Return and Verified Announce First 100% Wind-Powered Direct Air Capture Hub, Designed To Scale to 500,000 Tons Annually

'Project Concho' Combines Proven DAC Technology, New Local Wind Power And Texas' Carbon Storage Capacity

SAN ANGELO, Texas, Nov. 21, 2024 /PRNewswire/-- Carbon capture and removal project developers Return Carbon and Verified Carbon today announced 'Project Concho,' a pioneering Direct Air Capture (DAC) hub to be built in Tom Green County, Texas. Project Concho will be the first DAC hub in the world to run entirely on wind power and will leverage advanced DAC technology as well as onsite geological carbon storage to capture and permanently remove CO₂ from the atmosphere. In its first phase, the facility aims to remove 50,000 tons annually before 2030, with expansion plans to reach 500,000 tons per year, creating premium, verified carbon credits for carbon markets.

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Collaboration With Renewable Power

Project Concho will be powered by a new wind farm to be built and operated by Greenalia, a leading global renewable energy producer with expertise in wind and solar in Europe and the United States. The technology underpinning Project Concho will be provided by Skytree, an industry-leading carbon removal company born out of the European Space Agency with DAC units deployed across Europe, Canada, and the United States.

"Project Concho is a significant step forward in scaling up DAC," said Martijn Verwoerd, Managing Director of Return Carbon. "This opportunity aligns perfectly with Return Carbon and Verified Carbon's joint mission to mitigate climate change through scalable commercialization of impactful infrastructure projects. We're thrilled to make West Texas a home for this groundbreaking DAC hub and create new opportunities for the region."

A New Framework for Renewable Power-DAC Projects

Project Concho is the result of an unprecedented collaboration between a wind energy provider and a DAC developer, guaranteeing reliable wind energy offtake while offering low-cost power access, a key challenge for large-scale DAC projects. Project Concho’s energy optimization is enabled by its flexible power use and a unique Power Purchase Agreement (PPA) structure developed with Greenalia. This symbiotic arrangement sets the stage for future joint renewable power-DAC projects that enable greater scale, lower risk, and reduced costs.

"We are excited about the partnership with Project Concho, as it reflects a shared vision and collaboration framework," said Alexandre Alonso, SVP of Business Development at Greenalia. "The flexibility offered by the DAC hub to optimize around energy price peaks is a game changer for renewable energy projects. This collaboration strengthens our wind farm business case in Texas while adding innovative models to the U.S. energy landscape."

State-of-the-Art DAC Technology

Project Concho will feature a connected array of Skytree Stratus DAC units. Skytree's patented DAC technology optimizes energy consumption while ensuring maximum CO₂ capture efficiency. Its modular design and 24/7 uptime guarantee made it a logical choice for a scalable project like Project Concho.

"Project Concho is a first-of-its-kind collaboration that opens the door to even more ambitious and transformative carbon removal projects," said Elena Nikonova, VP North America at Skytree. "Deploying DAC at scale is necessary to drive down costs across the value chain, and we are thrilled to provide the technology needed to bring Project Concho to life."

Economic and Environmental Benefits

Through carbon sequestration, local landowners can benefit from passive revenue streams while promoting sustainable land use. "Project Concho brings significant benefits to the Concho Valley, providing new economic opportunities for landowners beyond traditional activities," said Coleman White, co-founder of Verified Carbon and Concho Valley landowner. "Projects like these allow us to maintain traditional land uses while benefiting from a new income source and supporting projects that sustain both our environment and local economy."

About Return Carbon

Return Carbon is a project development and investment company focused on sustainable infrastructure and energy transition projects, particularly the development of Direct Air Capture. Return Carbon is part of the Return group, a leading investor in solar and energy storage with a strong portfolio in Europe.

About Verified Carbon

Verified Carbon is a Texas-based carbon capture company originating from the University of Texas at Austin. The company specializes in deploying DAC technology to sequester carbon while delivering financial benefits to local stakeholders.

About Greenalia

Greenalia is an Independent Power Producer focused on renewable energy. The company generates and stores energy sustainably using wind, solar, and forestry biomass, driving growth across Europe and the U.S.

About Skytree

Skytree harnesses CO₂ from ambient air through Direct Air Capture technology. Founded in 2014 and headquartered in Amsterdam, Skytree’s patented technology ensures uninterrupted operations and measurable carbon removal.