In a significant step forward for the fight against climate change, tech giant Microsoft has signed a groundbreaking agreement with 1PointFive, a company specializing in capturing carbon dioxide directly from the air. This deal, the largest of its kind for Direct Air Capture (DAC) technology, signals a growing commitment from major corporations to address their carbon footprint and achieve net-zero emissions.
The agreement involves Microsoft purchasing 500,000 metric tons of carbon removal credits over six years. These credits represent the removal of CO2 from the atmosphere by 1PointFive's STRATOS facility, currently under construction in Texas. STRATOS is the world's largest planned DAC facility, highlighting the ambitious nature of this collaboration. Importantly, the captured CO2 will be permanently stored underground through a process called subsurface saline sequestration, ensuring it doesn't re-enter the atmosphere. This commitment by Microsoft stands out as the largest single purchase of carbon removal credits from DAC technology to date.
Microsoft has set a bold goal of becoming carbon negative by 2030, meaning they aim to remove more carbon dioxide from the atmosphere than they emit. This agreement with 1PointFive plays a crucial role in achieving that goal. DAC technology offers a valuable tool for addressing emissions that are difficult or impossible to eliminate entirely, particularly for industries like technology with ever-increasing energy demands. Brian Marrs, Senior Director for Carbon Removal and Energy at Microsoft, emphasized the importance of DAC, stating, "DAC plays an important role in Microsoft's carbon removal portfolio supporting our broader goal of becoming carbon negative by 2030." This deal exemplifies Microsoft's leadership in sustainability and its commitment to finding innovative solutions to the climate crisis.
STRATOS represents a leap forward in DAC technology. DAC facilities capture CO2 directly from the air using giant fans and specialized filters. The captured CO2 can then be permanently stored underground or even converted into usable products like fuels. In this case, the captured CO2 will be securely stored away through subsurface saline sequestration. This method involves injecting the CO2 deep underground into rock formations, where it is trapped for millions of years. Furthermore, 1PointFive has pledged not to use the captured CO2 for oil and gas production, ensuring a truly sustainable solution.
>> In Other News: Accelera by Cummins Awarded $75 Million for Zero-Emissions Manufacturing from Department of Energy
This agreement between Microsoft and 1PointFive sets a powerful precedent for other corporations and industries. It demonstrates the viability and scalability of DAC technology, paving the way for wider adoption. DAC offers a promising solution for addressing emissions from hard-to-abate sectors, such as heavy manufacturing and transportation. As Michael Avery, President and General Manager of 1PointFive, highlighted, "A commitment of this magnitude further demonstrates how one of the world's largest corporations is integrating scalable Direct Air Capture into its net zero strategy." This large-scale project can serve as a blueprint for future collaborations and accelerate the development of the DAC market.
Michael Avery, President and General Manager of 1PointFive: "We are excited about this landmark agreement for Direct Air Capture, which is a result of Microsoft's leadership in carbon removal and focus on building a more sustainable future." This statement underscores the significance of Microsoft's commitment and its potential to propel DAC technology forward.
Brian Marrs, Senior Director for Carbon Removal and Energy at Microsoft: "We're very pleased to announce this deal with 1PointFive, a pioneer in the Direct Air Capture space, which is building the largest DAC project worldwide... DAC plays an important role in Microsoft's carbon removal portfolio supporting our broader goal of becoming carbon negative by 2030." Marrs emphasizes the crucial role DAC plays in Microsoft's comprehensive carbon removal strategy.
These quotes illustrate the shared vision of both companies and their dedication to tackling climate change through innovative solutions.
The collaboration between Microsoft and 1PointFive marks a significant milestone in the fight against climate change. By showcasing the potential of DAC technology, this agreement paves the way for a future where corporations and industries can achieve net-zero emissions. While challenges remain, Microsoft's commitment and 1PointFive's innovative technology offer a beacon of hope, propelling us towards a cleaner and more sustainable future.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌍 5 Key Carbon Removal Innovations That Shaped 2024 🧪 New Material Could Capture Millions of Tonnes of Atmospheric Carbon 💰 DOE Re-opens Funding Opportunity, Making $500 Million ...
Inside This Issue 💰 OCED Announces up to $1.8 Billion in New Funding for Transformational Direct Air Capture Technologies 🌱 BP Announces Investment Decision for “Lingen Green Hydrogen” Project 🧪 C...
Inside This Issue 🌊 ExxonMobil Partners with Worley for Groundbreaking Blue Hydrogen Facility in Texas 🏗️ Holcim Group to Test Capsol’s Carbon Capture Technology as a Step Towards Decarbonized Cem...
Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, is pleased to announce that it has signed an agreement with the Karlsruhe Institute of Technology ...
Comstock Fuels and Emerging Fuels Technology Advance SAF and Other Renewable Fuel Yields
VIRGINIA CITY, Nev., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) announced today that its wholly-owned subsidiary, Comstock IP Holdings LLC, has exec...
Hydrogen and Nitrogen Fused for First Time Ever: the Result is Something Strange and Powerful
Ammonia is the fuel for fertilizers and is also a high-energy, CO2-emitting ammonia. Researchers at the University of Illinois Chicago (UIC) with RMIT University Melbourne are advancing project-bas...
New Solar Discovery Could Revolutionize Hydrogen Production
A new solar cell process using Sn(II)-perovskite oxide material offers a promising pathway for green hydrogen production through water splitting, advancing sustainable energy technologies. Experts...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.