BKV Forms $500M Joint Venture With Copenhagen Infrastructure Partners To Accelerate U.S. Carbon Capture Projects, Contributing Barnett Zero And Eagle Ford Assets For 51% Stake While CIP Takes Up To 49%

BKV Corporation ("BKV" or the "Company") (NYSE:BKV) today announced the formation of a strategic joint venture (the "JV") between BKV dCarbon Ventures, LLC ("dCarbon Ventures"), BKV's wholly-owned subsidiary, and Copenhagen Infrastructure Partners ("CIP"), on behalf of its Energy Transition Fund I, to expand BKV's portfolio of carbon capture, utilization and sequestration ("CCUS") projects.

CIP, on behalf of its Energy Transition Fund I, has agreed to commit $500 million to be invested by the JV for use in designing, constructing and operating CCUS projects across the United States in exchange for up to a 49% interest in the JV. BKV has contributed to the JV its ownership of the Barnett Zero and Eagle Ford projects, and has committed to future contributions of CCUS projects, related assets and/or cash, in exchange for a 51% interest in the JV.

The JV will leverage BKV's standing as an early leader in developing CCUS projects while benefitting from CIP's significant experience in developing low-carbon infrastructure projects. BKV and CIP expect to identify investment-ready projects for development by the JV, with BKV serving as the operator of all of the JV's CCUS projects.