At CarbonCapture, we're laser-focused on achieving several key success factors that will enable us to become a profitable DAC company. First, we have to be deeply committed to materials science, as we have for the last couple of years. In particular, we've been working with partners, including W.L. Gore & Associates, to develop and deploy cutting-edge structured sorbents. Second, we have recently debuted our full-scale commercial Leo Series modules and announced progress on our advanced manufacturing facility in Arizona, with module production starting in Q4 of this year. Third, we're focused on deploying our DAC technology in locations where we're sure to obtain affordable clean energy as well as carbon transport and storage infrastructure.
Despite the progress we've experienced in materials science and our manufacturing breakthroughs, we've been finding it difficult to deal with some of the challenges around deployment. Among other critical external issues, we've seen growing competition for clean power amongst industries that are emerging much faster than anybody would have ever predicted. This has acutely affected our efforts in Wyoming, and as a result, we've decided to pause our development of Project Bison and to relocate the deployment of our first-of-a-kind (FOAK) project outside the state.
We have no doubt that Wyoming will continue to build out clean energy infrastructure, but to reduce our short-term risks, we need to focus on a site where we can more quickly deploy our technology alongside robust shared infrastructure.
I want to truly thank our partners in Wyoming, including our Community Engagement Council, Governor Gordon's office, and the University of Wyoming for their support of this industry and their collaboration, not to mention the welcoming communities of Rock Springs and Green River. Their support for this work has been fantastic.
Last, we want to thank our Project Bison storage partner, Frontier Carbon Solutions. From the outset of our partnership, Frontier has shared in our commitment to making commercial CCS a reality, and Frontier will continue to provide world-class open storage to support carbon management to emitters across the Mountain West. Frontier's accomplishments in the last two years—including securing the first three Class VI permits issued by the Wyoming Department of Environmental Quality—reinforces our confidence that Wyoming is positioned to be a long-term champion for the carbon management industry.
We know that CarbonCapture is not the only company that's facing challenges, and I really applaud the fact that some of our peers in this space have been transparent and open with the challenges that they've also been having when it comes to deployment. We're really proud to be part of an industry that acts that way.
What we're trying to do is collaborate with partners that share our values to deliver a successful project. To that end, we have multiple programs and options that we're pursuing, and we intend to announce where our specific FOAK project will be in the coming months. We're also deeply thankful to our early buyers who are investing in this industry long-term.
Most importantly, we remain absolutely committed to doing our part in developing and deploying innovative solutions to one of the greatest challenges of our time.
- Adrian Corless, CEO of CarbonCapture Inc.
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