Grey Rock Investment Partners

Grey Rock Investment Partners is a private equity firm with more than $1.3 billion in assets under management. The firm invests across the energy value chain including carbon capture, industrial electrification, power optimization and natural resources.  In May 2022, Grey Rock agreed to fund additional growth of Vault through a capital commitment of up to USD$150 million.  Matt Miller, Co-Founder and Managing Director at Grey Rock stated “We find carbon capture and sequestration to be one of the most compelling opportunities in the energy transition. After having met with several CCS teams, it was clear to us that Vault was the right fit for us in how we approach investments”.

“Grey-Rock Investment Partners understands the value of adding growth capital to an experienced company with a strong leadership team and believes that the Vault team will build on existing knowledge and expertise to further advance CCS projects throughout North America.  The Vault 44.01 team possesses a comprehensive project development skill set with expertise in geoscience, engineering, land management and project execution that is complementary to Grey Rock’s existing deep technical skill set related to energy investments.  This has already allowed the respective teams to collaborate closely on certain projects.”

Vault will use the committed capital to execute on its near-term pipeline of CCS projects while continuing to develop further opportunities in the CCS space.

Currently, Vault has developed an extensive platform of actionable CCS projects with ethanol facilities in the Midwest region each of which emits between 200,000 and 500,000 tonnes of CO2 per year.  In addition, Vault is involved in several high quality, early-stage CCS projects in Canada such as the Hinton Bioenergy Carbon Capture and Storage Project in collaboration with West Fraser and Torchlight. Vault’s pipeline spans a range of industrial sectors including power generation, cement and lime, forest products and hydrogen production that spans multiple regions of North America.

The investment by Grey Rock will allow the Vault 44.01 team to accelerate and expand our portfolio of safe and reliable CCS solutions with our business partners.