ContourGlobal plc and ALPEK, S.A.B. de C.V. announced they have formed a new company that is developing a CO2 capture and liquefaction facility for sale to the food, beverage, and medical industries. The facility will be integrated into ContourGlobal's 420 MW Combined Heat and Power Plant located in Altamira, Mexico ("CGA") which provides electricity, heat and steam to Alpek and its affiliates. The new company will sustainably supply the rising need of food-grade CO2 in Mexico, which currently has a 80,000 tons per year deficit requiring expensive imports from the United States. The joint venture is well positioned to meet these supply shortfalls. For more than a decade ContourGlobal has been a leader in integrating CO2 capture and liquefaction into natural gas fired power plant operations, providing food grade CO2, and to date has captured over 300,000 tonnes of CO2. Contour has fully integrated five carbon capture facilities into power plant operations, and has maintained electricity generation reliability at or above levels of similar plants without CO2 capture. Its efforts have been recognized with numerous awards for innovation and environmental impact. Building on this expertise, ContourGlobal sees an opportunity to invest over $100 million in CO2 capture or utilization investments over the next 18 24 months.