Microsoft signed a deal to explore opportunities for scaling the full value chain of carbon removal by capturing and permanently sequestering biogenic CO2 at pulp and paper mills.
The tech company signed a Memorandum of Understanding (MoU) agreement with CO280 and Aker Carbon Capture.
The collaboration of the three companies seeks to scale the full value chain of carbon removal by capturing and permanently sequestering biogenic CO2 at pulp and paper mills and will supply the market with significant volumes of permanent, verifiable and affordable Carbon Dioxide Removals (CDRs).
The parties agree to explore to develop biogenic carbon capture projects, including those currently in CO280’s development pipeline. They will apply CO280’s expertise to jointly develop a standard and efficient screening process to evaluate the technical and economic feasibility of carbon capture on pulp and paper mills with the subsequent deployment of Aker Carbon Capture’s plants, including the modularized Just Catch series.
The three companies will also standardize the lifecycle assessment (LCA) and measurement, verification and reporting (MRV) systems for capture projects in pulp and paper, with the ambition to leverage Microsoft’s digital capabilities, cloud computing platforms, services and solutions; create a digital tool to compare CO280’s planned projects against Microsoft Criteria for High Quality Carbon Removal; and advocate for policies and demonstrate thought leadership to promote the pulp and paper carbon capture market, with the corresponding creation and use of high-integrity carbon removal credits.
North America’s pulp and paper industry represents a carbon removal opportunity of up to 130 million tons per year, due to the fact that the average mill has a CO2 emissions profile that is 80-90% biogenic. By capturing and storing these emissions permanently, negative emissions are achieved as more carbon dioxide is removed from the atmosphere than is being emitted from the process.
CO280 is the leading developer of CDR projects in the pulp and paper industry. In partnership with pulp and paper companies, CO280 develops, finances, owns and operates large-scale CDR projects. The company’s projects supply permanent, verifiable and affordable CDR to corporate buyers in the voluntary market. CO280 currently has more than 10 million tons per year of permanent CDR under development.
“Our collaboration with Aker Carbon Capture and CO280 builds on important large-scale initiatives across asset-intensive industries including pulp and paper,” says Darryl Willis, Corporate Vice President of Energy and Resources Industry at Microsoft, in a statement. “By leveraging the power of technology to create a digital value chain for carbon tracking and reporting, we can equip the market for high-integrity carbon removal credits and further enable the industrial sector to decarbonize.”
