Japan's Mizuho Bank invests $3.6mn in Canadian CCS company
SUMMARY
Bison Low Carbon Ventures is working on two CCS projects in Alberta.
By Shardul SharmaBison Low Carbon Ventures, an Alberta-based developer of carbon capture and storage (CCS) projects, on April 10 said that Japan's Mizuho Bank has invested C$5mn ($3.64mn) in the company.
The investment will be used to accelerate the development of Bison's CCS projects in Alberta. This aligns with Mizuho's commitment to sustainability through its newly established Transition Investment Facility, Bison said.
Bison is currently progressing two CCS projects towards regulatory approval and commercialisation. The Meadowbrook CCS project, located near Edmonton, Alberta, aims to capture and store up to 3mn tonnes/year of CO2. With detailed geological evaluations completed and a sequestration application submitted, the project has the potential to begin operations as early as mid-2025, pending necessary approvals. This project will primarily target capturing emissions from the Alberta Industrial Heartland region.
Mizuho will also participate in Bison's North Drumheller CCS project and other future clean energy initiatives developed by the company.
