HOUSTON, July 09, 2024 (GLOBE NEWSWIRE) -- 1PointFive, a carbon capture, utilization and sequestration (CCUS) company, today announced it has entered into an agreement with Microsoft to sell 500,000 metric tons of carbon dioxide removal (CDR) credits over six years to support Microsoft's carbon removal strategy. The agreement is the largest single purchase of CDR credits enabled by Direct Air Capture (DAC) to date and highlights the increasing adoption of this climate technology as a solution to help organizations achieve net-zero emissions.
The CDR credits for Microsoft will be enabled by STRATOS, 1PointFive's first industrial-scale DAC facility currently under construction in Texas. Under the terms of the agreement with Microsoft, which has committed to becoming carbon negative by 2030, the captured carbon dioxide (CO2) underlying the credits will be securely stored through subsurface saline sequestration and will not be used to produce oil and gas. Direct Air Capture provides a transparent and durable way to address emissions on a large scale, particularly from hard-to-abate industries.
"We are excited about this landmark agreement for Direct Air Capture, which is a result of Microsoft's leadership in carbon removal and focus on building a more sustainable future," said Michael Avery, President and General Manager of 1PointFive. "A commitment of this magnitude further demonstrates how one of the world's largest corporations is integrating scalable Direct Air Capture into its net zero strategy. ...