Bloomington, Minnesota (March 28, 2023) – Today CenterPoint Energy (NYSE: CNP) and Radisson Blu Mall of America, part of Choice Hotels International, Inc. (NYSE: CHH), announced the groundbreaking installation of a carbon-capture technology unit, CarbinX™, developed by CleanO2. This marks the first hotel in the world to use this innovative system that captures greenhouse gas emissions from heating equipment. The installation is part of a program by CenterPoint Energy, Minnesota's largest natural gas utility, to explore the potential of new, cleaner energy technologies.
As the world works quickly to find ways to address climate change by reducing greenhouse gas emissions from human activity, CarbinX is a bold and innovative step in these efforts for commercial buildings such as Radisson Blu MOA.
The size of about two home refrigerators, the CarbinX device is connected directly to the flue of the hotel's natural gas water heating equipment, where it captures carbon dioxide (CO2) and converts it to a nontoxic carbonate powder known as pearl ash. CleanO2, the manufacturer of CarbinX, collects the pearl ash and recycles it as a key ingredient in commercial products such as soaps and detergents. The products are sold online at CleanO2.ca to customers in the U.S. and Canada. They are also sold through several retail chains and boutiques in Canada.
Radisson Blu MOA also expects to reduce its energy bill because the CarbinX unit recycles heat, increasing efficiency in the water heating system to achieve both energy and cost savings.
CenterPoint Energy is deploying the CarbinX technology in a pilot program with 10 of its commercial customers in Minnesota, including Radisson Blu MOA. Additional CarbinX installations are also being considered for inclusion in the utility's first five-year innovation plan under the Natural Gas Innovation Act, a landmark new Minnesota energy law.
"We are thrilled to be leading the way to the future of hospitality stewardship," said Alberto Abreu, General Manager of Radisson Blu Mall of America. "We at Radisson Blu Mall of America and Choice Hotels International are committed to being part of the climate change solution, and we are proud to be a leader in the industry as the first hotel in the world to install a CarbinX unit. We are grateful for the opportunity to work with CenterPoint Energy and CleanO2 to demonstrate the success of CarbinX in this setting, and we're extremely optimistic about the impact this technology can make."
Steve Greenley, CenterPoint Energy's Senior Vice President for Utility Operations Support, said, "CenterPoint Energy is committed to evaluating innovative solutions to reduce emissions and advance a cleaner energy future. Through our natural gas utility in Minnesota, we are excited to offer our business customers the opportunity to deploy this new technology that can help decrease their carbon footprint while also reducing their energy usage and heating bills."
Jaeson Cardiff, CEO of CleanO2, said, "Moving carbon capture technology to the mainstream takes vision and commitment. At some point, we hope people will take it for granted. But right now, we need leadership and collaboration. That's exactly what we've experienced from CenterPoint Energy and Radisson Blu Mall of America. We're proud to collaborate with them for this installation."
Having this innovative new technology installed at Radisson Blu MOA is one example of Choice Hotels' overall focus on Environmental, Social and Governance (ESG) efforts to strengthen sustainability in the lodging industry while driving financial returns and lower costs for owners.
For a brief video explaining how the CarbinX unit works, visit: https://www.youtube.com/watch?v=GBniOXtrkmU
To learn more about this technology, visit: CenterPointEnergy.com/CarbonCapture
To access photo and video assets, visit: https://www.dropbox.com/sh/te76o39sm2gxyvs/AACuiimx0QLflo4qWTyCEUIQa?dl=0
CenterPoint Energy Forward-Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as CenterPoint Energy's ability to execute on its generation transition plan and to implement cleaner energy, the expansion of CenterPoint Energy's pilot program, the inclusion of certain technologies in CenterPoint Energy's future innovation plans, the extent and amount of, if any, of anticipated bill and energy reductions, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of pandemics, including the COVID-19 pandemic; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; (8) continued disruptions to the global supply chain and increases in commodity prices; (9) legislative decisions, including tax and developments related to the environment such as global climate change, air emissions, carbon and waste water discharges; (10) CenterPoint Energy's ability to execute on its initiatives, targets and goals and operations and maintenance goals and (11) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
CenterPoint Energy Net Zero Disclaimer
CenterPoint Energy's Scope 1 emissions estimates are calculated from emissions that directly come from its operations. CenterPoint Energy's Scope 2 emissions estimates are calculated from emissions that indirectly come from its energy usage, but because Texas is in an unregulated market, its Scope 2 estimates do not take into account Texas electric transmission and distribution assets in the line loss calculation and exclude emissions related to purchased power between 2024E-2026E. CenterPoint Energy's Scope 3 emissions estimates are based on the total natural gas supply delivered to residential and commercial customers as reported in the U.S. Energy Information Administration (EIA) Form EIA-176 reports and do not take into account the emissions of transport customers and emissions related to upstream extraction. While CenterPoint Energy believes that it has a clear path towards achieving its net zero emissions (Scope 1 and Scope 2) by 2035 goals, its analysis and path forward required it to make a number of assumptions. These goals and underlying assumptions involve risks and uncertainties and are not guarantees. Should one or more of our underlying assumptions prove incorrect, CenterPoint Energy's actual results and ability to achieve net zero emissions by 2035 could differ materially from its expectations. Certain of the assumptions that could impact our ability to meet its net zero emissions goals include, but are not limited to: emission levels, service territory size and capacity needs remaining in line with company expectations (inclusive of changes related to the sale of CenterPoint's Natural Gas businesses in Arkansas and Oklahoma); regulatory approval of Indiana Electric's generation transition plan; impacts of future environmental regulations or legislation; impacts of future carbon pricing regulation or legislation, including a future carbon tax; price, availability and regulation of carbon offsets; price of fuel, such as natural gas; cost of energy generation technologies, such as wind and solar, natural gas and storage solutions; adoption of alternative energy by the public, including adoption of electric vehicles; rate of technology innovation with regards to alternative energy resources; CenterPoint Energy's ability to implement its modernization plans for its pipelines and facilities; the ability to complete and implement generation alternatives to Indiana Electric's coal generation and retirement dates of Indiana Electric's coal facilities by 2035; the ability to construct and/or permit new natural gas pipelines; the ability to procure resources needed to build at a reasonable cost, the lack of or scarcity of resources and labor, the lack of any project cancellations, construction delays or overruns and the ability to appropriately estimate costs of new generation; impact of any supply chain disruptions; changes in applicable standards or methodologies; and enhancement of energy efficiencies.
Choice Hotels International Forward-Looking Statement
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding environmental, social and governance ambitions, goals, targets, initiatives, commitments and activities, as well as our future operations and long-term strategy. These forward-looking statements are based on management's current beliefs, assumptions and expectations regarding future events, which, in turn, are based on information currently available to management. We caution you not to place undue reliance on any such forward-looking statements. Forward-looking statements do not guarantee future performance and involve known and unknown risks, uncertainties and other factors. These and other risk factors are discussed in detail in the company's filings with the Securities and Exchange Commission (the SEC), including, but not limited to, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Radisson Blu Mall of America
Radisson Blu Mall of America is an elegant hotel offering the ultimate in style and convenience with direct access via skyway to the mall. This Choice Hotels International property was the first LEED-certified hotel in the region. For more information about the hotel, please visit: www.radissonhotelsamericas.com. To learn more about Choice Hotels' approach to sustainability, please visit: www.choicehotels.com/about/responsibility/room-to-be-green.
About CenterPoint Energy
CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of December 31, 2022, the company owned approximately $38 billion in assets. With approximately 9,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
About CleanO2 Carbon Capture Technologies
CleanO2 is a privately held cleantech company and champion of the circular economy. Its proprietary CarbinX™ technology captures carbon dioxide from natural gas heating systems and converts it into pearl ash (potassium carbonate). CarbinX units have been deployed in Canada, the United States and Japan. CleanO2 pearl ash has numerous commercial applications, including the manufacture of personal care products, cleaning products, fertilizers, foods, pH balancers and more. The revenue from the sale of the pearl ash funds further research and deployment of CarbinX units.
