New Carbonx Procurement Round Attracts $7M For CO2 Removal

Carbonx Climate Purchases 746Mt Of Ocean Carbon Removals From - Carbon Herald

Carbonx, a carbon procurement and management platform for engineered carbon dioxide removal, announced that it has successfully attracted more than $7 million in decarbonization investments in a recent procurement round.

This latest round of acquisitions indicates the growing interest in sustainable and environmentally friendly projects, with more and more companies looking to put money into operations that aim to mitigate the effects of carbon emissions.

As the available options for carbon removal continue to grow on the market, Carbonx provides its clients with the opportunity to invest in a diverse portfolio of decarbonization methods and initiatives, rather than being limited to a single technology.

This approach ultimately reduces risk exposure and increases the likelihood of investing in a project that will become a leading solution in the industry.

Relevant: Carbonx Launches New Set Of Carbon Removal Market Data To Support The Space

Additionally, the carbon removal methods vary in terms of technology, delivery time, and business objectives, making it advantageous for companies to invest in a range of different projects to align with the most suitable option.

With this approach in mind, during its most recent purchasing cycle, Carbonx selected projects with six different carbon removal technologies, resulting in over $7 million in acquisitions. The methods behind the selected initiatives include direct air capture, enhanced rock weathering, ocean CDR, mineralization, bio-oil, biochar, and other biomass carbon removal and storage.

The company confirmed that the projects selected in the buying cycles have met the strict quality evaluation standards of Carbonx and have been subjected to thorough technical and commercial scrutiny. The purchases were carried out in collaboration with a variety of Carbonx clients, and a total of more than 26,000 tonnes of CO2 have been pledged, with an average price of $269 per tonne.

Read more: Carbonx Takes Care Of The Procurement Of Carbon Removal Credits

The significant amount of investments attracted by Carbonx in the procurement round signals confidence and belief in the potential of these carbon removal efforts to make a meaningful impact on reducing CO2 levels in the atmosphere. The company is set to reveal more details about the project collaboration in the upcoming weeks.

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