Climate Transformed Ventures (CTV) is a methane infrastructure and origination platform company that leverages government funding and private capital to cap orphaned oil wells across the United States and Canada.
An orphaned oil well has no solvent owner of record, leaving the responsibility of capping in the hands of state and federal governments.
The EPA estimates that there are up to 3.7 million orphaned wells in North America, with the estimated cost to cap them ranging from $200bn- $300bn.
There is only $4.7bn allocated by the US Federal Government under the Infrastructure Investment and Jobs Act (IIJA).
This is the first phase of a multi-decade solution that will require the extensive deployment of private capital
