Enhance Energy
Carbon management solutions using CO2 for enhanced oil recovery (EOR), reducing industrial emissions and stimulating economic growth.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $5.0m | Grant | |
| Total Funding | 000k | ||
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Enhance Energy is a carbon management company based in Alberta, Canada, focused on reducing industrial carbon dioxide (CO2) emissions. The company utilizes a process known as Carbon Capture, Utilization, and Storage (CCUS), with a specific application in CO2 Enhanced Oil Recovery (EOR).
The firm's business model involves capturing CO2 from industrial sources, such as power generation, steel, cement, and chemical manufacturing, and then using these captured emissions in the oil recovery process. This method serves a dual purpose: it permanently sequesters CO2 underground, preventing it from entering the atmosphere, while simultaneously increasing energy production. The revenue generated from this increased production helps to finance the development of CO2 management infrastructure.
As of August 2022, Enhance Energy has sequestered over 3 million tonnes of CO2 in Central Alberta. The company manages the entire lifecycle of its projects, from initial planning and design to the implementation and operation of large-scale carbon capture and utilization systems.
Keywords: Carbon Management, CO2 Sequestration, Enhanced Oil Recovery, CCUS, Emissions Reduction, Carbon Capture, Industrial Decarbonization, EOR, Alberta Energy, Clean Technology