11:04:55 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



VVC Exploration Corp
Symbol VVC
Shares Issued 572,681,815
Close 2023-08-09 C$ 0.075
Market Cap C$ 42,951,136
Recent Sedar Documents

VVC's investment co. Proton to lead SW DAC development

2023-08-18 09:25 ET - News Release

Mr. Terry Martell reports

VVC STRATEGIC INVESTMENT - PROTON GREEN - SELECTED FOR U.S. DEPARTMENT OF ENERGY GRANT TO DEVELOP SOUTHWEST REGIONAL DIRECT AIR CAPTURE HUB

Proton Green LLC, a strategic investment of VVC Exploration Corp., doing business as VVC Resources, has been chosen by the United States Department of Energy to lead the development of the Southwest Regional Direct Air Capture (DAC) Hub. This initiative, backed by an esteemed consortium of industry leaders, universities and organizations, has secured a substantial $11.6-million grant that underscores the promise of a cleaner, more sustainable future. Proton Green is a wholly owned subsidiary of Cyber App Solution Corp. VVC owns approximately 11.9 per cent of Cyber App Solution.

The Southwest Regional DAC Hub project is an integral part of the U.S. Department of Energy's groundbreaking Regional DAC Hubs program, aimed at expediting the establishment of a wide-reaching network of large-scale DAC carbon dioxide (CO2) removal sites across the nation. This initiative aligns with VVC's commitment to invest in projects fostering innovation and sustainable solutions within the energy sector.

Proton Green, a leading operator in the helium and beverage-grade CO2 market, will play an important role in facilitating the creation of a storage field development plan in conjunction with its consortium partners. This comprehensive plan will encompass diverse planning aspects, including engineering, infrastructure layout, operational intricacies and transportation logistics. The overarching goal is to pave the way for a multilocation DAC Hub capable of capturing over one million metric tonnes of CO2 annually from the atmosphere. This captured CO2 will be securely sequestered within Proton Green's St. Johns field basin and two additional locations, reflecting Proton Green's commitment to addressing carbon emissions on a significant scale.

"The Southwest Regional Direct Air Capture Hub is a pioneering endeavour that aligns perfectly with VVC's commitment to advancing sustainable technologies," said Terry Martell, chairman of VVC Resources. "In addition to the environmental benefits, the grant allows Proton Green to take a big step in developing its carbon capture business."

The DAC Hub will complement Proton Green's strategic vision for CO2 sequestration at its St. Johns dome asset, which is anticipated to serve as one of the multisite locations within the Southwest Hub. Furthermore, the hub's development holds the promise of fostering a renewable energy surge in a region marked by aging coal plants scheduled for retirement and expansive land with existing transmission capacity. This transition presents a unique opportunity to support local communities, generate tax revenue and pave the way for sustainable industrial growth.

About VVC Exploration Corp.

VVC engages in the exploration, development and management of natural resources -- specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel and the expanding green economy. The company's portfolio includes a diverse set of multiasset, high-growth projects, comprising: helium and industrial gas production in western U.S.; copper and associated metals operations in northern Mexico; and strategic investments in carbon sequestration and other green energy technologies.

About Proton Green LLC

Proton Green is a leading operator of one of the largest helium and beverage-grade CO2 hubs in North America. The company maintains exclusive production rights to the St. Johns field, a 170,500-acre property in Arizona with a 33-billion-cubic-foot helium reservoir, 517-billion-ton CO2 reservoir and a basin with the potential to store one billion metric tonnes of CO2. The company is currently one of the leading producers of helium in North America -- a high-demand gas in both consumer and critical technology applications -- leveraging strategic offtake partners with fixed-price agreements to drive a predictable revenue stream. Notably, both helium and CO2 produced at St. Johns field contain no hydrocarbon component.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.