Canadian-based clean energy company Carbon Engineering and London-based Climate Asset and Liability Management company BeZero Carbon have come together to deliver a new retail carbon dioxide removal service.
At the moment, the permanent removal of carbon service which uses Carbon Engineering’s large-scale Direct Air Capture (DAC) technology can be pre-purchased on BeZero’s platform.
BeZero has already acquired a starting amount of carbon dioxide removal capacity that its customers can buy either as individual DAC units or in a package with other solutions. And further purchases will be made in time, as per demand.
What Does The Collaboration Mean For Carbon Dioxide Removal?
This joint venture makes Carbon Engineering’s technology available to customers in small quantities for the first time, which is a major step towards making carbon removal more accessible.
In addition to being able to purchase DAC carbon credits, customers can use BeZero’s platform to access the BeZero Carbon Rating (BCR) Framework, allowing for more transparency and an assessment of the quality of other solutions offered on the market. namely, it provides a rating system that ranges from AAA+ to A and is based on a number of risk factors, such as over-crediting, permanence, additionality, and others.
And so far, Carbon Engineering’s technology is the only service to have been given an AAA+ rating.
According to Carbon Engineering’s CEO, Steve Oldham, the voluntary carbon market is currently one of the strongest forces driving the buildout of carbon capture infrastructure in the world. And with respect to that, Oldham expressed his appreciation of BeZero’s efforts to provide more ‘clarity and transparency to the industry.
Each of DAC units designed by Carbon Engineering can capture as much as up to 1 million tons of CO2 per annum. That is roughly the same amount that would be captured by 40 million trees in the same time frame.
