Direct air capture + storage (DACS) trailblazer Octavia Carbon made history this week as the second-ever company to receive the highest rating from leading rating agency BeZero.
Following a thorough evaluation process, Octavia Carbon received the ‘Ae’ carbon credit rating and the outstanding AAA standalone carbon rating.
This milestone marks the first instance in which the BeZero rating agency awards a public ex-ante evaluation for a Direct Air Capture + Storage initiative.
As stated by Octavia Carbon, this AAA rating puts the DACS company in the top ~0.1% of all projects that have received a rating by BeZero.
BeZero Carbon uses an 8-point scale to evaluate carbon credits on the voluntary carbon market, estimating the likelihood of a given credit to achieve a tonne of carbon dioxide avoided or removed.
Using this rating scale that ranges from lowest to highest likelihood, BeZero Carbon gave Carbon Octavia the AAA grade, indicating peak likelihood that credits delivered by the Kenya-based DACS company will be able to deliver 1 tonne of CO2 removal.
For Octavia Carbon, this rating represents yet another step forward towards their goal of being the leading DACS provider in the Global South.
In collaboration with Cella, XPRIZE finalist Octavia Carbon specializes in capturing and storing CO2 underground for mineralization, employing Kenya’s vast geothermal assets.
Relevant: Octavia Carbon Locks In $5M In Seed Funding To Scale DAC Technology In Kenya
Having recently secured $5M in seed funding, the company is working on establishing itself as the second DAC company in the world to complete the full cycle of deploying both CO2 capture and geological storage.
On their journey of delivering top-notch carbon credits, Octavia Carbon is currently focused on advancing its Hummingbird pilot plant.
This project, expected to initially remove 250 tonnes of carbon and push towards a 1,000 tonnes annual removal capacity in the future, will also host the novel DAC digital monitoring, reporting, and verification (dMRV) mechanism developed by Octavia Carbon and Carbonfuture.
Read more: Climeworks Orca First DAC Project To Receive BeZero AAA Rating
