VVC Strategic Investment - Proton Green - Selected for U.S. Department of Energy Grant to Develop Southwest Regional Direct Air Capture Hub

$11.6m Grant Designed to Advance the Carbon Capture Industry In The Region

TORONTO, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Proton Green LLC, a strategic investment of VVC Exploration Corporation, dba VVC Resources, ("VVC" or the "Company"), (TSX-V:VVC and OTCQB:VVCVF) was chosen by the U.S. Department of Energy to lead the development of the Southwest Regional Direct Air Capture (DAC) Hub. This initiative, backed by an esteemed consortium of industry leaders, universities, and organizations, has secured a substantial $11.6 million grant that underscores the promise of a cleaner, more sustainable future. Proton Green is a wholly owned subsidiary of Cyber App Solution Corp. (OTC: CYRB). VVC owns approximately 11.9% of Cyber App Solution Corp.

The Southwest Regional DAC Hub project is an integral part of the U.S. Department of Energy's groundbreaking Regional DAC Hubs program, aimed at expediting the establishment of a wide-reaching network of large-scale DAC carbon dioxide (CO₂) removal sites across the nation. This initiative aligns with VVC's commitment to invest in projects fostering innovation and sustainable solutions within the energy sector.

Proton Green, a leading operator in the helium and beverage-grade CO₂ market, will play an important role in facilitating the creation of a Storage Field Development Plan in conjunction with its consortium partners. This comprehensive plan will encompass diverse planning aspects including engineering, infrastructure layout, operational intricacies, and transportation logistics. The overarching goal is to pave the way for a multi-location DAC Hub capable of capturing over 1.0 million metric tons of CO₂ annually from the atmosphere. This captured CO₂ will be securely sequestered within Proton Green's St. Johns Field basin and two additional locations, reflecting Proton Green's commitment to addressing carbon emissions on a significant scale.

"The Southwest Regional Direct Air Capture Hub is a pioneering endeavor that aligns perfectly with VVC’s commitment to advancing sustainable technologies," said Terry Martell, Chairman of VVC Resources. "In addition to the environmental benefits, the grant allows Proton Green to take a big step in developing its carbon capture business."

The DAC Hub will complement Proton Green's strategic vision for CO₂ sequestration at its St. Johns Dome asset, which is anticipated to serve as one of the multi-site locations within the Southwest Hub. Furthermore, the Hub's development holds the promise of fostering a renewable energy surge in a region marked by aging coal plants scheduled for retirement and expansive land with existing transmission capacity. This transition presents a unique opportunity to support local communities, generate tax revenue, and pave the way for sustainable industrial growth.