Inherit To Deliver Carbon Removals In An Offtake Agreement With Drax

Inherit To Deliver Carbon Removals In An Offtake Agreement With Drax - Carbon Herald

Drax, a leading energy company, announced the purchase of BECCS credits from Inherit Carbon Solutions. Drax has agreed to purchase 1,000 tonnes of carbon dioxide removals credits from Inherit Carbon Solutions’ projects in Norway. Drax will purchase the credits for €400 per tonne, with first delivery expected in 2025.

By leveraging waste-water and food waste for the purpose of carbon removal, Inherit Carbon Solutions employs a sustainable and effective solution that not only addresses carbon emissions but also contributes to the responsible management of waste. To achieve this, Inherit Carbon Solutions partners with biomethane facilities that not only treat organic waste, but also creates a valuable source of renewable energy.

Relevant: Drax & Molpus Woodlands To Fuel BECCS Operations In The US

Marc Bradbrook, SVP of Business Development, Drax said, “This investment speaks to our ambition in the carbon removals market – we are not only committed to accelerating our own bioenergy with carbon capture and storage (BECCS) sites but also to mobilising and scaling the wider market for high integrity BECCS credits. The IPCC believes that globally up to 9.5 billion tonnes of CDRs via BECCS will be required per year by 2050 so there is a real need to invest in and scale technologies like BECCS now, so they are ready for tomorrow.”

“We are thrilled to be working with Drax, providing them with credits from our high quality BECCS projects. This collaboration highlights the importance of working together to meet our generation´s biggest challenge, climate change” says Mike Carpenter, CEO and Co-founder, Inherit Carbon Solutions. “We need the entire carbon removal community working together to build a gigaton scale industry”.

Relevant: Drax To Launch New Carbon Capture Business In Texas

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