Carbon Streaming Announces Biochar Carbon Removal Deal With Microsoft

Carbon Streaming Announces Biochar Carbon Removal Deal With Microsoft - Carbon Herald

Toronto-based Carbon Streaming (OTCMKTS: OFSTF) has announced a deal with Microsoft (NASDAQ: MSFT) under which it will supply the technology major with carbon removal credits sourced from the Waverly Biochar project in Waverly, in the southeastern U.S. state of Virginia.

This collaboration is pivotal in helping Microsoft achieve its carbon-negative objectives, with the Waverly Biochar project anticipated to generate up to 10,000 tons of carbon dioxide (CO2) removal credits annually, the Canadian company said in a statement published Wednesday.

The exact value or scope of the deal were not disclosed.

Oliver Forster, Vice President of Sales at Carbon Streaming, expressed enthusiasm about the opportunity to provide Microsoft with scalable, high-quality carbon removals.

“We’re particularly excited about the capacity for biochar to scale this decade with support from visionary organizations such as Microsoft,” he said in a comment to the collaboration.

Brian Marrs, Senior Director of Energy and Carbon at Microsoft, applauded Carbon Streaming’s role in supporting biochar development through the Waverly Biochar project.

“Carbon Streaming’s capacity to provide project-level finance is an important part of scaling this industry and it ensures we can focus on procuring carbon removal from high quality projects,” he said.

Relevant: Heirloom And Microsoft Ink New Carbon Removal Deal

Mr. Forster also highlighted biochar as a critical element for corporations with net-zero commitments, citing its scalability and cost-effectiveness in delivering removals in line with corporate goals.

According to Project Drawdown, a San Francisco-based nonprofit aimed at accelerating the adoption of climate solutions around the world, biochar could sequester 1.36–3.00 gigatons of carbon emissions by 2050, equivalent to two to four and a half years of Canada’s 2021 carbon emissions.

Realizing this gigaton-scale potential, however, requires building both supply and demand, and corporations can contribute to growth in the industry by purchasing carbon removal credits from biochar projects, just like Microsoft has done, Carbon Streaming said.

Read more: Mast Reforestation Secures $15 Million From Carbon Streaming

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