Aker Carbon Capture strikes another major carbon capture deal this time with Microsoft. The two companies have signed a Memorandum of Understanding (MoU) to pursue innovation and explore opportunities to offer services in the carbon capture, utilization and storage (CCUS) space.
Aker Carbon Capture plans to utilize its proprietary technology in carbon removal while Microsoft’s digital capabilities enable the ecosystem for the voluntary carbon market. One of the top leaders in the tech world can provide traceability and data which ensures high-quality carbon credits.
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That is why both companies have agreed to work together using their combined strengths and technology expertise. They share a goal of accelerating the development of a functioning marketplace for carbon capture and storage and overcoming difficulties related to the execution and efficiency of the carbon market.
“The science is clear; we all need to reduce our emissions as much as possible and remove carbon from the atmosphere in order for the world to reach net zero. In Aker Carbon Capture we have a partner that supports this goal and together, we aim to enable the industrial sector to move with pace and scale toward a net zero future by leveraging the power of technology,” said Darryl Willis, CVP of Energy Industry at Microsoft.
The mission of Aker Carbon Capture is to allow industries emissions reductions through carbon capture. It helps hard to decarbonize industries like cement, steel, waste-to-energy and fossil fuels energy generation to invest in becoming carbon neutral and maintain their license to operate.
The company is determined to scale its solutions that are aligned to achieving the Paris Agreement targets. It also aims to halve the carbon intensity of its carbon capture solutions by 2030 and be “net negative” in the same period.
In 2020, Microsoft announced its green ambitions and its goal to be carbon negative by 2030. By 2050, the company aims to remove from the environment all the carbon it has ever emitted directly since it was founded in 1975 including emissions from electricity consumption.
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The collaboration between two major leaders in climate change mitigation initiatives is a milestone not just for the two companies but also for the whole market. Microsoft is not only announcing a net-zero goal but also values progress and actionable steps in reducing emissions from its entire supply and value chain and Aker Carbon Capture could contribute to those efforts.
