Press Room

OGCI Climate Investments Leads Series A Funding for KeyState’s Pennsylvania Project

KeyState Energy is happy to announce the investment of OGCI CI, a specialist decarbonization investor, in KeyState Natural Gas Synthesis (KeyState PA), a modern, industrial-scale facility in Pennsylvania that will utilize carbon capture and storage in the production of low carbon, energy transition products.

“KeyState PA’s low carbon hydrogen fuel, ammonia, and diesel exhaust treatment will displace conventional, higher carbon products. This is a leap forward in the energy and emissions transition.” Said Perry Babb, KeyState PA’s CEO.

KeyState PA’s 95%+ CO2-Free Hydrogen emits no harmful emissions when used in fuel cell trucks and will displace 36 million gallons of diesel fuel per year. Additionally, KeyState PA’s diesel exhaust treatment will eliminate 90% of smog-forming NOx and particulate matter emissions from up to 8 billion gallons of diesel fuel per year.

By using advanced auto thermal reforming (ATR) technology in conjunction with carbon capture and storage (CCS), KeyState will capture and store 300,000+ tons of CO2 per year. Betty Pun, Technology Principal, Process Engineering and Carbon Capture at OGCI Climate Investments, said. “Not only does the project deliver emissions reductions directly, but we also see a role for KeyState PA as a catalyst for CCS hub development in the region.”

OGCI CI’s investment in the project will be used to deliver pre-front end engineering and design (pre-FEED) activities for the natural gas synthesis plant and characterization of storage resources. These activities are intended to support the project ahead of further investment by additional partners at the FEED stage and beyond.

 

About OGCI Climate Investments

OGCI Climate Investments was formed by the Oil & Gas Climate Initiative, established by 12 oil & gas majors that account for around 30% of global operated production. OGCI aims to lead the industry’s response to climate change through action and independently managed investments.

Climate Investments is a $1bn+ decarbonization investor. We seek to accelerate GHG reduction at scale by working closely with OGCI members, governments, customers and co-investors to maximize the global implementation of low-carbon solutions and impact. We provide capital across the business lifecycle from the catalytic phase of technology and commercial validation through to scaling our investments’ sector and geographic coverage. We have invested in 29 technologies and projects since 2017.

Among our investment activities, we manage our Catalyst Fund I, and we are an investor in China Climate Investments. Both funds invest in solutions to decarbonize under-invested GHG-intensive sectors within energy, industry, built environments/buildings and transportation. Climate Investments targets solutions that deliver near-term GHG impact in three areas: reducing methane, reducing carbon dioxide emissions and recycling or storing carbon dioxide.

About KeyState Natural Gas Synthesis

KeyState Natural Gas Synthesis is a joint venture of KeyState, LLC/Developer and Frontier Natural Resources, Inc./Gas Supply & Geological Storage, and was born out of the dilemma of how to utilize a 7,000 acre, Northern Pennsylvania, stranded gas asset. The story actually began long before this with the vision of Dr. Forney (Fred) & Mary Winner in the 1970s to begin to assemble small parcels of land with the goal of creating commerce and jobs for this impoverished, remote region. Mary Winner, now in her 90s, says, “I am alive to fulfill my husband’s vision.” KeyState PA will create hundreds of construction and long-term high-value jobs, hundreds of millions of dollars of annual local economic activity, and release a new industry for rural Appalachia, fulfilling and exceeding Fred and Mary’s vision.