California Resources Corporation (NYSE:CRC) has achieved the first landmark carbon dioxide (CO2) injection at Carbon TerraVault I (CTV I), a first-of-its-kind carbon capture and storage (CCS) project that will help advance California's progress toward carbon neutrality.

Located at CRC's Elk Hills Field in Kern County, CTV I is California's first operational CCS project, establishing a market for storing CO₂ from industrial sources and placing CRC among a small group of operators globally that have advanced CCS projects from concept to operation. The project sources CO₂ from CRC's cryogenic gas plant and leverages existing infrastructure at a depleted oil and natural gas reservoir designed to safely and permanently store captured CO₂ more than one mile underground.

"First injection at CTV I demonstrates that California can lead on climate solutions that are practical, scalable and cost-effective," said CRC President and CEO Francisco Leon. "This project reflects years of technical work, rigorous regulatory review, and collaboration with state and federal agencies to deliver real emissions reductions while strengthening California's energy resilience."

CTV I is composed of two depleted oil and natural gas reservoirs – "26R" and "A1-A2". At its maximum capacity, CTV I – 26R will be capable of storing up to 1.46 million metric tons of CO₂ annually – equivalent to taking nearly 350,000 cars off the road each year – with total storage potential of 38 million metric tons.

"The Golden State is building the full suite of tools needed to meet our climate goals, and Carbon TerraVault I is proof that innovation and ambition are the California way," said California Governor Gavin Newsom. "This first-of-its-kind project in Kern County will permanently store carbon pollution underground for the first time in California's history. These are the kind of climate solutions that spur the industries and infrastructure needed to power a cleaner future and create good-paying jobs right here in our communities."

As part of the CTV I Community Benefits Plan, CRC committed over $1 million to support local communities across Kern County. Over the course of 2026, a Community Advisory Council, comprised of local stakeholders, will be established to evaluate and respond to the region's needs.

CTV I – 26R, part of the Carbon TerraVault Joint Venture between CRC and Brookfield, is the first reservoir in California to receive final Class VI permits from the U.S. Environmental Protection Agency (EPA).