Microsoft Makes History in Massive Carbon Removal Deal!
Photo by https://www.stockholmexergi.se/
Software giant Microsoft has signed the world’s largest carbon removal agreement with a Swedish energy company, Stockholm Exergi, removing up to 3.3 million metric tons of CO2 from the atmosphere.
The agreement was announced on Monday by the Swedish energy company.
The emissions captured will come from a new carbon-capture-and-storage installation, specially built by Stockholm Exergi to permanently remove 800,000 tonnes of CO2 from the atmosphere every year. Construction is scheduled to start in 2025 after Microsoft’s announcement secured the investment needed to push the project towards a final investment decision that is planned to come by the end of this year, as the CEO of Stockholm Exergi Anders Egelrud explained.,
New "Largest CDR purchase ever" 'just dropped
Microsoft buys 3.3 million tons over 10 years from Stockholm Exergi
BECCS with residues from local pulp and paper mills, forestry and sawmillshttps://t.co/SAQeBVW7k6
— Jack Andreasen (@AndreasenJack) May 6, 2024
Their ingenious carbon capture technology will be linked to Stockholm Exergi’s biomass power plant – the largest in Europe – which uses forestry and paper mill waste products to generate electricity and heat. The CO2 given off in this process will be captured, converted to a liquid, and transported to permanent storage deep underground.
This partnership works for companies such as Microsoft to help them reach their ambitious zero-carbon emissions goals. Stockholm Exergi will sell carbon removal permits, certifying 1 million tons of CO2, to emitters seeking to reduce their carbon footprint.
‘Using existing biomass power plants is the first foundational step in building a global carbon removal infrastructure,’ said Brian Marrs, senior director of energy and carbon removal at Microsoft in a statement. ‘Together, we’re forging a historic path forward for removing CO2 from the air and tackling climate change.’а
