Lockwood Advisory Systems Transition Broker
Working brief · MMXXVI
Carbon Project · Actions

Actions and next steps

From the HSBC call · early July 2026 · Nicole, Michael and Cash (HSBC)

A working view of what came out of the call and who does what next. The banking route was thin, so the focus stays on the real momentum: the Yara pilot, and finding the next emitter through warm introductions.

Click any status to update it · To do, In progress, Done. Filter by owner below.

The bottom line

The one thing that unlocks the next stage is an industrial emitter willing to trial the technology at scale. The Yara pilot is the live proof point; the next job is lining up the emitter after it through warm introductions. HSBC was interested in future deal flow but committed no introductions and pitched a financing model they have not executed yet, so treat them as keep-in-touch, not something to rely on.

Yara pilot · where it stands
Status
MOU signed · Yara Pilbara site
Funding
About US$1.6 to 1.8M secured · US$1M grant plus dev funding
Pilot size
3,500 tpa, on Yara's own emissions
Their CO2
About 1 Mtpa pure stream, plus 250 ktpa dilute
Scale path
Prove it, then about 50 ktpa per train, toward 100 ktpa+ per site
Next gate
FID targeted mid to late 2027, after more engineering
The actions

Carbon Project · Actions and Next Steps · Lockwood Advisory · MMXXVI

Source: Plaud recording 3 (HSBC call). The two personal recordings are handled separately in the vision note. HSBC follow-ups are low priority by design: they are waiting on Cash and none are on the critical path.