In March 2022, Caliche Development Partners closed on the sale of its natural gas liquids storage business, Coastal Caverns. This transaction reflects a positive realization of the partnership with Energy Spectrum Capital, conceived to grow and improve energy infrastructure in North America through development and acquisition. Caliche is excited to transfer care and growth of this critical storage hub to an owner with a complementary business and exciting growth plans. The lock-step dedication of the Coastal, Caliche and Energy Spectrum teams through economic and pandemic related challenges provided the foundation on which long-term growth can flourish.
This sale will enable the Houston-based company to concentrate on its low-carbon storage solutions in Jefferson County, on the Gulf Coast and beyond—from carbon sequestration to the subsurface storage of other industrial gases, like hydrogen, that support the energy transition.
Finance Contact: David Saindon – dsaindon@calichestorage.com
Media Contact: Emily C. Walsh – emily@ecwcommunications.com