Carbon removal tracing platform Carbonfuture and bio-energy technology startup PyroGenesys announced on Dec. 20 they have signed a pre-purchase agreement. The deal will enable PyroGenesys to demonstrate its patented carbon removal technology at its pilot plant in the United Kingdom.
As part of the agreement, Carbonfuture will provide PyroGenesys with assistance with financing, certification, and other challenges of building a CO2 credit business.
PyroGenesys’ containerized waste-to-energy system Pyrochemy uses an advanced thermal technology known as pyrolysis to generate electricity and create biochar as a by-product, while at the same time removing CO2 from the atmosphere. Carbonfuture will support the startup in proving its pilot plant in a brewery in the UK.
PyroGenesys’ ultimate goal is to apply the same technology in Nigeria. Almost two-thirds of the world’s population that does not have electricity access lives in Sub-Saharan Africa farming communities. Yet, company studies have demonstrated that many of these communities have access to an abundant supply of agricultural waste that can be transformed into surplus electricity, process heat, and biofuels.
By providing advance financing, Carbonfuture is helping PyroGenesys’ mission of deploying Pyrochemy in communities without electricity, providing access to renewable energy, while sequestering CO2.
Carbonfuture is an end-to-end platform for companies that aim to remove CO2 from the atmosphere. The company offers access to premium carbon removal and participation in a global carbon community.
In addition to its digital platform, Carbonfuture also provides its partners with access to project financing tools and long-term partnerships.