Proton Green Announces Partnership With Lone Cypress
Proton Green advances strategic growth plans through partnership with specialized energy infrastructure developer Lone Cypress Energy Services
HOUSTON–(BUSINESS WIRE)–Proton Green, LLC (“Proton Green” or the “Company”), the operator of one of the leading helium and hydrogen production and carbon sequestration hubs in North America, today announced a partnership with Lone Cypress Energy Services (“Lone Cypress”), an independent energy company focused on the engineering, construction, and operation of energy infrastructure. The partnership was formed as the two leading companies are collectively launching a first of its kind helium exploration and carbon capture and storage project in the Southwestern United States.
The project will focus on the gaseous helium produced from Proton Green’s St. Johns gas unit, which was acquired in late 2021. The St. Johns unit is located in Apache County Arizona, atop one of the largest gaseous helium reserves in North America, with an estimated 33 Bcf of helium in accessible reservoirs. Notably, helium produced from the region contains no hydrocarbons.
Lone Cypress will be responsible for the construction and operation of all the associated midstream gathering and processing infrastructure from Proton Green’s helium-rich reservoir in the St. Johns field. The Company believes that the helium produced at St. Johns is likely to be sold through direct offtake agreements with customers. Lone Cypress Energy Services will also perform all the engineering and technological solutions needed to support the capture and transport of carbon dioxide (CO2) produced during the helium production process as well as emissions from power plants and industrial facilities in the neighboring vicinity. These emissions will be geologically sequestered, contingent on the requisite permitting being granted, in an isolated formation within the St. Johns Gas Unit with upwards of 1 billion metric tons of storage capacity.
Steve Looper, Chief Executive Officer of Proton Green, LLC commented, “We are extremely proud to be working with a leader in the energy transition field. Lone Cypress is a leader in the development and operation of infrastructure across the entire energy value chain. Their support is a validation of the efficacy of our carbon sequestration projects and marks positive steps for our growth trajectory. We are excited about the progress we have made, and we look forward to continued successes and growth as we expand our capabilities in the fields of helium production and carbon sequestration and emerge as a leading energy transition growth platform.”
About Proton Green, LLC
Proton Green LLC, is poised to become one of the leading North American producers of helium and hydrogen, while also building out its position as one of the leading carbon sequestration operators in North America. With operating control over the St. Johns Field, a 152,000 acre property in Apache Country, Arizona, the Company controls a massive helium reservoir and carbon storage basin. Helium remains in short supply and is used to cool magnets in MRI systems, as the temperate of silicon during semiconductor manufacturing, for space and satellite system applications, as well as in many other critical technologies. Carbon capture and sequestration is fast becoming a climate imperative, and the Company has the ability to inject up to 22 million metric tons of CO2 per year at its primary basin, and over one billion tons of total storage capacity.
About Lone Cypress Energy Services
Lone Cypress Energy Services, LLC is an independent energy company focused on the development and operation of infrastructure across the entire energy value chain. Headquartered in Tulsa, OK, Lone Cypress offers a full suite of technology-enabled solutions including project management, EPC contracting, and asset operations. Lone Cypress specializes in the development of hydrogen generation and distribution projects, waste to energy plant solutions, and traditional oil and gas midstream facilities. The senior leadership team is anchored by technical professionals with over 100 years of combined execution experience. For more information, please visit www.lonecypressenergyservices.com.
Contacts
Media & Investors:
Alpha IR Group
Joe Caminiti or Samuel Cohen
312-445-2870
PROT@alpha-ir.com
