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
As companies across the global supply chain face increasing regulatory and environmental pressure to be transparent, sourcing and producing responsibly, blockchain will revolutionise the raw materials industry, driven by a broad-based push from individual consumers and corporate investors.
Nathan Williams founder and CEO of public blockchain-based traceability platform Minespider speaks to Climate Transformed about the key opportunities and challenges facing blockchain:
Dilip is a skilled editor with over two decades of experience as a journalist and team leader in the business media world. A Londoner through and through, Dilip is the lead copy editor with media firm Momo Media Group. He previously worked as the deputy editor of Euromoney’s MetalBulletin, now known as Fast Market Metal Bulletin, the oldest publication gathering in-depth market content for the metals industry intelligentsia, a magazine once described by steel tycoon Lakshmi Mittal as ‘The Economist of metals’. More recently, Dilip has also been working in the fast-growing steel derivatives market. Dilip graduated from the University of Hull after studying at Farnborough College of Technology. Dilip is a surprisingly good singer.