Block Energy PLC (AIM:BLOE) shares were up in Tuesday's dealing, after announcing the completion of its first carbon capture storage pilot injection at the Patardzueli-Samgori field in Georgia.
The operation involves injecting liquid CO₂ along with water and tracers. In a statement, Block Energy confirmed no leakages at the surface and said monitoring showed connectivity with the injection well.
“We are proud to have delivered the region's first successful CO₂ mineralisation injection pilot, having done so through our own cash resources,” said chief executive Paul Haywood. He added that the milestone paves the way for commercial engagement with industry and carbon markets.
Block Energy shares were up 17.5% in London, with the company now valued in the market at just under £7.5 million.