Calpine’s Sutter Decarbonization Project Utilizing ION Clean Energy’s Carbon Capture Technology Executes Cost Share Agreement with DOE

Yesterday, Calpine announced that it has executed a cost share agreement with the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) for the Sutter Decarbonization Project, a full-scale carbon capture demonstration project at its Sutter Energy Center. The Sutter Decarbonization Project features ION Clean Energy’s carbon capture technology and is designed to capture 95% of existing carbon dioxide emissions enabling the Sutter Energy Center to produce firm, dispatchable, low-carbon electricity. Calpine will now commence the first phase of the DOE cooperative agreement, with other phases to follow upon successful completion of Phase 1 and finalization of plans for subsequent phases.

“We’re excited for the Sutter Decarbonization Project to get to this point and grateful for the partnership with Calpine and the DOE and the confidence they’ve shown in both our team and our technology,” said Tim Vail, ION’s Chief Executive Officer.

“Our relationship with Calpine and the Sutter Decarbonization Project are hugely important to ION,” added Vail. “Since Dr. Buz Brown founded the company, we’ve always believed our science is a differentiator. We’ve proven the performance of our technology time and again at pilots from the National Carbon Capture Center in Alabama to Technology Centre Mongstad in Norway. By deploying it on a commercial scale we can showcase they key role that ION’s technology can play in decarbonizing our energy infrastructure.”

The Sutter Decarbonization Project will capture up to 1.75 million metric tons of CO₂ per year. Calpine is excited to work with ION’s technology because of its demonstrated high capture efficiency, solvent stability, low emissions and low energy use. Additionally, ION recently announced a $45 million round of Series A financing with Chevron New Energies and Carbon Direct Capital and the arrival of President & CFO Steve Hirsh, Chief Operating Officer Ben Gurtler and VP, Human Resources Jeannie Donovan.

About ION Clean Energy, Inc.

ION was founded in 2008 in Boulder, Colorado and is a worldwide leader in carbon dioxide capture technologies that reduce overall costs and make CO₂ capture a more viable option for greenhouse gas mitigation. The company is commercializing proprietary liquid absorbent process technology that demonstrates transformational performance and is more effective and cost efficient than current commercial solutions to capture CO₂ emissions from post-combustion utility and industrial point sources. Most significantly, ION’s technology can capture more than 95% of CO₂ emissions with extremely low emissions, unprecedented solvent stability, and low energy requirements. www.ioncleanenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240808926398/en/