Oracle announces up to $1 million for carbon capture and sequestration in New Mexico

SANTA TERESA, New Mexico (KVIA) -- Oracle announced Tuesday that up to $1 million in funding to support research into the potential for carbon capture and sequestration (CCS) at Project Jupiter and across New Mexico.

Oracle officials say the research will examine how carbon dioxide associated with Bloom Energy fuel cells could be captured safely and efficiently, create a pathway for permanent storage, and develop a viable commercial model for transportation and potential industrial use.

“Oracle is focused on powering Project Jupiter responsibly and reducing its emissions over time,” said Mahesh Thiagarajan, executive vice president, Oracle Cloud Infrastructure. “CCS is one of the ways that we can address the emissions from fuel cells and we need that expertise to help chart a course. Our goal is to achieve 100% carbon-free energy matching for Project Jupiter by 2031 and meet New Mexico’s Energy Transition Act goals before 2045.* This research will help us rigorously evaluate how CCS could help reduce emissions and further advance our water positivity goals.”

Oracle mentioned that the grant will support research by qualified academic institutions, nonprofit organizations, and other research partners with expertise in carbon capture, energy systems, geology, environmental policy, economics, or related fields.

Officials with Oracle say research will focus on the technical, environmental, regulatory, and economic considerations associated with CCS, including the possibility of carbon capture at the Project Jupiter site and the potential for permanent geologic storage in New Mexico.

Oracle says the investment in new carbon-free energy generation builds on its commitment to responsible growth in New Mexico, including $50 million to help repair, upgrade, and improve local water systems.