Vault 44.01 (Vault) and Cardinal Ethanol, LLC (Cardinal) have formed a joint venture (JV) to design, implement, and operate commercial Class VI carbon dioxide (CO2) sequestration project. The name of this JV is One Carbon Partnership, LP (OCP). The Cardinal plant is an ethanol production facility located in Randolph County, Indiana that began operations in 2008. Vault is a multi-national Carbon Capture and Sequestration (CCS) project development company.

Cardinal produces approximately 140 million gallons of ethanol per year. This ethanol is produced from the corn fermentation process. A natural byproduct of this process is CO2. Cardinal produces approximately 420 metric kilotons (kt) of CO2 per year, with an anticipated expanded volume of ethanol production that would equate to approximately 450 kt of CO2 per year. The objective of this project is to sequester the full anticipated volume of up to 450 kt of CO2 per year.

Based on the maximum anticipated annual volume of 450 kt of CO2 per year over a period of 12- years (5.4 MMT of CO2) to 30-years (13.5 MMT of CO2), the total mass of injected CO2 is anticipated to range from 5.4-13.5 MMT, respectively.