THE WOODLANDS, Texas,
May 3, 2021 /PRNewswire/
-- TETRA Technologies, Inc. ("TETRA" or the "Company")
(NYSE:TTI) today announced that the Company has signed a memorandum
of understanding ("MOU") with CarbonFree, a global carbon capture
company with patented technologies that capture CO2 and
mineralize emissions to make commercial, carbon-negative
chemicals.
CarbonFree's SkyCycle™ is a second-generation
carbon mineralization technology that uses calcium chloride as a
key part of the conversion chemistry. TETRA is a global leader in
the production and chemistry for many commercial applications of
calcium chloride, so the Companies plan to use each other's
technical expertise, chemistry know-how, production, and supply
chain networks to jointly advance the commercialization of
SkyCycle™.
TETRA and CarbonFree have been collaborating since November 2020 and have been jointly sharing and
leveraging both Companies' technical resources and expertise as
CarbonFree continues to advance their carbon capture mineralization
pilot plant, processes, and technologies. During the one-year MOU
period, both Companies will work towards a definitive agreement
that might include investments by TETRA into CarbonFree, a joint
venture, or other commercial arrangements that will leverage each
Company's strength to advance this market-leading technology.
Brady Murphy, TETRA's president
and chief executive officer commented, "Because
SkyCycle™ produces a high quality, commercial mineral
from CO2 emissions, we believe there are many cost and
commercial advantages to this technology. We are pleased to partner
with CarbonFree and utilize our nearly 40 years of calcium chloride
chemistry, technical expertise, and global footprint. We believe
that by combining our efforts and expertise we can accelerate
SkyCycle™ for a rapidly growing carbon capture market
that requires innovative, scalable, and lower cost solutions. As
announced earlier this year, this is one of several initiatives
that TETRA is pursuing to leverage our global chemicals network,
technology, and mineral resources to enable TETRA's growth into low
carbon energy markets.
Martin Keighley, CarbonFree's
chief executive officer commented, "We're excited to formalize our
relationship and continue collaborating with TETRA, who is a
world-class player in the calcium chloride space. Having their
in-depth expertise will help us accelerate our expansion of
bringing SkyCycle™ to industrial plants across the
globe – which will mean getting to a net-zero planet faster."
TETRA Overview
TETRA Technologies, Inc. is a geographically diversified oil and
gas services company, focused on completion fluids and associated
products and services, water management, frac flowback, and
production well testing. TETRA owns an 11% equity
interest in CSI Compressco LP (NASDAQ: CCLP) and approximately 1%
equity interest in Standard Lithium (TSXV: SLL).
CarbonFree Overview
CarbonFree is a private company focused on advancing the
net-zero ambitions of both CO2 emitters and consumers of
carbon-negative chemicals. CarbonFree invested 15 years into
research and development to prepare to bring a technology to
carbon-emitting plants around the world called
SkyCycle™. This on-site solution mineralizes
CO2 captured from the plant and creates products for
sale or safe storage, such as calcium carbonate (PCC &
limestone); sodium bicarbonate (baking soda); and Hydrochloric Acid
(HCl). Learn more at carbonfree.cc or follow us on Twitter and
LinkedIn.
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SOURCE TETRA Technologies, Inc.