Skytree, Return Carbon and Verified Carbon Collaborate With EDF Renewables North America to Develop Large-Scale Behind-the-Meter DAC

Skytree and Return Carbon Selected by EDF Renewables North America to Develop Texas-Based DAC Park Delivering 500,000 Tonnes of CO2 Removal Per Year

Amsterdam, March 17, 2025 – Skytree and Return Carbon, in partnership with Verified Carbon, are pleased to announce the collaboration with EDF Renewables North America (EDFR) for the development of Direct Air Capture (DAC) facilities in Texas.

Return Carbon and EDF Renewables North America (EDFR) have executed a Term Sheet for delivering renewable power to large-scale DAC facilities in Texas, which will yield cost-competitive certified carbon removal credits. Together with Skytree, the DAC technology partner, and Verified Carbon, bringing geological sequestration expertise, Return Carbon aims to develop 500,000 tonnes per year of negative emissions. This collaboration integrates DAC technology, a direct renewable power source, and the Gulf Coast’s geological carbon storage capacity.

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EDF Renewables Selects a Strong Team Built on Expertise and Future-Proof DAC Technology

Skytree, Return Carbon, and Verified Carbon were selected through a Request-For-Proposal (RFP) initiative launched by EDFR in 2024 to seek partners for an agreement on renewable power for DAC projects in the Gulf Coast area.

The Term Sheet executed by Return Carbon and EDFR targets energy optimization through flexible use of wind energy generated by EDFR’s facilities. The partnership leverages a Behind-The-Meter Power Purchase Agreement (PPA) structure, ensuring price stability while retaining upside potential during peak electricity pricing.

Gabe Messercola, Associate Director Capital Improvements at EDF Renewables, said, “A key part of EDF Renewables’ strategy is to drive progress by accelerating the shift towards decarbonization. Direct Air Capture (DAC) can play a key role in the creation of a sustainable energy future, but the industry needs to scale quickly. Co-locating DAC development Behind-The-Meter will optimize renewable energy production, reduce exposure to power market fluctuations, and foster the growth of both industries.”

Martijn Verwoerd, Managing Director of Return Carbon, stated, “The agreement with EDF Renewables is a stepping stone for DAC development, where we can use our combined portfolios and expertise to accelerate carbon removal and provide stability on the power market. This collaboration pioneers the integration of modular DAC technology with a dedicated renewable power source and co-located carbon sequestration, creating a scalable, cost-effective, and environmentally sustainable solution.”

Elena Nikonova, VP Strategy North America & APAC at Skytree, added, “We are honored to have been chosen alongside Return Carbon to provide our DAC technology to this large-scale and purposeful project. EDF Renewables is demonstrating true leadership in circular sustainability by integrating carbon removal directly into their business strategy. By utilizing excess renewable energy from their wind farms to power DAC, they are setting a powerful example for how we can address the climate crisis.”

About Skytree

Born out of the European Space Agency in 2014 and headquartered in Amsterdam, Skytree harnesses CO2 from ambient air through the power of direct air capture technology (DAC). Its patented technology can be set up quickly at any location and scaled to meet the needs of businesses of all sizes. With Skytree’s unique Uptime Assurance Guarantee, all DAC systems are monitored to ensure uninterrupted operations and measured to provide valuable insights. Skytree’s Stratus DAC units are field-upgradable to newer generations as capture materials evolve, reducing energy consumption costs while improving unit capacity over time. For more information, visit skytree.eu.

About Return Carbon

Return Carbon is a project development and investment company focused on sustainable infrastructure and energy transition projects, with a focus on the development of Direct Air Capture. Return Carbon is part of the Return group, a leading investor in solar and energy storage, with an extensive portfolio in Europe. Return has gained prominence in Europe’s energy transition, having raised EUR 100 million to support its portfolio companies, including leading energy storage companies such as SemperPower, Lion Storage, and J&P Batterie Projekte.

About EDF Renewables North America

EDF Renewables North America is a market-leading independent power producer and service provider with 35 years of expertise in renewable energy. The company delivers grid-scale power through wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power through solar and storage; asset optimization with technical, operational, and commercial expertise to maximize the performance of generating projects; and onsite solutions through its PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers, including solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 23 GW of developed projects and 16 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group. For more information, visit edf-re.com.

About Verified Carbon

Founded out of The University of Texas at Austin, Verified Carbon is a carbon sequestration and project development company specializing in permanent CO2 storage solutions. With expertise in geological storage, landowner relations, carbon markets, regulatory compliance, and long-term monitoring, Verified Carbon ensures that every ton of CO2 captured is safely and verifiably stored. Through partnerships with industry leaders, the company enables scalable DAC deployment, providing high-integrity carbon credits and supporting the transition to a net-zero economy.