FPX Nickel creates new subsidiary focused on carbon capture and storage

FPX will retain 100% of the carbon credits associated with CCS on its own properties, and will retain a right to use any intellectual property developed by CO₂ Lock for FPX’s own properties.

CO₂ Lock will now proceed with an independent management team in developing carbon sequestration operations in geological settings worldwide with similarities to FPX’s Decar nickel district, building on five years of research conducted with partners, including the University of British Columbia and Natural Resources Canada.

“Since 2016, FPX has played a leading role in applying fundamental science to evaluate the potential for large-scale permanent CCS in brucite-rich serpentinized peridotites, and we expect the launch of CO₂ Lock to greatly accelerate those efforts going forward,” Martin Turenne, FPX’s president and CEO, commented.

Since 2016, FPX has led research on technologies that maximize the reaction between CO₂ and…