FCX Nickel Ltd., a subsidiary of FPX Nickel Corp., recently announced the closing of a C$1.1 million financing to support its Standalone Carbon Capture and Storage (CCS) project in British Columbia. In addition, the company provided a technical update on its project and stressed the importance of CCS in decarbonizing the environment.
FCX Nickel has secured C$1.1 million in non-dilutive financing from the Government of British Columbia’s Innovative Clean Energy (ICE) Fund, which will support the construction of its Standalone CCS facility. The CCS project is a crucial part of the company’s plan to reduce emissions and become a leader in sustainable energy.
The Standalone CCS facility is located in northeast British Columbia, near the company’s producing mining projects. The facility will capture and store carbon dioxide emissions from industrial operations and convert them into valuable products. FCX Nickel is currently developing methods to increase the efficiency and scalability of the project, which may eventually become an audio-visual attraction.
In addition to the completion of the C$1.1 million financing, FCX Nickel has revealed a series of operational advances that have brought the Standalone CCS project one step closer to completion. The company has already completed the site selection and preparatory civil and environmental work, including the installation of a power line and multiple monitoring sites. FCX Nickel is currently engaged in seismic analysis and conducting further engineering evaluations and discussions.
The Standalone CCS project is a major move towards decarbonizing the environment, and is an integral step in FCX Nickel’s mission to become the world’s greenest mining company. Through this project, the company is committed to reducing emissions and pave the way for a cleaner, greener future. With the support of the Government of British Columbia and other partners, FCX Nickel is hopeful that the CCS project will be operational by the end of 2021.
