Energy Efficiency - August 9, 2022
Microsoft Buys Carbon Removal Credits
After investing in Heirloom earlier this year, Microsoft increased its commitment to the company by signing a deal to purchase its carbon removal credits.
The initial deal will see Microsoft purchase credits for delivery by 2025 with plans to pursue future purchases as Heirloom's technology rolls out.
This comes after Microsoft Climate Innovation Fund’s investment in Heirloom’s Series A which closed in Q1 2022 – emphasizing Microsoft’s ongoing conviction in both Heirloom’s technology and ability to scale.
“Our deal with Heirloom is an important part of Microsoft’s commitment to permanent, durable carbon removal,” said Rafael Broze, carbon removal program manager at Microsoft in a statement. “The purchase of carbon removal credits will be an important catalyst to the growth and development of the Direct Air Capture industry.”
Heirloom is building Direct Air Capture facilities that permanently and cost-effectively remove CO2 from the atmosphere with a path towards removing 1b tons of CO2 per year by 2035. Their technology rapidly accelerates the natural ability of minerals to absorb CO2 from the air from a timespan of decades to days.
Heirloom’s carbon removal credits are a durable method of carbon dioxide removal that exist today: once removed from the atmosphere, the CO2 is stored safely and permanently underground for over a thousand years.