Foss & Company is committed to, through its Renewable Energy and Sustainable Technologies group, preserving and improving our environment. Over the past several years we have been expanding our role as a financing resource for renewable energy projects to include partnering with well-established environmental research, technology and development leaders to explore the development of carbon capture facilities in order to reduce the amount of C02 emitted into the atmosphere from anthropogenic sources. Over the next several years we will aggressively pursue the development of carbon capture and sequestration facilities throughout the United States.
Carbon capture is the process of capturing waste carbon dioxide from industrial sources. Geological sequestration of carbon is primarily the process of storing carbon oxides by injecting them into underground geological formations. Together, these technologies can reduce greenhouse gas emissions from industrial sources.
Globally we are facing a climate crisis that threatens to fundamentally change the world in which we currently live. While there is great debate over the causes of the crisis and where it will lead us, we do know that releasing less carbon dioxide from anthropogenic (human made) sources will greatly slow the damage caused by green house gasses.
Foss & Company is taking a leading role in the financing and development of carbon capture facilities. Foss & Company has partnered with a leading research and technology development company to identify the most attractive emission sites to build carbon capture and sequestration facilities in the US. The financing for these projects will be generated, in part, from the monetization of production tax credits authorized under Section 45Q of the Internal Revenue Code. These tax credits, which offer a dollar-for-dollar reduction of a taxpayer’s federal tax liability, are anticipated to generate over a 12 year period from the date the capture facility is placed into service. The credit is in recognition of the need to subsidize an activity that has tremendous social benefit but which may not be currently profitable.