Carbon TerraVault Provides Third Quarter 2026 Update
Globe Newswire•02/11/2026•16:31 ET
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Key Highlights
- ➤Bloom Energy MOU targets 1 GW or more of California decarbonized power
- ➤New EPA Class VI application adds ~57 million metric tons storage
- ➤Total submitted CO₂ permit volumes increase to ~409 million metric tons
- ➤CTV I generates revenue from permanent CO₂ storage injections
- ➤Crimson acquisition adds potential CO₂ pipeline connectivity across California
- ➤4Q26E capital investments guided at $0-$2 million
Expert Statements
Francisco Leon, President and Chief Executive Officer of California Resources Corporation
“We are advancing our CTV platform and today’s MOU with Bloom opens new pathways to create value. We are focused on expanding our carbon storage portfolio through alliances like this to accelerate commercialization of CCS”
Francisco Leon, President and Chief Executive Officer of California Resources Corporation
“In addition, we recently submitted a new EPA Class VI permit application bringing total submitted permit volumes to more than 400 million metric tons. This complements the potential long-term CO₂ transportation optionality created through our recently closed Crimson acquisition. We believe CTV is positioned to create lasting value for shareholders and California communities.”
Announced MOU with Bloom Energy to Advance 1 GW or More of Decarbonized Power in California
Submitted a New EPA Class VI Permit Application for ~57 Million Metric Tons of Storage Volume
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