technologies and sources, characterizing the accuracy of such emissions data, and deploying advanced physics-based AI-powered models to identify leaks and quantify emissions. www.projectcanary.com

About BKV Corporation
Headquartered in Denver, Colorado, BKV is a privately held, forward-thinking, growth-driven, energy company focused on creating value for our stockholders. BKV's core business is to produce natural gas from its owned and operated upstream businesses, which BKV expects to achieve net zero Scope 1 and Scope 2 emissions by the end of 2025. Founded in 2015, BKV has approximately 370 employees across the U.S. that are committed to building a different kind of energy company. BKV is one of the top 20 gas-weighted natural gas producers in the United States and the largest natural gas producer in the Barnett Shale. BKV Corporation is the parent company for the BKV family of companies. For more information, visit www.bkv.com.

Contacts:
Diana Kaul, Project Canary
303.332.4252
[email protected]

Becky Escott, BKV Corporation
817.757.2668
[email protected]

SOURCE Project Canary