CO280 and Aker Carbon Capture collaborate with Microsoft to scale-up permanent, affordable carbon removal in US and Canada - Seite 2

CO280 is the leading developer of Carbon Dioxide Removal (CDR) projects in the pulp and paper industry. In partnership with pulp and paper companies, CO280 develops, finances, owns, and operates large-scale CDR projects. CO280's projects address a critical supply gap in the CDR market by supplying permanent, verifiable, and affordable CDR to corporate buyers in the voluntary market. CO280 currently has more than 10 million tons per year of permanent CDR under development. 

"This commitment on the part of three best-in-class companies is exactly the kind of bold move the industry needs to unlock the enormous removal opportunity in the pulp and paper industry and scale up the CDR market. Together, we are developing the largest scale, lowest cost, permanent carbon removal projects in the world," said Jonathan Rhone, Chief Executive Officer of CO280.

Microsoft announced its ambitious Carbon goals back in 2020: To be carbon negative by 2030 and remove the company's aggregated carbon footprint by 2050. This journey starts with reducing carbon emissions as much as possible, replacing electricity consumption with carbon-free energy, and removing the emissions that remain. Microsoft has run an open process for carbon removal since 2020 and the company has shared learnings publicly. Microsoft is committed to creating a robust market for CDRs, including by building a digital value chain that authoritatively tracks carbon attributes and generates robust credits as simply as possible. For this to happen, engaging with companies that share the same goals is essential. 

"Our collaboration with Aker Carbon Capture and CO280 builds on important large-scale initiatives across asset-intensive industries including pulp and paper," says Darryl Willis, Corporate Vice President of Energy and Resources Industry at Microsoft. "By leveraging the power of technology to create a digital value chain for carbon tracking and reporting, we can equip the market for high-integrity carbon removal credits and further enable the industrial sector to decarbonize."

"It's time to move past the first-of-a-kind and the demonstration projects for carbon removal. The deployment rate needs to be accelerated by the hundreds to deliver the `net' in net zero. We have demonstrated the strength of working together in the past, and we are excited to expand our collaboration with Microsoft and CO280 to further deliver impact," says Egil Fagerland, CEO of Aker Carbon Capture.