TETRA and CarbonFree Teaming Up to Accelerate Innovation in Carbon Capture Utilization & Storage (CCUS)

Companies collaborating on technology to help bring planet to net-zero faster

For Immediate Release

May 3, 2021

TETRA and CarbonFree Team Up

THE WOODLANDS, Texas, May 3, 2021 — TETRA Technologies, Inc. (“TETRA” or the “Company”) today announced that the Company has signed a memorandum of understanding (“MOU”) with CarbonFree, a global carbon capture company with patented technologies that capture CO2 and mineralize emissions to make commercial, carbon-negative chemicals.

CarbonFree’s SkyCycle™ is a second-generation carbon mineralization technology that uses calcium chloride as a key part of the conversion chemistry. TETRA is a global leader in the production and chemistry for many commercial applications of calcium chloride, so the Companies plan to use each other’s technical expertise, chemistry know-how, production, and supply chain networks to jointly advance the commercialization of SkyCycle™.

TETRA and CarbonFree have been collaborating since November 2020 and have been jointly sharing and leveraging both Companies’ technical resources and expertise as CarbonFree continues to advance their carbon capture mineralization pilot plant, processes, and technologies. During the one-year MOU period, both Companies will work towards a definitive agreement that might include investments by TETRA into CarbonFree, a joint venture, or other commercial arrangements that will leverage each Company’s strength to advance this market-leading technology.

Martin Keighley, CarbonFree’s chief executive officer commented, “We’re excited to formalize our relationship and continue collaborating with TETRA, who is a world-class player in the calcium chloride space. Having their in-depth expertise will help us accelerate our expansion of bringing SkyCycle™ to industrial plants across the globe — which will mean getting to a net-zero planet faster.”

Brady Murphy, TETRA’s president and chief executive officer commented, “Because SkyCycle™ produces a high quality, commercial mineral from CO2 emissions, we believe there are many cost and commercial advantages to this technology. We are pleased to partner with CarbonFree and utilize our nearly 40 years of calcium chloride chemistry, technical expertise, and global footprint. We believe that by combining our efforts and expertise we can accelerate SkyCycle™ for a rapidly-growing carbon capture market that requires innovative, scalable, and lower cost solutions.”

About CarbonFree

CarbonFree Chemicals Holdings, LLC is a privately held company. CarbonFree has invested over 17 years into research and development to prepare to bring its SkyCycle™ technology to hard-to-abate industries around the world. CarbonFree’s mission is to capture 10% of the world’s industrial carbon, thereby helping industries and companies reach their net zero goals. For more information about CarbonFree, visit www.carbonfree.cc.

Media Contact

Phil Chinitz

About Braemar Energy Ventures

Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on investing in transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to creating significant global impact. For more information, visit braemarenergy.com.