Glossary

Colgate University Selects ClimeCo To Help Reduce Its Greenhouse Gas Emissions

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
CONTACT
Nancy Marshall, SVP, Marketing
+1 484.415.7603 or nmarshall@climeco.com

Colgate University Selects ClimeCo To Help Reduce Its Greenhouse Gas Emissions

by: Dustin Zimmer | September 27, 2023

BOYERTOWN, Pennsylvania (September 27, 2023) – As part of an ongoing commitment to carbon neutrality, Colgate University has chosen to offset 1,600 tonnes of its carbon footprint with nitrous oxide (N2O) abatement credits supplied by ClimeCo. These credits came from the Ascend Performance Materials Operations, LLC plant in Florida. This project is third-party verified and registered through the Climate Action Reserve (CAR) Registry. Students, staff, and faculty representatives decided to purchase these credits after receiving feedback from campus groups and individuals about the most critical carbon offset factors for the university community. Colgate committed to carbon neutrality in 2008 and, in April 2019, became the first institution of higher education in the State of New York to achieve carbon neutrality.

ClimeCo Senior Vice President for Greenhouse Gas (GHG) Markets, Linda Kelly, said, “The consultancy leading Colgate University’s selection process for carbon offset projects recognized the need to balance Colgate’s project choices with a high-quality and highly effective industrial emissions mitigation project like the Ascend Performance Materials N2O Abatement Project. We’re proud of ClimeCo’s leadership in this area and Colgate’s recognition of the quality and effectiveness of this project.”

Ascend Performance Materials Operations, LLC Plant in Florida

ClimeCo and Ascend Performance Materials have created the largest voluntary nitrous oxide abatement project in North America. N2O is a greenhouse gas with a global warming potential 265 times higher than carbon dioxide (CO2). Ascend’s GHG avoidance project destroys N2O at the source, permanently preventing the GHG from ever entering the atmosphere. Emission reduction assertions are backed by high-quality N2O concentration and flowrate data that are collected by a continuous emission monitoring system.

To achieve carbon neutrality, Colgate University offset its remaining on-campus carbon emissions by investing in off-campus carbon reduction projects, like those supported by ClimeCo, so that its net carbon footprint is zero. The balance between decarbonizing industry and restoring nature was also considered, as 1,000 tonnes of carbon credits were purchased from a grasslands preservation project in Colorado.

ClimeCo strongly believes there should be a comprehensive approach to combat climate change. For more information, read our Transparency In Developing Carbon Credits editorial series highlighting the importance of Nature-Based Solutions and Industrial Projects in a harmonized sustainability portfolio.

To purchase or learn more about high-quality industrial credits from the Ascend N2O abatement project, please contact Linda Kelly at lkelly@climeco.com.

About Colgate University

Colgate University is a private liberal arts college that was founded in 1819. Colgate’s mission is to provide a demanding, expansive, educational experience to a select group of diverse, talented, intellectually sophisticated students who are capable of challenging themselves, their peers, and their teachers in a setting that brings together living and learning. The purpose of the university is to develop wise, thoughtful, critical thinkers and perceptive leaders by challenging young men and women to fulfill their potential through residence in a community that values intellectual rigor and respects the complexity of human understanding.

About ClimeCo

ClimeCo is a leader in the development and management of environmental commodities. We combine unrivaled commodity market expertise to help clients maximize their environmental assets while minimizing regulatory costs. ClimeCo was founded on its expertise in the petrochemical industry and currently manages nearly all voluntary N2O abatement projects in North America.

For more information or to discuss how ClimeCo can drive value for your organization, contact us through our website, climeco.com. Follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.

CVR Partners Generates First Carbon Offset Credits Related to Voluntary Nitrous Oxide Abatement Efforts

NEWS RELEASE
FOR IMMEDIATE DISTRIBUTION
Contact: Nancy Marshall, Corporate Marketing Director
484.415.7603 or nmarshall@climeco.com

CVR Partners Generates First Carbon Offset Credits Related to Voluntary Nitrous Oxide Abatement Efforts

Project should increase the Company’s reduction of CO₂e to more than 1 million metric tons each year.

SUGAR LAND, Texas, Oct. 05, 2020 — CVR Partners, LP (“CVR Partners”) (NYSE: UAN), a manufacturer of ammonia and urea ammonium nitrate solution fertilizer products, today announced that its subsidiary, Coffeyville Resources Nitrogen Fertilizers, LLC (“CRNF”), has generated its first carbon offset credits related to the Company’s voluntary nitrous oxide (“N₂O”) abatement efforts at its Coffeyville, Kansas, nitrogen fertilizer plant. CVR Partners has utilized similar technology to abate N₂O at its East Dubuque, Illinois, nitrogen fertilizer plant since 2011.

CRNF previously entered into a Joint Development Agreement with ClimeCo, a pioneer in the development of emission-reduction projects for nitric acid plants, to jointly design, install and operate a tertiary abatement system at one of its nitric acid plants in Coffeyville. The system was designed to abate 94 percent of all N₂O in the unit while preventing the release of approximately 450,000 metric tons of carbon dioxide equivalent (“CO₂e”) on an annualized basis. CVR Partners’ N₂O abatement systems at its East Dubuque facility’s two nitric acid plants have abated, on average, the annual release of approximately 233,000 metric tons of CO₂e during the past five years. With the Coffeyville system now operating at design capacity, CVR Partners’ two fertilizer facilities should abate more than 1 million metric tons of CO₂e each year, in combination with the Coffeyville facility’s carbon dioxide (“CO₂”) sequestration efforts.

“As a leader in the production of environmentally friendly ‘green’ nitrogen fertilizer, CVR Partners is proud to have generated its first carbon offset credits as a result of our voluntary nitrous oxide abatement project in Coffeyville, Kansas,” said Mark Pytosh, Chief Executive Officer of CVR Partners’ general partner. “Coupled with our Coffeyville CO₂ sequestration efforts, this facility is uniquely qualified to produce hydrogen and ammonia that is certified ‘blue’ to a market that is increasingly demanding reduced carbon footprints. These efforts support our core Values of Environment and Continuous Improvement, and our goal of continuing to produce nitrogen fertilizers that feed the world’s growing population in the most environmentally responsible way possible.”

CVR Partners’ N₂O abatement project is registered with the Climate Action Reserve (the “Reserve”), a carbon offset registry for the North American market. The Reserve employs high-quality standards and an independent third-party verification process to issue its carbon credits, known as Climate Reserve Tonnes.

About CVR Partners, LP
Headquartered in Sugar Land, Texas, CVR Partners, LP is a Delaware limited partnership focused on the production, marketing and distribution of nitrogen fertilizer products. It primarily produces urea ammonium nitrate (UAN) and ammonia, which are predominantly used by farmers to improve the yield and quality of their crops. CVR Partners’ Coffeyville, Kansas, nitrogen fertilizer manufacturing facility includes a 1,300 ton-per-day ammonia unit, a 3,000 ton-per-day UAN unit and a dual-train gasifier complex having a capacity of 89 million standard cubic feet per day of hydrogen. CVR Partners’ East Dubuque, Illinois, nitrogen fertilizer manufacturing facility includes a 1,075 ton-per-day ammonia unit and a 1,100 ton-per-day UAN unit.

About ClimeCo
ClimeCo is an Inc. 5000 company that is a respected advisor, transaction facilitator and trader of environmental commodity market products. Specialized expertise in regulated carbon, regional criteria pollutant trading programs, voluntary markets, and project development and financing of GHG abatement and mitigation systems complement ClimeCo’s diverse portfolio. For more information or to discuss how ClimeCo can drive value for your organization, contact them at (484) 415-0501, info@climeco.com or through their website at www.climeco.com.

Forward-Looking Statements
This news release contains forward-looking statements. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns or matters that are not historical facts are “forward-looking statements,” as defined under federal securities laws. These forward-looking statements include, but are not limited to, statements regarding future: abatement of N2O at Coffeyville and East Dubuque and credits relating thereto, operation of tertiary abatement systems including performance thereof, CO2 sequestration, production of “blue” hydrogen and ammonia and certification thereof, market demand, environmental impact of CVR Partners’ activities, registration with the Reserve including standards and verification thereof, and other factors. You can generally identify forward-looking statements by our use of forward-looking terminology such as “outlook,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond CVR Partners’ control. Investors are cautioned that various factors may affect these forward-looking statements. For additional discussion of risk factors which may affect CVR Partners’ results, please see the risk factors and other disclosures included in CVR Partners’ most recent Annual Report on Form 10-K, any subsequently filed Quarterly Reports on Form 10-Q and its other SEC filings. These risks may cause CVR Partners’ actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by forward-looking statements. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this news release are made only as of the date hereof. CVR Partners disclaims any intention or obligation to update publicly or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

For further information, please contact:

Investor Relations:
Richard Roberts
CVR Partners, LP
(281) 207-3205
InvestorRelations@CVRPartners.com

Media Relations:
Brandee Stephens
CVR Partners, LP
(281) 207-3516
MediaRelations@CVRPartners.com

Making Connections that Create Environmental Balance

Our planet is a world of give and take to find environmental balance. If you cut down a tree, plant two new ones. If your production process emits greenhouse gases, consider voluntarily reducing them or investing in carbon offset projects. If you travel for business, consider purchasing carbon offsets that make your carbon footprint neutral. At ClimeCo, we love helping companies, manufacturers, industry sectors and even rock bands come together to support each other to find that environmental balance. Currently, we are working to connect an industry we have supported since day one and a state that started it all with Cap and Trade.

Supporting a Big Industry

Did you know that agriculture is California’s number one industry, which brings billions of dollars into the state? From grapes grown in Napa Valley to almonds in Sacramento Valley, California farmers feed 13% of the US population. California has almost 80,000 farms that produce more than 400 commodities. They are the leading state in cash farm receipts and a quarter of what they produce is exported around the world. (Statistics from www.cdfa.ca.gov.)

In order to maintain this level of agricultural production, fertilizer is necessary to replenish the nutrients that are lost with each harvest. California farms use more than a million tons of fertilizer per year to feed their crops to support an abundant harvest. Fertilizers used in agriculture include nitrogen, phosphorus, and potash. There are fifteen states in the U.S. that contain nitrogen fertilizer production facilities, yet there are none presently in California, so the state must import fertilizer in order to support its major agricultural sector. All nitrogen fertilizers start from the processing of natural gas and other carbon-based fuels. The natural gas is transformed into ammonia and then into other nitrogen-based fertilizer products. That correlates to over two million metric tonnes per year (tpy) of CO2e emissions that are generated by the manufacturing and transportation of fertilizer to California, which the state has a responsibility to mitigate. This can easily be accomplished by supporting fertilizer-based N2O reduction projects located here in the U.S.

Greening Up Fertilizer

Nitrous oxide, which is 298 times more potent than carbon dioxide from a global warming potential, is formed from the processing of Nitric Acid, which is the main feedstock for ammonium nitrate, a critical nitrogen-based fertilizer. To address this, over 10 years ago, the Climate Action Reserve (CAR) adopted the Nitric Acid Protocol, the only fertilizer manufacturing GHG abatement protocol in use in the United States, with significant input from ClimeCo, who served on the Working Group. We wanted to make a difference and a positive impact on the fertilizer sector by creating scalable greenhouse gas abatement projects. There are many fertilizer producers who trusted ClimeCo when we had no real track record, and because of our passion and drive, we were able to partner with them to generate great success. These partnerships still exist and have only expanded over time.

Connecting the Dots

Through the purchase of carbon offsets from fertilizer manufacturing, your company can help green the agricultural supply chain in California. To date, ClimeCo has developed 100% of North American-based voluntary nitric acid carbon offset projects, representing approximately 15 million tonnes of CO2e abated from this sector, with additional projects currently being installed.

We encourage you to communicate this to your stakeholders or the agencies overseeing your CEQA case file. ClimeCo is happy to help supply information to assist you with your efforts. There are insufficient California-based voluntary offsets to meet the current California Environmental Quality Act (CEQA) demand and IT IS stalling economic growth in CA. These projects should be considered equivalent to in-state reductions for all purposes, including those under CEQA.

About the Authors

William “Bill” Flederbach cofounded ClimeCo in 2009 and has grown the business rapidly over the last 10 years. Before starting ClimeCo, Bill managed air quality at O’Brien and Gere (OBG), worked and managed the international carbon markets at MGM International and AgCert. He is a graduate of Pennsylvania State University and Smeal College.

Nancy Fuchs Marshall has worked in the environmental engineering market for over 14 years and in the marketing field for 23 years. Prior to joining ClimeCo, she fostered air, solid waste, wastewater and remediation projects for RMT (now TRC) and Sage Environmental (now ATC) and helped them increase their marketing and business development in the Southeast. Nancy is a graduate of the University of Notre Dame of Maryland.

Glossary

Colgate University Selects ClimeCo To Help Reduce Its Greenhouse Gas Emissions

Colgate University Selects ClimeCo To Help Reduce Its Greenhouse Gas Emissions

CVR Partners Generates First Carbon Offset Credits Related to Voluntary Nitrous Oxide Abatement Efforts

CVR Partners Generates First Carbon Offset Credits Related to Voluntary Nitrous Oxide Abatement Efforts

Making Connections that Create Environmental Balance

Making Connections that Create Environmental Balance

Sources

Additional Resources